High-performance public chain reaches testnet milestone on track for public release

MARKHAM, ONTARIO, CANADA, November 28, 2021 /EINPresswire.com/ -- Kinglory Inc. is proud to announce it has successfully met the November 2021 technology milestone and launched its testnet named MetaChain. This public chain is on track for public release by the end of December 2021. "Our company has reached an important milestone and continues to realize our mission in building an integrated global blockchain platform for all," remarked Ms. Cynthia Huang, the Chief Operating Officer of the company.

MetaChain is an ideal contender for carrying metaverse applications, given its high transactions per second (TPS) capability and Kate Polynomial Commitment (KPC) technology. This public chain's technology acts comparably to an "operating system," allowing other decentralized applications (DApps) and assets to interact barrier-free with multiple different chains.

MetaChain's release is exciting news for metaverse developers and users, as they will be able to extract data, assets, or smart contracts from various blockchains. The technology supports self-sovereign identity and virtual assets of any online and offline games. MetaChain supports vital elements such as mapping, equipment, decorations, and land property rights. In addition, it enables the trading of these essential metaverse elements.

This high-performance public chain can advance DApp projects from other blockchains/released tokens, such as NFT marketplaces and smart contracts. Combining the chain's high-performance capability, VRF, and other technology advancements, this blockchain allows all projects to manage real-time transactions for commercial applications seamlessly and proficiently. MetaChain's testnet TPS is already at 2,400 and will escalate 40 times by the next testing stage.

MetaChain is a scalable decentralized network, capable of handling approximately 100,000 TPS as a part of payment infrastructure. Gas fees are presently stabilized and preserved at 0.10 USD per transaction to make feasible transactions possible over the blockchain.

As Facebook recently announced their rebranding related to the metaverse, Kinglory Inc. is poised to be one of the only blockchain companies to support the metaverse initiative.

About Kinglory Inc.
Kinglory Inc. is a Canadian-based high-tech company (next-generation blockchain ecosystem, supporting the metaverse). The platform uses modern cryptography, communications, distributed computing, and storage technologies to ease decentralized finance, social networking, e-commerce, search, and storage business applications. The public chain R&D team comprises blockchain experts from Canada, the United States, the United Kingdom, Russia, Israel, and other countries. Learn more at Kinglory.org.

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