Blocko, South Korean government-funded ETRI work on consensus algorithm research

Blocko (http://blocko.io/), AERGO´s (https://www.aergo.io/) key strategic partner who builds the AERGO platform, has established a collaboration with multiple research institutions including the Electronics & Telecommunications Research Institute (ETRI) to collaborate on developing cutting-edge consensus algorithms as well as proving and validating existing theoretical ones, the company said.

Blocko will leverage its experience having deployed secure blockchain-based systems around document stamping, single sign-on, transaction settlements, identity, distributed storage, and supply chain management across many industry sectors to prove and validate new consensus protocols developed by ETRI.

Consensus is a process in which nodes on a distributed network come to an agreement on the immediate state of things. Consensus is a core component to replicated state machines and encompasses the creation and linkage of blocks on a blockchain. However, most consensus algorithms of today remain at theoretical stages and are unlikely to be practical under realistic circumstances.

Blocko is a well-funded, Samsung-backed commercial blockchain startup offering multinational organizations the ability to design, deploy, and manage digital services on a secure distributed network. Enterprise-IT integration and cloud deployment know-how are at the core of its value proposition. The company provides a stable and secure blockchain operating system and an easy-to-use development platform with stable APIs.

Established in 1976, ETRI is a non-profit government-funded research institute. ETRI is one of the research institutes in wireless communication domain with more than 2500 patents filed. ETRI developed ship-area network technology, portable automatic language interpretation and automated valet parking technology. ETRI has about 2,000 employees of which about 1,800 are researchers.