If you're looking to swap Klaytn, SwapSpace is your one-stop-shop. We have some light reading for you - in case you'd want a refresher on what is Klaytn or some fresh information about klay’s price movements. And, of course, we provide you with the multiple Klaytn exchange options so that you can choose the offer with the best rates and lowest Klaytn fees, as well as other parameters that suit you.
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What is Klaytn?
Klaytn is an enterprise-grade, service-centric public blockchain platform that aims to offer a user-friendly blockchain experience to the masses. Its unique “hybrid” architecture combines the best features of public blockchains (decentralized data and control, distributed governance) and private blockchains (high scalability and low latency).
The project is backed by numerous highly reputable brands from all around the world that collaborate in order to create a reliable platform for entrepreneurs above the system with decentralized trust. Klaytn also aspires to promote blockchain Applications and to share the advantages of decentralized trust with as many community members as possible.
Klaytn was initially launched in June 2019 and soon after became the dominant blockchain platform in South Korea, and is currently in the process of global expansion. The main office of the project is located in Singapore.
One of the goals of the platform is to simplify the creation of Metaverse, thus it offers users end-to-end metaverse packaging that includes customized layer-2 solutions, SDK and smart contract libraries, IPFS solutions, chain explorers, wallets, bridges, and oracles. Moreover, Klaytn has a whole ecosystem of related and supporting services such as stablecoin integration, NFT marketplaces, tradfi interfaces, etc.
Thanks to the optimized version of Istanbul BFT that makes the transactions achieve finality in less than a second Klaytn provides a responsive user experience and can be applied whenever fast finality is needed, for example, real-time minting of the gaming items. Klaytn’s IBFT consensus algorithm grants that the data on the blockchain is true and can never be reversed. The platform also supports EVM.
KLAY is the native digital token of Klaytn platform. The asset secures the platform and fuels the protocol. 10 billion tokens were issued at the genesis, and currently, 2.6 billion coins are in circulation. With every new block, 9.6 KLAY coins are minted. The newly issued tokens and the block reward are being aggregated and distributed to the governance council, growth fund, and improvement reserve.
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