On January 16, 2024, Klaytn and Finschia, two of Asia’s leading blockchain platforms, announced a major plan to launch a unified mainnet. The goal of this plan is to create an Asian giant blockchain and lead the global Web3 market by combining their respective ecosystems and assets.
This combination of two mainnets is the first of its kind in the Web3 market, especially considering that the two mainnets originate from the two major technology giants in South Korea and Japan, Kakao and LINE.
Both Klaytn and Finschia are relatively mature projects with more than five years of experience. They have different cultures, visions, and underlying technologies that make up their respective ecosystems. This report will analyze the highlights of the merger of Klaytn and Finschia, as well as the advantages and potential of the combination of the two mainnets.
Klaytn and Finschia merger highlights
The merger of Klaytn and Finschia is expected to result in three major changes:
Issuance of new unified tokens
Create an integrated network across Ethereum and Cosmos
Building the largest Web3 governance structure in Asia, including affiliates of Kakao and Line
The launch of the integrated mainnet of Klaytn and Finschia is expected to combine the financial and technical resources of both parties to create a strong competitive advantage in the global Web3 market. In particular, one of the main advantages of the merger is the ability to effectively utilize the resources of early developers Kakao and Line. The two companies have approximately 250 million users on their messaging services, and their rich user base will play a key role in acquiring potential Web3 users.
