Huobi is the latest firm to join the Klaytn Governance Council, a part of Kakao’s public blockchain project which runs its distributed network under the shared governance.
According to an early morning press release, the move will bolster a roster of some of the world’s largest digital enterprises, including Binance, LG Electronics and Kakao, Klaytn’s parent company.
Klaytn is a public blockchain project of Kakao that launched last June. Klaytn’s mission is to deliver a user-friendly blockchain experience to millions of users. To do this, the platform unifies features of public and private blockchains into a hybrid design.
The Council, whose roster also includes KakaoIX and Kakaopage, makes key decisions about technical updates, spending resolutions and funding policy. It empowers businesses to offer Blockchain Applications (BApps). Members also operate consensus node network.
The Council launched its mainnet last summer, June 2019.