Huobi Becomes Most Recent Firm To Join Klaytn Governance Council

The Alliance Will Help Klaytn Governance Council To Expand

According to a press release which came early in the morning of 11th February, the alliance could support some of the largest digital businesses across the globe including Binance, Kakao( parent company of Klaytn) and LG Electronics.  

Sangmin Seo, a council-member of Ground X team, cited they were happy for Huobi to operate with other members of the council to collectively govern and run the Klaytn platform, together with building use cases that could assist in promoting the global blockchain ecosystem development.

Klaytn is Kakao's public blockchain project which was started last June. Klaytn has aimed to provide a user-friendly experience of blockchain technology to millions of customers. To achieve this objective, the platform has combined features of private and public blockchains to create a hybrid design. 

The Klaytn governance council, whose members include Kakaopage and KakaoIX, has been taking important decisions regarding spending resolutions, technical updates, and funding policy. It has allowed businesses to provide Blockchain Applications. The council members have also been operating consensus node network. 

Statement From Huobi's CEO

Ciara Sun, the Vice President of Huobi, cited that the recent partnership has advanced the mission of Huobi to make blockchain more convenient to users all around the world.  Huobi, which has been serving millions of users across the globe, has also supported KLAY (Klaytn's token) and several corresponding coins on its Huobi Wallet. 

At the end of November, a report stated that companies on Klaytn's governance council had a combined worth of 70 trillion won. The CEO of Kakao, Yeo Min-soo, declared that Klaytn platform has been growing more quickly than the Libra of Facebook.