Klaytn[KLAY]
Klaytn is a Layer 1 blockchain designed for enterprise-grade reliability and optimized performance, enabling businesses to leverage it.
Klaytn is a public blockchain project tailored for business purposes. It combines the capabilities of public and private blockchains to provide a user-friendly blockchain experience through its hybrid infrastructure. It was launched in June 2019 and has a large share of the South Korean blockchain market.
Klaytn utilizes a modular network that enables businesses to easily connect and build their own custom service-oriented blockchains on the Klaytn architecture. These individualized blockchains, known as service chains, operate as subnetworks and run autonomously. This feature enhances Klaytn's enterprise-friendly ecosystem, allowing businesses to tailor their blockchain solutions to their specific needs.
Klaytn, being primarily geared towards enterprise applications, replaces the traditional Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus mechanisms with an improved variant of Istanbul Byzantine Fault Tolerance (IBFT). This consensus mechanism offers enhanced security and reliability, making it well-suited for the specific requirements of enterprise blockchain use cases.
Klaytn utilizes a modular network that enables businesses to easily connect and build their own custom service-oriented blockchains on the Klaytn architecture. These individualized blockchains, known as service chains, operate as subnetworks and run autonomously. This feature enhances Klaytn's enterprise-friendly ecosystem, allowing businesses to tailor their blockchain solutions to their specific needs.
Klaytn, being primarily geared towards enterprise applications, replaces the traditional Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus mechanisms with an improved variant of Istanbul Byzantine Fault Tolerance (IBFT). This consensus mechanism offers enhanced security and reliability, making it well-suited for the specific requirements of enterprise blockchain use cases.
Smart Contract PlatformLayer 1 (L1)