SymVerse believes that they can make blockchain even faster


According to local news outlet Joongnag Daily, a blockchain company based in Korea believes that it has found what it takes to take blockchain technology to the next level.

This includes making transactions even quicker.

Wait, how is this possible?

Choi Soo-hyuk, CEO of SymVerse, calls the company’s platform

“The ideal network to operate decentralized applications. Our network is an all-in-one platform characterized by a multi-blockchain structure, which facilitates higher speeds and functions.”

Based on the report, the company’s blockchain platform can facilitate transactions at a much quicker pace, as its implementation doesn’t require smart contacts.

The platform would also feature a unique identification system which users can use to set new accounts using a unique identification system, known as the ‘SymID,’ thereby making it possible to create seamless transfers of balances between various accounts.

The SymVerse network has already seen signups from about 30 companies that will like to launch their applications on the network.

Some notable prospective partners include Hancon Secure, an IT firm that has strong ties with the leading office suite developer in Korea, and Chainflix, a peer-to-peer video sharing platform that provides an opportunity for viewers and video creators to mine and earn crypto tokens.

Our thoughts

While we still aren’t sure whether or not they can implement a faster version of blockchain, their current milestones are still very promising. It will be good to see more progress and updates from this company. The company is based out of Korea and Korea has been known for good technical talent.


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Wilson

Wilson is a 3x Startup Entrepreneur. He is passionate about the cryptocurrency space. You can catch him tweeting about cryptocurrency often @itswilson8

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