Klaytn (KLAY) is a public blockchain designed for the metaverse, gaming and creative economy. In this article, as Kriptokoin.com, “What is Klaytn?” We will answer the question. In addition, we will touch on other questions about the project.
What is Klaytn? What does it do?
Klaytn is a business-oriented public blockchain project that allows businesses to create and customize their own service-oriented blockchain.
What is KLAY coin?
KLAY coin is Klaytn’s native token. Also, the primary purpose of the token is to act as a utility token for all transactions and BApps. The KLAY token is used to pay for building and running BApps on the platform. The Klaytn ecosystem also has a reward mechanism called the Klaytn Healing Reserve. Its purpose is to help the growth of the network or positively compensate participants.
How does Klaytn work?
Klaytn crypto has several unique features. The network offers customized layer-2 solutions, smart contract libraries, blockchain explorers, crypto wallets, bridges and oracles, as well as an ecosystem of support services such as NFT marketplaces, stablecoin integration and more. These tools make Klaytn a kind of one-stop shop for those who want to build something in the metaverse, such as play-to-win crypto games. Also, Klaytn uses something called IBFT as the consensus algorithm. It allows transactions on the network to be completed within a second. This allows for use cases where near-instant completion of transactions can be helpful, such as printing NFTs in real time for item drops in video games.
Klaytn supports EVM as part of metaverse and Web3 development efforts. The network adopts the EVM specification, making its technical stack equivalent to the Etherem stack, building on top of existing Ethereum clients, and allowing EIPs and KIPs to contribute to both ecosystems. Also, Klaytn crypto has a unique governance structure called the Governance Council (GC). GC members, made up of businesses and decentralized autonomous organizations (DAOs) from around the world, form a validator network that can deliver the benefits of a decentralized public blockchain while driving the performance of a centralized, permissioned blockchain. Klaytn plans to become more decentralized by adding additional DAOs in the future.
What is Klaytn? How to get KLAY coins?
Klaytn is currently traded on numerous cryptocurrency exchanges. People who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where Klaytn is traded are listed as follows: Binance, OKX, Bybit, MEXC. Users who want to invest in the project should open an account on one of these exchanges.
