“The most important thing in blockchain popularization is to improve platform usability and create practical and specific use cases.” Kim Jae-yoon, CEO of Overlaps (photo), said in a recent interview with Maeil Economy, “It has been said for years that blockchain usability is not good, but it is true that there have been no actual improvements.” He added, “If you think about it, there is no way to improve (usability), and it is not an impossible problem, so we expect a breakthrough improvement close to popularization within three years.”

CEO Kim set up his own company last year while studying “Itanos” technology that lightens blockchain at Seoul National University Graduate School. It received seed investments from Spring Camp and Naver Jet, which are venture capital affiliated with Naver. CEO Kim is also the first president of “Decipher,” a blockchain academic society at Seoul National University. In the industry, there is an opinion that a stable mainnet is essential to popularize the blockchain. Mainnet means an independent blockchain platform. Major networks such as Ethereum, which are currently widely used, have clear limitations in widespread distribution due to their slow speed and high cost.

CEO Kim is paying attention to this and is developing a lightweight mainnet that combines the “Itanos” technology he presented in his paper. The key principle of Itanos is to participate in transactions only for accounts where activities take place, excluding dormant data among blockchain data. He verified the feasibility of 300,000 blocks in the Ethereum blockchain. CEO Kim explained, “This way, we can create light clients, so individuals can also participate in the blockchain network.”

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