South Korean researchers develop ledgerless blockchain system for central banks

A group of South Korean researchers has introduced ledgerless blockchain called PureChain, which they say could accelerate the introduction of a central bank digital currency (CBDC).

Korean Institute of Advanced Science and Technology, Kyung Hee University, The research team, which includes representatives of technology company ICTK Holdings and blockchain startup EpitomeCL, announced the development of PureChain at a press conference last week.

According to the Korean Times, PureChain is used to describe microprocessors and other semiconductor devices. a ledgerless Blockchain built using digital fingerprints for physically non-replicated functions (PUF). He stated that he has achieved dramatic improvements in transaction speeds over Blockchain.

Ledgerless Blockchain PureChain will fix many bugs

Previously they explained that PUF technology requires the use of error correcting codes when used as keys in cryptographic algorithms. However, they announced that there was a solution for this issue. ICTK Holding CEO S.. Sam Yu said:

“PureChain is the only PUF technology that does not require the use of error-correcting codes, which hinders the mass production of other PUF types.”

The developers of this predicted the technology could accelerate the entry and adoption of central bank-managed digital currencies. It will enable countries to digitize their national currencies and take advantage of the efficiency of Blockchain-related systems without giving up money supply control.. ” he says.

But with the explanation, many questions remained unanswered.. No details were given on how the error codes were resolved.. If the project is successful as described, we can see central banks as a tool to be used by their citizens to transition into a cashless society.

Ccn