Klaytn (KLAY) - a cryptocurrency that wants to be better than Ethereum

When a new network and cryptocurrency are created, most of them are initially cautious at the beginning. In case of Klayn (KLAY) however, it was different immediately. The tests were quickly started by technological giants such as LG, Netmarble and Celltrion. Thanks to the speed of 3 thousand. transactions per second are also developing very quickly BApps - modern blockchain network applications. Another star of one season or a cryptocurrency that will stay among the best for good?

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for Klaytn - a cryptocurrency that is conquering Asia for now, but it has ambitions and all the premises to become a global project very quickly.

The genesis of the uprising

Klaytn tests have been running since October 2020. They started right away "from high C" - the network was taken care of by technological giants, like LG, Netmarble and Celltrion. The Union Bank of the Philippines was also involved in the project. Therefore, the Kakao project has noteworthy partners from the very beginning. What attracted them?

Certainly a recognized and experienced team of developers in the blockchain world, but also the assumptions of an enterprise-class platform that is primarily service-oriented. Klaytn is supposed to ensure the integration of the different blockchains, both private and public. It is now known that this is undoubtedly a successful hybrid project that allows you to create a decentralized business platform. 

How KLAY works

The platform itself is distinguished primarily by its above-average scalability and this could be enough to achieve success. The project of Kakao, a company listed on the South Korean stock exchange, has many more advantages. Klaytn can boast of BApps applications that already operate in the blockchain environment. High bandwidth, fast network response, as well as seamless integration with older projects make it perfect for both start-up companies and implementation to already functioning complex applications used by global enterprises. 

The Klaytn platform is based on an improved version Proof of Work i Proof of Stake, i.e. Istambul BFT. It is thanks to this that it can boast greater efficiency than older blockchain projects. Dozens of applications are already running on it and new ones are still being developed. 

Klaytn also wants to grow thanks to the users. For this purpose, a special reserve of tokens has been created, which reward those who propose solutions to expand the network. 

Klaytn Token (KLAY)

The prizes are paid out in Klaytn (KLAY) tokens, which are used for all settlements in this blockchain. Their undoubted advantage is low transaction fees, resulting from the scalability of the network. That is why this cryptocurrency is enjoying a growing interest - the demand for it is natural due to the fact that it is worth paying for it in applications and incurring all other fees in the blockchain network.

Cryptocurrency Quote Klaytn (KLAY)

As of August 16, 2021, the KLAY cryptocurrency is listed at the 20th Cryptocurrency exchanges from around the world. There are 2 units in circulation, out of a target of 476 units. Each of them is currently valued at $ 393, which translates into a capitalization of $ 441 billion. The peak was on May 10, 602, when KLAY cost $ 255 and was close to breaking into the top ten cryptocurrencies in terms of capitalization. However, it is possible that sooner or later it will succeed - especially if the price continues to rise so quickly. Only in the last month, the price of KLAY increased by 472%, of which 1,91% was recorded in the last week.