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South Korean researchers unveil a "Blockchain without a legend" built for central banks


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A group of South Korean researchers unveiled an "unregistered blockchain" called "PureChain" which says it could speed up the introduction of a central bank digital currency (CBDC).

The research team – which includes representatives from the Korea Institute of Science and Technology, Kyung Hee University, ICTK Holdings technology firm and the startup Blockchain EpitomeCL – announced the development of PureChain last week.

According to the Korea Times, PureChain is a "registry-free blockchain" built using physically uncloned functions (PUFs), the "fingerprints" used to identify microprocessors and other semiconductor devices.

The researchers stated that by using the PUF, users could perform peer-to-peer (peer-to-peer) payments through a consensus between two committed nodes only, significantly improving speed transaction on Bitcoin and other conventional blockchains.

They explained that, previously, PUF technology had required the use of "error correction codes" when it was used as a key in cryptographic algorithms. However, they said that they had discovered a solution to this problem.

"PureChain is the only PUF technology that does not require the use of error correction codes that have hindered the mass production of other types of PUFs" ICTK Holdings CEO S. Sam Yu. "As a result, PUF applications range from blockchain technology to IoT security, user verification and more."

Developers have predicted that this technology could accelerate the introduction and adoption of digital currencies governed by the central bank, which would allow countries to digitize their national currencies and capitalize on the efficiency of the systems. related to blockchain without giving up control of the money supply.

"This is a realistic blockchain technology that can be applied to the CBDC," said Han Ho-hyeorn, a professor at Kyung Hee University and leader of the PureChain research team

Unfortunately, many questions remain about PureChain. The regional media that covered the press conference did not go into detail about the structure of the networkless blockchain. They also did not explain how the technology avoided the use of PUF error correction codes.

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However, if PureChain proves to be as useful as the researchers claim, expect Central Banks to start considering it as a potential tool to help them make the transition from their countries to companies without liquidity.

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