Hyundai-supported blockchain company HDAC Technology has entered into a strategic partnership with CasperLabs for joint research.
Developments within the framework of cooperation will be aimed at creating mechanisms for consensus and smooth integration between the HDAC blockchains and CasperLabs. The companies signed a memorandum of understanding, which was the first step towards further cooperation.
The goal of cooperation is to ensure scaling without compromising decentralization, which, according to Mrinal Manohar, CEO of the parent company Casper Labs ADAPtive Holdings, is very important for mass implementation.
Many implementations are accompanied by a compromise on decentralization, but we strive to ensure complete decentralization along with controlled access to the platform, he said.
Initially, the partnership will focus on the joint development of technologies for consensus mechanisms. HDAC, the issuer of the Hyundai-DAC token, a company established in early 2017 by the grandson of the founder of the Hyundai Group, wants to create the next generation IoT systems. Currently, HDAC has its own blockchain based on the proof of work.
CasperLabs is currently working on a blockchain with the consensus Pure Proof of Stake, based on research by leading architect Casper CBC and Ethereum co-founder Vlad Zamfir. As part of the partnership, CasperLabs and HDAC will share research and technical developments with each other.
The three-year collaboration reportedly includes the organization of hackathons in the US and South Korea, as well as working together with individual clients and partners to help them implement blockchain-based solutions.