Klaytn is a project and a blockchain platform that aims to offer blockchain technology integration to a wide range of users, from micro start-ups to large corporations.
Klaytn is unique in that it provides an intuitive interface for creating new token ecosystems within the Klaytn ecosystem, accessible even to people without a technical background or deep knowledge of blockchain technology.
The platform is fully decentralised, opening a wide range of opportunities for users to develop and publish their own DeFi applications within Klaytn.
This project uses the BFT (Byzantine Fault Tolerance) consensus, which states that if even one of the validators fails, the remaining nodes continue to work by keeping the system robust (small differences in protocol specifications help distributed systems to adapt to specific conditions and to be more reliable), and Proof-of-Contribution (PoC), which is based on computer power and rewards volunteers for spending their computers’ resources on complex mathematical calculations. Rewards are given to all participants in the Klaytn token economy who make a significant contribution to the common cause. By combining the consensus mechanisms mentioned above, KLAY creates a universal, decentralized environment in which nodes will always have a stake in fulfilling their responsibilities.
The project does not imply a token issue limit. At the time of writing, the total supply is 10,659,622,461 KLAY.
Is it profitable to invest in Klaytn? Definitely. KLAY is one of the popular tokens among crypto enthusiasts, which is largely due to the project’s well-intentioned goal of making blockchain more accessible to both private entrepreneurs and big companies.