KLAY/USD: Convert Klaytn (KLAY) to United States Dollar (USD)

Klaytn (KLAY) is a global public blockchain platform developed by GroundX, a subsidiary of the renowned Korean IT company, Kakao. Launched in June 2019, Klaytn aims to facilitate the mass adoption of blockchain technology by providing a seamless and user-friendly environment for both developers and users. Klaytn's unique architecture offers low transaction latency, enterprise-grade reliability, and a developer-friendly environment. The platform's native digital asset, KLAY, fuels and secures the Klaytn protocol. Klaytn's ecosystem has grown to include over 300 decentralized applications and has generated more than 1 billion transactions, making it a significant player in the blockchain space.

Klaytn operates using an optimized version of Istanbul BFT consensus algorithm, which allows transactions to achieve absolute finality within a second. This feature enables responsive user experiences and supports use cases where near-instant and irreversible finality is necessary. Klaytn's unique governance structure includes a Governance Council, composed of leading global enterprises and DAOs, which forms a compact validator network. This network delivers the benefits of a decentralized public blockchain while maintaining the performance of a permissioned blockchain. Klaytn also utilizes a hub-and-spoke model for scalability, with service chains that can be customized for specific DApp requirements.

Klaytn's potential use cases span a broad array of sectors, from DeFi to real-world assets, entertainment, gaming, and even central bank digital currency (CBDC) pilot projects. Its low transaction latency and enterprise-grade reliability make it suitable for large-scale applications that require high throughput, special node configurations, or custom security levels. Klaytn's support for Ethereum Virtual Machine (EVM) and its equivalent technical stack enable the integration of Ethereum Improvement Proposals (EIPs) and Klaytn Improvement Proposals (KIPs), contributing to both ecosystems. This compatibility with Ethereum also opens up possibilities for the development of applications for the metaverse and Web3.

Klaytn was developed and launched in June 2019 by GroundX, the blockchain subsidiary of Kakao, Korea's largest mobile platform. After two years of success in Korea, the Klaytn Foundation was established to accelerate global adoption and ecosystem maturity on Klaytn. The foundation manages the Klaytn Growth Fund and operates alongside Krust, a subsidiary of Kakao Corp that invests in projects built on Klaytn. Klaytn has since become one of the only globally competitive Web 3.0 ecosystems developed in South Korea. It has also partnered with industry titans such as Japan's GMO Internet Group, Indonesia's Salim Group, and mobile gaming giants Netmarble and WeMade, further solidifying its position in the blockchain space.