Hyundai’s backed blockchain firm, HDAC Technology is partnering with blockchain startup CasperLabs for a (Proof of Stake) PoS blockchain. This strategic partnership is to research and co-develop consensus mechanisms and seamless integration between the blockchains of HDAC & CasperLabs.
Both the firms have signed a memorandum of understanding for this collaboration. It aims to assure the scalability without losing decentralization that is essential for mass adoption. For now, the firms will focus on the development of the consensus mechanisms.
The blockchain firm HDAC intends to enable verified IoT environments of next-generation. Currently, the company is having its own production Proof of Work blockchain. CasperLabs is working for a Pure (Proof of Stake) PoS blockchain for its research.
As partners, both firms will share technical and research support. The organization of hackathons in the USA and Korea has reportedly worked with selected customers for implementing blockchain solutions.