Klaytn Ico Review: It Is Legit Or Scam Ico?

About Klaytn Ico

Klaytn Ico, an enterprise-grade, service-centric platform that brings user-friendly blockchain experience to millions of users. In the following documents, they explain what Klaytn is and provide guidelines and instructions on how to use They , as well as how to interact with the network. Klaytn is an open-source public blockchain for all who wish to build, work, or play in the metaverse.

Token Basic Information

Klaytn is a Highly optimized

Klaytn is a highly optimized, BFT-based public blockchain that delivers enterprise-grade reliability to serve as a metaverse blockchain for all.

Performance

With real-world 4,000 TPS and 1-second transaction finality, Klaytn Ico brings you an unparalleled developer experience.

SCALABILITY

With Klaytn ServiceChain, you can build customized side chains that provide dedicated throughput without sacrificing transparency and data integrity.

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Grants

Klaytn Ico welcomingly supports contributors to our ecosystem by providing grants for projects and activities.

Community

Community: The active community built around the common passion for and the web3 space has your back.

Why Klaytn

​ Klaytn is built to be the fundamental trust layer for the metaverse, respecting the participation and contribution from all communities, empowering and bringing them together in the new world. ​ The foremost design principle is.

High Performance

Throughput(TPS) and Finality

• Main chain should handle at least 4,000 TPS.
• Main chain should guarantee immediate transaction finality with one-second block generation time.

Scalability

• Service chain is the default L2 solution for Klaytn Ico 2.0 that is customizable and easily deployable. The service chain can have its own governance and connect to the main chain to anchor data or transfer assets.
• See Service Chain. Enterprises or large networks often want to have their own dedicated execution environment. With the service chain, they can maintain an isolated high-performing execution environment that is not affected by other blockchain applications.
• Other scalability solutions will be available in the near future, such as sharding or rollups. ​

Low Cost

• End-users should not be burdened with any higher transaction fee beyond what the traditional systems require.
• Transaction fee should be stable and be determined by the transaction complexity itself, and not the surrounding factors.
• See Affordable Smart Contract Execution Cost and Transaction Fees. For a gas price of 250 ston, a KLAY transfer would incur a fixed cost of 0.00525 KLAY. (21,000 Gas for KLAY transfer x (250 x 10^-9) == 0.00525 KLAY) ​

Ethereum Compatibility

Development Tools

Any tooling that can run on Ethereum will run seamlessly within the Klaytn ecosystem by making the technical stack equivalent, from an interfacing and execution perspective, to the existing Ethereum stack. New tooling created in the ecosystem could be reciprocally adopted within the Ethereum ecosystem.

EVM and API

By building on top of existing Ethereum stacks we inherit any improvements made to the open-source codebases of EVM and supporting libraries. Supporting such equivalent Opcodes and stack logic in the Klaytn EVM environment would see execution behavior is guaranteed equivalent; and supporting a set of JSON-RPC APIs with equivalent endpoint payload syntax guarantees full Ethereum interfacing equivalence.

Core Development Contribution

Supporting Ethereum equivalence translates most to the mutual benefit to both the Klaytn Ico and Ethereum ecosystems. The majority of Ethereum Improvement Proposals (EIPs) could be migrated and adopted to the core development agenda, and in turn Improvement Proposals (KIPs) could contribute to the advancement of Ethereum and EVM. When the development community contributes to one ecosystem, they are indeed contributing to both.

Consensus Mechanism

A consensus mechanism (algorithm) is a way of reaching a consensus between trustless entities. In blockchain technology, it is used to reach a consensus about if a block is valid or not. The performance of blockchain networks relies on the performance of the adopted consensus mechanisms, and it has a significant impact on the perceived usability of the Blockchain Applications. Klaytn Mainnet Cypress exhibits the following performance.

• Handles 4,000 transactions per second.
• Immediate transaction finality.
• One-second block generation time.
• Over 50 consensus nodes can participate in the consensus process.

Token Economy

Klaytn Ico token economy is designed to create sustainable funding structures for empowering its ecosystem, growth initiatives, and strategic investments. Many public blockchain projects have monetary systems that solely incentivize their node operators (miners or block producers), focusing only on the technical aspect of network maintenance. However, such designs miss out on the importance of incentivizing other types of participants who contribute to the growth of the network’s token economy or invest in long-term growth prospects.

In contrast, token economy is designed to compensate more diverse forms of contributions from a wider range of participants, and has built-in funding structure to procure sustained resources to fuel future growth initiatives and strategically sourced investment projects in addition to maintaining its blockchain nodes.

Klaytn Governance Council Reward

Klaytn Governance Council is the collective group of Core Cell Operators (CCOs). Council members are responsible for maintaining Core Cells (CCs), which makes the Council an essential body in the ecosystem responsible for providing the underlying infrastructure. To become a Council member, the candidate must undergo a qualification review by the Governance Process and must stake at least 5 million KLAY. The Governance Council Reward is a structure for incentivizing Council members to continue to provide a stable foundation for the ecosystem.

Team

Dr. Sangmin Seo Director, Klaytn Foundation

David Shin Global Adoption

Younho Lee Klaytn Strategy & Treasury

Junghyun Kim Core Development

Terry Wilkinson Ecosystem Solutions

Neo C. K. Yiu Technology Advocacy