NGK cross-chain technology accelerates the commercial application of blockchain
At the beginning of July, the NGK project’s global roadshow achieved fruitful results in Silicon Valley and New York. In mid-August, NGK and its partners visited to Seoul. South Korea’s technological innovation and Internet innovation have always been well-known, and South Korea’s blockchain technology and popularity have also led the world. Therefore, Seoul is listed as important station in NGK’s global roadshow. The global roadshow in Seoul and cross-chain technology exchange meeting with the theme of “Chain wins the future” was held at the Intercontinental Hotel in Seoul World Trade Center on August 11.
In this event, the core members of the NGK project and eco-partners were joining in this event. In addition, there were also hundreds of industry elites from the blockchain, financial, and technological circles had participated.
STEPHEN LITAN, chief technology officer of NGK, first gave a speech on “The impact of cross-chain technology on the future blockchain and its development prospects”. With a technical background, he interpreted the core value of NGK-cross-chain technology. He said that cross-chain is the application of the consensus layer of the communication network. Because of the barriers of isolation and incompatibility, it affects the implementation of applications and the prosperity of the ecology. It can become a general logic layer that supports all underlying public chain and blockchain applications, and separates the execution of smart contracts from the consensus mechanism of the public chain. NGK network has six characteristics of compatibility, high performance, privacy protection, reliability, development flexibility and low cost, which can effectively reduce developers’ development costs.
He also said that the use of cross-chain can open up applications on different chains, which can be applied in various fields such as payment, exchange, settlement, financial management, and lending in the future. What NGK has to do is to build a super digital economy market, realize the free circulation of assets on different chains among mass applications, and provide infrastructure for business service providers in various industries, so that users can fully control and conveniently manage their own assets.
At present, cross-chain is a core project that global technical teams are researching. It will be of great value to exchanges and commercial applications. If this technology is fully utilized, at least 400 to 800 million of cost can be saved for exchanges. This will accelerate the implementation of blockchain application scenarios.
At present, the blockchain industry in South Korea is in full swing, and the Seoul station roadshow is unprecedented in scale. NGK project is taking fundamentum root in South Korea, contributing its own part to the blockchain industry in South Korea.
