The Klaytn blockchain was initiated by the South Korean big tech company Kakao to be the backbone of their services. Kakao is one of the largest South Korean companies and combines several services such as social media, banking and ride haling. Even though the blockchain has launched in 2020, there are already over 60 decentralized and centralized apps in their ecosystem. The development of the blockchain is not centrally controlled by Kakao, but by a governance counsel consisting of 30 crypto and non-crypto companies, such as Binance and LG but also Kakao.
In contrast to the failed attempt by Facebook (now Meta) to establish an own blockchain, the South Korean big tech company Kakao was more successful. However, unlike Libra (Meta's project), they did not create a stable coin, but a volatile coin. Even though Klaytn has not been used very much yet, there are some signs that could increase its usage in the future. Klaytn is expected to become the backbone of services from Kakao and the South Korean economy. In addition, Klaytn has recently partnered with Opeansea, so NFTs on the Klaytn blockchain may soon be offered on Opensea's marketplace.
How do you feel about Klaytn?
Get up to speed on Klaytn in less than 5 mins.
Complete these tasks to become a Learn.xyz certified expert.
Klaytn is aon its own,uses to validate transactions,and is.Klaytn also supports.
Interesting facts about Klaytn
Here are some facts you may not already know about Klaytn. Something surprise you? Go ahead, share it!Any fact missing? Contact us.
The Klaytn Governance Counsel decides over the future development of the Klayton blockchain and consits of 30 companies.
Klaytn uses a restricted proof-of-stake method, in which a pre-selected set of validators confirm the transactions.
The Klaytn Blockchain was initiated by the South Korean tech giant.
Klaytn reviews from the Learn.xyz community
There are no reviews for Klaytn yet. Be the first one to make some noise!
Klaytn price and insights
See how much Klaytn is worth and learn from other insightful metrics
-0% past 1 week
No reviews yet
Market capitalization Very small
24 hour trading volume Very small
Market cap % of total Very small
# Discord members -
# Telegram members 23,356 3% of them are active
% of total supply circulating Very small
What’s the community like?
Community matters for projects like Klaytn, because an active community drives the development of use cases for a blockchain project. The more people are active, the better to have healthy discussions and create something valuable.