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What is Klaynt

¿What is Klaynt?

Klaytn is a blockchain-based service that provides easy development and a nice user experience.

Klaytn launched its mainnet on June 27, 2019 known as Cypress.

Its native currency is the KLAY, it is also Klaytn’s internal transfer cryptocurrency, it is used to pay the value of transactions by executing smart contracts or transferring to currency.

The main idea of this network is to be enterprise-ready and service-focused to meet ideals. Klaytn provides a detailed set of blockchain application operating environments.

In order to give companies the power to innovate applications that incorporate key qualities granted by the Klaytn network including its clarity, protection and resistance to censorship.

¿What does it offer?

Klaynt offers applications that will be built out-of-the-box so that end users can fully utilize the supports or services without having to be a blockchain or cryptocurrency expert.

Likewise, Klaytn offers to communicate the value and strength of blockchain technology to users.

¿How does it work?

Klaynt works based on a PBFT (It is a consensus algorithm published in 1999 by Miguel Castro and Bárbara Liskov), the platform unites qualities of the public and private blockchain, giving access to the operation of real-world applications on a large scale in a way immediate.

Likewise, Klaytn confirms the transactions and generation of blocks in just one second, this means that the Klaytn platform is capable of storing four thousand transfers per second, it even has a gas rate of 1/10 eth.

Finally, Klaytn is compatible with EMV (Ethereum Virtual Machine).

This platform has provided support for the execution of Solidity contracts (collection of codes “its functions”) and data (its state) residing at a specific address on the Ethereum blockchain.

¿How is it regulated?

Being a decentralized platform, there is no financial institution that regulates it.

¿Why do people use Klaynt?

People use klaynt as this platform is backed by kakao, one of the most well-known organizations in South Korea, which gives strength to new investors.

Also, Klaytn, being a well-known platform, it is easy to find specific partners such as: LG Electronics, Binance and other well-known companies in South Korea.

¿How is Klaynt different from other blockchain platforms?

Unlike other blockchain platforms, Klaytn is backed by a strong capitalization of 2.7 million.

Which provides great stability to the investor, that the project is completely reliable.

Klaytn seeks to solve the problems that are visible on other platforms.

It also highlights a unique and scalable security system.

So transfers are fast at low cost and easy to manage decentralized applications among others.

Likewise, Klaytn does not have it easy at all, as it competes with tough rivals such as Ethereum, Solana, Polkadot, Cardano, among others.

¿Where can i buy Klaynt?

One of the ways where you can buy KLAY is through Binance as it has a huge tradable variety in trading you can trade a cryptocurrency fiat cryptocurrencies or just use a debit or credit card to buy the stablecoin they are also bank deposits allowed.

¿Did you know that you can buy and sell USDT and BUSD online thanks to the Gastcoin Gateway?

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