[News]Active Development of The Blockchain Technology ‘Mainnet’

Published in

ReapChain Official

3 min readJul 29, 2021

【Anchor】
Blockchain, a decentralized data storage technology, has developed and market demand has increased. Then, related companies are making various attempts.
Blockchain startup companies are launching and focusing on development the mainnet, which is a network, launching and operating its own blockchain project. This is Lee Sang-beom reporter.

【 reporter 】
This is an office in Gangnam, Seoul.

Employees are engaged in mainnet development to integrate blockchain technology into our industry as a whole.

▶ Interview: Jeonghan Lee / CEO of LN Venture Group
-”The 3rd generation blockchain currently under development is a platform for making various tangible and intangible asset transactions. Currently, the fields using this platform are increasing, and fusion with other industries is actively progressing.”

According to the announcement by the National IT Industry Promotion Agency (NIPA), the size of the domestic blockchain market last year was KRW 133.6 billion.
It is expected to increase to KRW 220.6 billion this year and KRW 356.2 billion in 2022, recording a high growth trend every year.

▶ Interview: Jeonghan Lee / CEO of LN Venture Group
-”We are developing and researching the mainnet based on a hybrid blockchain specialized for IOT. We are also developing a BASS (Blockchain As A Service) system that enables practical use of the Reapchain specialized for the IOT business field. “

Blockchain is an important security tool in the rapidly improving IoT field such as gigabit internet and 5G mobile communication.

▶ Interview: Jeonghan Lee / CEO of LN Venture Group
-”The recorded distributed ledger is stored in a block-type structure, and since all distributed ledgers must be modified to modify the original data, the blockchain can safely protect data from hacking, forgery, or alteration.”

As platforms based on blockchain technology emerge as business models in various industries, interest in blockchain technology is spreading.

Given this situation, blockchain startup companies are actively engaged in activities such as expanding and implementing token economy, that is, virtual asset utilization service, and cooperating with various companies.

This is MBN News Lee Sang-beom.[boomsang@daum.net]

VJ: Ji-hoon Jung\