Klaytn

What is the Token?

• Klaytn (KLAY) is a public blockchain platform by South Korean company Kakao, launched in June 2019, aimed at user-friendly blockchain experiences for both enterprise and consumer-grade applications.

• KLAY is the native utility token for platform transactions, smart contract executions, and dApp operations within the Klaytn ecosystem.

Tokenomics

• Klaytn’s initial total supply exceeded 10 billion KLAY, with block rewards initially at 9.6 KLAY, reduced to 6.4 KLAY per block to manage inflation.

• As of February 2023, the circulating supply is about 3.073 billion KLAY from a total supply of approximately 11 billion KLAY, aiming to make KLAY a deflationary asset.

Market Data

As of today #{today’s date}, the price of Klaytn is ₹13.26 INR or 0.1433 USD, with a 24-hour trading volume of 9346081.14 USD. The market capitalisation for Klaytn is 532233648.35USD. The circulating supply is 3706641614.87 Klaytn, with the total supply also being 5986652323.87 Klaytn.

Token Pros and Cons

Pros:

• The coin offers high scalability and low transaction fees, supporting up to 4,000 transactions per second.

• It is backed by Kakao, a significant IT entity in South Korea.

• It serves diverse use cases, including DeFi, gaming, and the metaverse.

Cons:

• It Competes with other blockchains offering similar services.

• The token faces potential regulatory risks, particularly due to its South Korean roots.

Why Should You Invest in the Coin

• Klaytn’s strong ecosystem support, high transaction speed, and low fees make it an attractive investment, especially with its focus on expanding sectors like the metaverse and gaming, backed by Kakao.

USP of the Coin

• Klaytn distinguishes itself with high scalability, immediate transaction finality, and user-friendly experiences, targeting developers and users with its emphasis on the metaverse and gaming.

Problem the Coin is Solving

• It aims to enhance blockchain accessibility and usability for businesses and consumers by simplifying application development and encouraging widespread adoption through a high-performance, enterprise-grade platform.

Founder and Team Background

• Developed by Ground X, Kakao Corp’s blockchain subsidiary, leveraging the team’s experience in managing major internet services in South Korea for the Klaytn project.

ICO Price

• Klaytn did not conduct a public ICO but held two private seed rounds at $0.03 and $0.047, raising a total of $110.2 million.

Risks Associated in Investing in the Coin

• Investment in KLAY carries risks like market volatility, potential regulatory shifts in South Korea, and the challenge of standing out among competitive blockchains, with its success dependent on ongoing ecosystem development and adoption.

Whitepaper Insights

The Klaytn whitepaper outlines the project’s vision to make blockchain technology accessible and usable for a wide range of users and applications. It emphasises the need for a high-performance, user-friendly platform that can support the demands of both enterprise-level applications and consumer services.

Klaytn achieves this through a hybrid architecture that combines the best features of both public and private blockchains. This design allows for high transaction speeds and scalability while maintaining a decentralised governance model. The platform uses a modified version of the Byzantine Fault Tolerance (BFT) consensus mechanism, which ensures immediate transaction finality and enhances security.

The whitepaper details Klaytn’s unique governance structure, which includes a Governance Council responsible for network and protocol decisions. This council is composed of reputable businesses and organisations, ensuring a stable and reliable network operation. Klaytn also introduces an incentive system to reward contributors and participants in the ecosystem, fostering growth and innovation.

A significant portion of the whitepaper is dedicated to explaining Klaytn’s tokenomics, which are designed to support a sustainable and growing ecosystem. The initial supply, block rewards, and mechanisms for token burns are discussed, highlighting the project’s efforts to create a deflationary token model over time.

Klaytn’s commitment to supporting developers is evident in its comprehensive development tools and resources, including SDKs, APIs, and detailed documentation. The platform aims to lower the barrier to blockchain application development, enabling a broader range of developers to build on Klaytn.

The whitepaper concludes with a roadmap outlining future developments and enhancements to the Klaytn platform. These include expanding the ecosystem through partnerships, improving the platform’s scalability and performance, and introducing new features to support emerging blockchain use cases such as the metaverse and decentralised finance (DeFi).

Overall, the Klaytn whitepaper presents a compelling vision for a blockchain platform that balances performance, security, and usability. It positions Klaytn as a leading contender in the race to bring blockchain technology to mainstream users and businesses, offering a solid foundation for the development of a wide range of applications.

This dossier provides a comprehensive overview of Klaytn (KLAY), highlighting its strengths, potential risks, and the innovative solutions it offers to the blockchain space.