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What is Klaytn (KLAY)? How to buy KLAY Crypto in India?

KLAY Crypto

Snapshot:

  • What is Klaytn (KLAY)?
  • Who are the founders of KLAYTN? 
  • How does KLAY work?
  • Key Attributes of KLAY
  • How to buy KLAY Crypto in India 

WHAT IS KLAYTN (KLAY)?

Klaytn is a public blockchain developed by Ground X for individuals who want to build, work and play in the metaverse. It is an economic platform that supports and promotes the creator economy. The network’s native token is ‘KLAY’.  Klaytn has a hub and spoke model through which service chains are deployed for dApps and these chains are linked to the main chain for better scalability. These service chains are called BApps. Klaytn offers  customized L2 solution, SDKs, smart contract libraries, wallets, oracles, explorers, bridges, TradFi interfaces, and stablecoin integrations.

WHO ARE THE FOUNDERS OF KLAYTN?

Dr. Sangmin Seo is the CTO of Klaytin foundation and the founder of Ground X. He is a Computer Scientist, Argonne National Lab Ph.D. in CS, SNU. 

David Shin Global Adoption Head of Asia, Tezos Head of Exchange, Bitcoin.com Served as Director & VP in investment banks. 

Younho Lee Klaytn Strategy & Treasury Lead of Klaytn Business, Ground X Investment Director, Huobi Korea Investment Manager, Lindeman Asia

HOW DOES KLAYTN WORK?

Klaytn uses a consensus method called IBFT – Istanbul Byzantine fault tolerance. Though it is not a PoW or PoS mechanism blockchain, it does enable PoS consensus to accommodate a small number of initial validators while maintaining IBFT as the primary consensus method. The Klaytn blockchain has its own virtual machine. Check out the ecosystem use cases of Klayn Ecosystem.

Check out the Latest Prices, Charts, and Data of  KLAY/USDT

KEY ATTRIBUTES KLAY CRYPTO

Klaytn’s data assurity

Klaytn’s IBFT consensus algorithm guarantees that data recorded on the blockchain is correct and will never be reversed, in order to deliver the reliability and data consistency needed for large-scale applications.

Ethereum equivalence 

Development tool: Any Ethereum-based tool can be seamlessly integrated within the Klaytn network. New tooling created in the Klaytn ecosystem could be reciprocally adopted within the Ethereum ecosystem. This means that developers can use SDKs and other tools to switch between Ethereum and Klaytn. 

EVM and API 

Klaytn has been built on top of Ethereum stacks with open codebases. Supporting such equivalent Opcodes and stack logic in the Klaytn EVM environment would see execution behavior

Core development contribution

The majority of Ethereum Improvement Proposals (EIPs) could be migrated and adapted to the Klaytn core development agenda and in turn Klaytn Improvement Proposals (KIPs)

One stop chain for metaverse builders

With open source developer tools and packages for bridges, SDK for development, Oracles to fetch data and smart contract library; developing on Klaytn will be a different and moreover seamless experience for developers. Apart from dev tools high throughput, L2 interoperability and community strengthening instruments like DAOs, game guilds, launchpads and alliance with Global players are an addition to the platform. 

Treasury and grant support 

Treasury advisory for developers, access to Klaytn Growth Fund and IP-centric investment fund are some opportunities to kickstart your own metaverse. Besides funding, performance incentives and GC invitations are also offered.

Things you need to know about Klaytn 2.0

The new version of Klaytn blockchain will have enhanced features and offerings like ‘Finality 1’, a comprehensive metaverse package, equivalent compatibility to be able to use Ethereum tools, a DAO for stakeholders to participate unanimously and most importantly a 1B eco-system fund to support projects built on Klaytn.

Additional Read: 6 Reasons behind the latest Crypto Market Crash 

HOW TO BUY KLAY CRYPTO IN INDIA

Use this three-step process to buy your first KLAY Crypto  using the CoinDCX crypto investment app in India

  • Sign Up for the CoinDCX account: Enter a valid email address and a user name on the sign-up page. Once the Email Id has been verified, set a strong password to secure your account.
  • Verify the account: You need to complete your KYC, to buy KLAY  on the CoinDCX platform. All you need to do is upload the documents and your account will be set up in 15 minutes.
  • Buy KLAY Crypto: After the account has been verified, you can deposit any amount of fiat currency you are comfortable with and start your crypto journey!
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