Electronic Times has published its latest interview with ICONLOOP.
Electronic Times has published its latest interview with ICONLOOP in its People Insight series.
It covers how ICONLOOP reads the recent move by major companies to build blockchain mainnets of their own, the blockchain framework PARAMETA that ICONLOOP offers in response to that shift, and HAVAH, the first blockchain mainnet project being built with PARAMETA. Have a read.
ICONLOOP CEO JH Kim
"Blockchain mainnets specialized by company and industry are the strength"
Requirements for blockchain inevitably reflect the particular characteristics of each industry. Demand for mainnets specialized to a given domain is therefore certain to emerge, and interchain technology — connecting a domain-specific blockchain to other blockchains — will only grow in importance.
ICONLOOP CEO JH Kim
That is how ICONLOOP CEO JH Kim reads the recent trend of major companies building their own blockchain mainnets. General-purpose blockchains will keep growing around a handful of leading projects, he says, but when it comes to the blockchain a company runs for its own service, the shift toward building it in-house — specialized to that service rather than general-purpose — is picking up speed.
This year ICONLOOP introduced PARAMETA, a full-package framework that makes it easy for a company to build its own blockchain mainnet. It is optimized for what different industries actually ask for, so a company can stand up its own mainnet without the usual difficulty.
A mainnet built with PARAMETA can also use ICONLOOP's interchain technology and Blockchain Transmission Protocol (BTP), which connect different blockchains. That secures interoperability between chains and lets assets move smoothly between them.
[Reference] Read the introduction to ICONLOOP's PARAMETA ▼
The first blockchain mainnet project being built with PARAMETA is HAVAH. Korean game company Twobyte, ICONLOOP and the ICON Foundation are collaborating to create an interchain platform that connects non-fungible tokens (NFTs) issued on many different blockchains.
[Reference] Go to the HAVAH brand site ▼
- HAVAH
- Utilize your NFTs no matter the network, no matter which dapps.
- intro.havah.io
"Early on we considered turning blockchain into a solution and selling and installing it the way other enterprise solutions are sold, but that shape would take a very long time to settle into the market," said ICONLOOP CEO JH Kim. "Beyond game companies, we are currently in talks with companies in entertainment, healthcare and other fields about adopting PARAMETA in a form that fits each domain."
He added: "Even within the same field, every company wants something different from its mainnet. In gaming, each company is working its own blockchain philosophy into its games, and some are making bold attempts at applying P2E."
Kim stressed that applying a mainnet optimized for the individual company, rather than an open-source Ethereum-family chain, is far more efficient for service maintenance and stability. That is because open source, by its nature, is continuously updated by countless developers worldwide, and reflecting every changed version in an individual company's service in real time is effectively impossible.
Simply taking open source and operating it as-is may cause no great trouble, but the moment you start modifying it to a company's taste, serious difficulty is bound to follow. Even a trivial problem can burn considerable time and effort just to trace and fix — and it is that practical difficulty that makes a blockchain mainnet optimized for a company's own environment necessary.
ICONLOOP CEO JH Kim
ICONLOOP plans to raise funding in the fourth quarter, leading with the proprietary core technology it has built for creating blockchain infrastructure.
"We want to attract investment that lets us collaborate strategically with companies that need core blockchain technology," Kim said. "We want to grow beyond simply supplying technology into a partner that builds the ecosystem together — from blockchain consulting all the way to token economics."
Source: Electronic Times, reporter Okjin Bae (October 4, 2022)
Read the full article ▼
Life Meets Blockchain, ICONLOOP