It is with great delight that we announce the collaboration between Klaytn and Parity to build a Substrate-based Klaytn chain, Klaytn-Substrate. Parity, using its Substrate SDK, is perfectly positioned to help Klaytn explore the possibilities of a true multi-chain environment and achieve our vision for the metaverse in 2022 and beyond.
Klaytn-Substrate will initially serve as an alternate implementation of the Klaytn specification and as a sidechain to our main chain. It will be bridged to Polkadot and to the Klaytn mainnet to act as an intermediary environment where collaborative technological, business case, and community initiatives can combine in interesting and synergetic ways. Building out feature sets to capture and facilitate gaming and metaverse use cases on Klaytn’s existing mainnet and L2 architecture is still one of our key strategies. However, Klaytn-Substrate can act as a key “canary network” for us to safely, efficiently, and quickly capture new use cases, new technologies, and provide our community with more options for building great things within the Klaytn ecosystem.
Once the Klaytn-Substrate chain is launched, the tech lead collaboration will continue with the development of new dApps for the chain, as well as porting over multi-chain launches of existing applications from both the Klaytn and Polkadot ecosystems. Parity and Klaytn’s teams will also work together to expand the network of enterprises building on Klaytn-Substrate, to encourage a diverse array of service providers and a rich and highly functional business ecosystem.
The collaborative Klaytn-Substrate project will allow us to expand into more areas and ecosystems beyond those enabled by our existing Service Chain L2 solution. With great adoption comes great responsibility, and as our community grows, so will the demand on our main network. From this, Substrate is a natural candidate for expansion and exploration, providing the Klaytn ecosystem with an additional stable, upgradable and high throughput blockchain framework to support our thriving community.
“The collaboration with Parity is in line with our vision to create an interoperable blockchain platform for the metaverse. The Klaytn-Substrate will open up new possibilities for dApps to be developed in a multi-chain environment, to explore collaborative use cases between the Klaytn and Polkadot chains,” shared David Shin, Head of Global Adoption at Klaytn Foundation.
Omar Elassar, VP, Ecosystem Development at Parity Technologies, said: “We’re excited to work with Klaytn to help its onward journey as a major player in the metaverse and gaming. The team at Klatyn recognize that Substrate is the optimal SDK for technical and business use case exploration.”
A number of Substrate features gave us the confidence to embrace it as an additional implementation of the Klaytn vision. Due to its customisation capabilities, the chain’s performance could be modulated to support applications with higher transaction throughputs, such as many of Klaytn’s DeFi applications. But additionally using its modular and innately extensible design allows for the addition of new runtime features, customisable consensus and governance, EVM compatibility, as well as ability to perform live runtime updates. Substrate is the perfect SDK for Klaytn’s ecosystem growth ambitions for technical and business use case exploration. Not only does it provide the ability to build a highly customizable and future proof blockchain with its own unique governance model, it also allows us to rely on a battle-tested framework that takes the guesswork out of deployment.
Using Substrate means we can customise Klaytn-Substrate in a fast iterative manner to find market fit and drive vision towards technical exploration while synergising Klaytn-Substrate’s unique path with our existing proven network through bridging and interoperability functionality. Add to this the ability to easily and seamlessly bridge to Polkadot’s own secure, decentralized and highly interoperable network, and it’s easy to see that this collaboration makes sense.
Great collaborations are built on trust and a shared vision, and this is what we find with Substrate. Klaytn’s ecosystem expansion will be secured using the performant, intuitive and reliable infrastructure found in Substrate; and Substrate and Polkadot will continue to reach new heights of adoption with the support of Klaytn’s buoyant community. The collaboration is a positive flywheel for Parity, Klaytn and all our users, and we can’t wait to see it come to fruition.
