Klaytn - A blockchain you should know about

Klaytn (KLAY)

What is Klaytn?

Klaytn is a blockchain created by the South Korean company Kakao. It’s goal is to provide tools and services to enterprises both large and small to help them develop and deploy decentralized applications (DApps). It was announced in 2018 and launched its mainnet in 2019. Kakao, the parent company, is one of the largest enterprises in South Korea.

Why does Klaytn have value?

Klaytn is a very fast and scalable blockchain. Its transactions are confirmed in 1 second, and it can handle up to 4,000 transactions per block. It is fast and efficient for both developers and end-users. They also subsidize transaction fees for users on the platform. Klaytn has built a reliable, fast, inexpensive chain that developers can easily create new apps and get up and running quickly.

What are the Pros of Klaytn?

●       Really high throughput

●       Supports the Ethereum Virtual Machine (EVM) and Solidity, which makes it compatible with ERC-20 tokens.

●       Kakao has a big customer base, who may be more likely to use Klaytn

What are the Cons of Klaytn?

●       There public outreach has been slow with low activity on social media.

●       It is centralized and owned by the Kakao company.

What are KLAY’s tokenomics?

Klaytn protocol doesn’t have a set maximum supply. Every second, the network generates a new block and mints 9.6 KLAY. The new tokens, plus the transaction fees, are distributed among the Governance Council, the Growth Fund, and the Improvement Reserve.

The Governance Council is formed of contributors to the network, who must stake 5 million KLAY and undergo a qualification review.

Who founded Klaytn?

Klaytn was founded by Jaesun Han, who is the CEO of GroundX, a subsidiary of Kakao and responsible for the development of the blockchain.

Who are Klaytn’s investors?

Klaytn conducted an Initial Coin Offering (ICO) in 2018. It raised $90 million from 3 main investors: Crescendo Equity Partners, IDG Capital, and Translink Capital.

Concise Crypto Grade:

B  :Klaytn is a name you might be familiar with if you use the popular NFT marketplace OpenSea. Because Klaytn’s blockchain is fast and inexpensive and because they can process Ethereum compliant tokens; Klaytn has developed many fantastic partnerships including one with the world’s largest NFT marketplace. As Klaytn continues to improve their PR and adds additional years of reliability Klaytn could become a global powerhouse when it comes to crypto. 

Where can I buy KLAY?

Bithumb, Binance, Gate.io, Bittrex, Liquid, OKEx.

What ecosystem does Klaytn run on?

Klaytn