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Blockchains Klaytn and Finschia have proposed a merger, which would effectively combine South Korean mobile social network Kakao’s blockchain arm with the equivalent division from Line.
The result will see these two existing blockchains merged into a brand new blockchain – which would rank in the top 100 cryptos – with a new token issued to existing holders.
Technically there are difficulties given Klaytn is an EVM chain, while Finschia is based on Cosmos, but these are not insurmountable with the proposal stating the end result will be a “technologically superior blockchain that supports both EVM and CosmWasm”.
To-date, despite the resources available, neither Klaytn or Finschia have made much of an impact, certainly in terms of gaming. By combining, however, they have an opportunity to scale and dominate the South Korean and Japanese markets as Klaytn is integrated with the web2 Kakao app and Finschia with Line. These apps have hundreds of millions of active daily users globally.
Of course, the process will likely be a long one and can’t begin until the proposal passes the governance process for both chains.