Klaytn (KLAY) Price Today

When a new network and cryptocurrency is created, the market is initially cautious about most of them. In the case of Klaytn, however, things were different. Thanks to the prominence of the creator brand, tech giants such as LG, Netmarble, and Celltrion were quick to join the trials.

KLAY is the proprietary cryptocurrency of Klaytn, Kakao's enterprise-level service-oriented platform, which aims to provide millions of users with a user-friendly blockchain.

How KLAY works

A token is used for all transactions that take place on the platform and in all other blockchain applications on the network. It serves as a means of payment and exchange for all applications running in the Klaytn ecosystem.

Their undoubted advantage is the low transaction fees due to the scalability of the network. Initially, 10,000,000,000 tokens were issued, and users are then offered the opportunity to mine new ones using mining with a reward per block of 9.6 KLAY. The first issued tokens are distributed as follows:

  • To the Board of Founders of the company: 34%.

  • Proof of Contribution (PoC) participants: 54%.

  • To the maintenance and development of the Klaytn Improvement Reserve (KIR) project: 12%.

Who Created KLAY

Klaytn started with Kakao, South Korea's leading publicly traded technology company. This country is one of the leaders in blockchain adoption.

Klaytn has more than 45 service partners, including projects such as Rayon, Atlas, and Hint Chain. In addition to Kakao's strong brand recognition, the management board includes such giants as LG Electronics, Samsung, and UnionBank. Given such an impressive list, interest from outside developers will only grow.

The main projects implemented in the Klaytn ecosystem are:

  • Creating a public blockchain platform for individuals and large companies.

  • 'Service Chain' - allows businesses and private users to create their own blockchain with the ability to integrate into the Klaytn network.

  • Blockchain App - technological part of the Klaytn ecosystem that helps companies integrate Blockchain using pre-developed applications.

KLAY cost

Klaytn has never held an ICO for the KLAY token, but there have been two rounds of fundraising. The first was in December 2018 and sold tokens for a tenth of a dollar each, and the second was in April 2019, in which the KLAY crypto price nearly doubled. As you can see, this has turned into a very lucrative investment for early private investors. The daily trading volume is $11 million dollars. The KLAY price chart clearly shows its changes, in addition, the KLAY coin price real time can be found on any exchange.

The current KLAY price exceeds one dollar, and according to further forecasts, it will only grow, which allows us to consider this coin as quite promising. Klaytn is backed by a host of respected brands from around the world who is working together to build a robust business platform based on a robust decentralized trust system.

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