Klaytn
Name
Klaytn
Summary
Klaytn is a public blockchain with a focus on metaverse, gamefi, and the creator economy.
It is developed by GroundX, the blockchain subsidiary of Korea’s largest mobile platform, Kakao
Rating
Symbol
KLAY
Overview
Klaytn was created with the goal of providing enterprise-grade scalability and performance while also supporting EVM and solidity. The Klaytn network can accommodate up to 4,000 transactions per second (TPS) with 1 second block generation speeds and immediate finality thanks to a hybrid governance structure and an efficient PBFT consensus process.
Historical Price Movement (in INR)
Technology
Klaytn employs an optimized version of Istanbul BFT, which employs PBFT with adjustments to account for the unique properties of the blockchain network. The goal is to allow a large number of nodes to join the network. With a one-second block generation frequency, Klaytn Mainnet Cypress can provide a throughput of up to 4,000 transactions per second (TPS). At the moment, more than 50 consensus nodes can join the Consensus Node Network (CNN), and the number will continue to grow as Klaytn improves the algorithm.
Native tokens used in the ecosystem:
The Klaytn Network's native utility token, KLAY, has the following use cases:
Users will need KLAY tokens for transactions on the Klaytn Network, same to how ETH works.
Users can farm tokens from other projects by providing liquidity on various DeFi protocols (KLAYswap, KLAYstation), or stake KLAY tokens to receive KLAY staking incentives. Liquidity mining can also be done with staked KLAY coins (sKLAY).
Minting NFTs: The Klaytn Network, which has a collaboration with OpenSea to list NFTs minted via the Klaytn Network, allows users to mint NFTs.
Private sales
18%
Protocol reserves
53%
Business development
16%
R&D and technology
8%
Team
5%
Volume (26th April 2022)
$90,910,625
Total Supply
10782297981
Circulating supply
2.79B KLAY
Crowd Sales
Klaytn has raised $90 million in one round of fundraising.
Funding
15/12/2018:Initial Coin Offering-$90M
Country
South Korea
Name of Organization
Ground X
Year Incorporated
2019
Registered Address
NA
Dispute Resolution and Governing Law
South Korea
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Jason Han | Founder and CEO of Ground X | Korea Advanced Institute of Science and Technology: Doctor of Philosophy (Ph.D.), Electrical Engineering & Computer SciencesKorea Advanced Institute of Science and Technology: Master's Degree, Electrical and Electronics EngineeringPusan National UniversityBachelor's Degree, Electrical and Electronics Engineering | 16 yrs |
Whitepaper 
