Parity Teams up With Klaytn To Boost Metaverse Growth

Today, Klaytn announced a major collaboration with Parity Technologies. Klaytn says that this partnership is to help it achieve its vision to become the blockchain of choice for gaming and metaverse projects worldwide. Klaytn is a modular, open-source public blockchain and Parity is a blockchain infrastructure company most known for the blockchain network Polkadot.

Parity and Klaytn will reportedly work together to build a Substrate-based Klaytn chain, Klaytn-Substrate. The duo states that this chain will initially serve as an alternate implementation of the Klaytn specification and as a sidechain to Klaytn’s main chain.

Klaytn-Substrate will be bridged to Polkadot and to the Klaytn mainnet to act as an intermediary environment where collaborative technological, business, and community initiatives can combine in interesting and synergetic ways.

David Shin, head of Global Adoption at Klaytn Foundation, told CoinQuora that the collaboration with Parity was in line with their vision to create an interoperable blockchain platform for the metaverse.

Klaytn-Substrate will open up new possibilities for dApps to be developed in a multi-chain environment, and to explore collaborative use cases between the Klaytn and Polkadot chains.

Omar Elassar, VP for Ecosystem Development at Parity Technologies is also thrilled about the collaboration. “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,” said Elassar.

The teams also stated that the Klaytn-Substrate will act as a key “canary network.” Notably, once the Klaytn-Substrate chain is launched, the collaboration will continue with the development of new dApps for the chain, as well as porting over multichain launches of existing applications from both the Klaytn and Polkadot ecosystems.

Parity and Klaytn teams declared that they will 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.