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The live price of Klaytn (KLAY) today is 0.309125 USD, and with the current circulating supply of Klaytn at 3,495,469,906.85 KLAY, its market capitalization stands at 1,080,538,660 USD. In the last 24 hours KLAY price has moved ? USD or 0.00% while ? USD worth of KLAY has been traded on various exchanges. The current valuation of KLAY puts it at #95 in cryptocurrency rankings based on market capitalization.
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Klaytn (KLAY) is a public blockchain platform developed by Ground X, the blockchain subsidiary of the South Korean Internet giant Kakao. Klaytn aims to bring blockchain technology to the mainstream by providing a user-friendly blockchain experience. It combines the best features of both public and private blockchains through its hybrid design.
Klaytn uses a practical Byzantine Fault Tolerance (PBFT) consensus algorithm, which is a state machine replication that tolerates Byzantine faults. This consensus mechanism allows for high transaction throughput and low latency.
Klaytn operates on a hybrid blockchain, combining the transparency of a public blockchain with the speed and security of a private blockchain. This unique approach allows businesses to build and deploy large-scale decentralized applications (DApps) on its platform.
Klaytn is designed for high scalability, supporting a high number of transactions per second (TPS) to cater to large-scale DApps.
With its hybrid blockchain design, Klaytn ensures secure and private transactions while maintaining transparency.
Klaytn provides privacy features that allow users to control the visibility of their transactions.
Despite its hybrid nature, Klaytn maintains a high level of decentralization through its governance council, composed of reputable enterprises worldwide.
The Klaytn project is spearheaded by Ground X, the blockchain subsidiary of Kakao. The governance model is based on a council of trusted entities that participate in the consensus mechanism.
Klaytn is designed for real-world use cases, aiming to make blockchain technology accessible and easy to use for everyone. It has the potential to disrupt various industries by enabling the development of large-scale DApps.
KLAY tokens can be purchased on several cryptocurrency exchanges, including Binance and Upbit.
KLAY tokens can be stored in any wallet that supports the Klaytn blockchain, including the official Klaytn wallet.
Klaytn has partnered with various enterprises worldwide, including LG Electronics and Union Bank of the Philippines, to expand its ecosystem.
Klaytn's future plans include further improving its platform's scalability and security, expanding its global presence, and fostering a vibrant ecosystem of DApps.
Like any blockchain project, Klaytn faces challenges such as regulatory uncertainties and the need for wider adoption of blockchain technology.
Klaytn has a strong community of developers and users, supported by the wider Kakao ecosystem.
Klaytn is committed to complying with all relevant regulations in the jurisdictions it operates in.
In conclusion, Klaytn is a promising blockchain platform that combines the best features of public and private blockchains. With its user-friendly design and strong backing, Klaytn has the potential to bring blockchain technology to the mainstream.