Klaytn (KLAY) Wallet

What is Klaytn?

Klaytn is an open-source metaverse platform solution whose mainnet was launched in 2019 and focuses on blockchain technology that can be applied at the enterprise level. The platform was introduced by a major tech company, Kakao, which was originally known for a monopoly instant messaging app KakaoTalk. The Klaytn network offers its users cheap high-speed transactions by processing 4,000 transactions per second at low costs. Such characteristics are achieved with the help of a hybrid blockchain that combines Proof of Work and Proof of Stake mechanisms under the PBFT (Practical Byzantine Fault Tolerance) consensus algorithm.

Klaytn Games

Klaytn Games is a play-to-earn game protocol that was developed by some members behind Kakao, becoming the first play-to-earn protocol in the Klaytn ecosystem. The project aims to solve three main issues within the Web3 gaming industry: fragmented information channels, which refers to the separation of information concerning play-to-earn games; lack of initial sales channel for game assets; and lack of channel for game promotion. The Klaytn Games platform’s goal is to support both the play-to-earn industry and the expansion of the Klaytn ecosystem.

Where to buy Klaytn (KLAY)

KLAY, the native token of the Klaytn network, has several applications within the project’s ecosystem. Firstly, KLAY is used as a utility token, powering the Klaytn ecosystem. Users can also pay transaction fees with KLAY and stake it via a platform wallet of their choice. However, to start using the asset you will need to purchase it first. KLAY can be found on most cryptocurrency exchanges and can even be found in some crypto wallets, including NOW Wallet. It is powered by ChangeNOW which searches for the best exchange rates at the moment of the transaction without any hidden fees. With NOW Wallet, you can purchase KLAY coins with a credit or debit card, and then securely store them.