What is Klaytn (KLAY) Coin
Klaytn is a public blockchain platform providing an accessible user experience and development environment in order to convey the value of blockchain technology. The platform combines the best features of both public blockchains (decentralized data and control, distributed governance) and private blockchains (low latency, high scalability) via an efficient ‘hybrid’ design. Klay coin Launched in June 2019.
Klaytn aims to bring blockchain technology to all types of users, from micro startups to enterprise divisions. The company’s mission is to make decentralization via blockchain available on a global scale. In addition, the project has already secured interest from numerous highly reputable brands around the world.
- Klaytn is a public blockchain developed by Ground X, the blockchain arm of Korea’s internet giant Kakao with 50 million users worldwide. Kakao built a proprietary blockchain platform to avoid any bottlenecks that the online and mobile-first services could face due to performance limitations of existing blockchain technology.
- The Klaytn protocol is governed by the Governance Council, which consists of ecosystem builders and service providers that will contribute towards the long-term development of the protocol. The governance council is one of the largest blockchain consortia consisting of global enterprises such as Kakao, Binance, MakerDao, Hashkey, Worldpay, LG Electronics, among others.
- Klaytn aims to be the de-facto platform of NFTs, Decentralized Finance (DeFi), and beyond in Asia. Klaytn is also working with global leading institutions to develop a base software platform for Central Bank Digital Currencies (CBDC).
- KLAY is the native utility token of the Klaytn Network, and has the following use cases:
- Network utilization: Users will require KLAY tokens for transactions on the Klaytn Network, similar to ETH.
- Yield Farming: Users can provide liquidity on various DeFi protocols (KLAYswap, KLAYstation) to farm tokens of other projects, or stake KLAY tokens to earn KLAY staking rewards. The staked KLAY tokens (sKLAY) may also be used for liquidity mining.
- Minting NFTs: Users may mint NFTs on the Klaytn Network, which has a partnership with OpenSea to list NFTs minted via the Klaytn Network.
- Klaytn Mainnet Cypress can provide a high throughput of up to 4,000 transactions per second with one-second block generation interval and immediate transaction finality. Klaytn uses an optimized version of Istanbul BFT, which implements PBFT with modifications to deal with blockchain network’s characteristics.
- At the time of mainnet launch, 9.6 KLAY will be minted per block. This implies a 3% annual inflation (approximately 300 million KLAY) against the 10 billion KLAY issued at genesis (the annual inflation rate is subject to change through the Klaytn Governance Process).
- As at 24th June 2021, the total supply of KLAY is 10,602,731,555 (10bn KLAY at Genesis+ inflation) and the current circulating supply is 2,476,554,233 KLAY (~23.36% of the total token supply).
How To Buy Klaytn (KLAY) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Klay coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Klaytn coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a Klaytn (KLAY) Coin
Klaytn (KLAY) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Klaytn (KLAY) Coin Review
You can learn more about Klaytn (KLAY) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Websitehttps://www.klaytn.com/ Whitepaper https://www.klaytn.com/Klaytn_PositionPaper_V2.1.0.pdf Github https://github.com/klaytn Medium https://medium.com/klaytn Documentation https://docs.klaytn.com/ Community https://tezos.com/community Telegram https://t.me/Klaytn_EN