The KLAY price update as of now is $0.1311. In the previous 24 hours, its trading volume was $453,999, and its value has increased by 0.00%. As of now, KLAY's live market cap is $320,940,552, and it is ranked as the #992 on the Coincu. KLAY has a circulating supply of 10,527,368,819 and a maximum supply of 10,527,368,819.

Introduction to Klaytn (KLAY) Klaytn is a public blockchain platform created by Ground X in June 2019. Its primary goal is to provide a user-friendly experience and development environment to showcase the advantages of blockchain technology. Ground X, a subsidiary of Kakao Corporation (Korea's largest internet messaging company), combines the best features of public and private blockchains in a single platform. With the recent launch of Klaytn 2.0, the team is undertaking a chain-rebuilding initiative to position the blockchain as the metaverse blockchain for all. By utilizing an EVM-equivalent layer 1 blockchain, Klaytn aims to serve as the trust layer for all communities, uniting them in a new world and empowering them. Understanding Klaytn's Functionality Klaytn operates through three logical subnetworks that facilitate the integration of private and public blockchains: - Core Cell Network (CCN): This subnetwork verifies and executes transactions while distributing blocks across the network. - Endpoint Node Network (ENN): In charge of transaction creation and processing data requests from service chains. - Service Chain Network (SCN): These Klaytn subnetworks are independently operated by blockchain applications (BApps) and connected to the main chain via Endpoint Nodes. This allows for high transaction speeds for BApps running on either the Klaytn public chain (CCN + ENN) or private chain (SCN). Klaytn's Innovative Consensus Mechanism Klaytn deploys an advanced consensus mechanism called Istanbul Byzantine fault tolerance (IBFT) to cater to enterprises with high data transaction volumes. This mechanism ensures rapid finality and eliminates forks, providing immediate block finality upon consensus. The Klaytn network comprises three types of nodes: Consensus Nodes (CN), Proxy Nodes (PN), and Endpoint Nodes (EN). CNs, managed by Core Cell Operators (CCOs), generate blocks, which are then verified by all nodes in the network. Key Features of Klaytn Klaytn offers several noteworthy features: - 'Metaverse Package' for Builders: This package encompasses toolkits, SDKs, frameworks, and solutions for seamless blockchain integration and development. It also includes distributed storage services, oracle assistance, and integration/abstraction capabilities. - High Performance: Klaytn delivers instant finality, scalability through service chains, and low transaction costs. - Ethereum Compatibility: Klaytn ensures compatibility with Ethereum, allowing for the integration of Ethereum Improvement Proposals (EIPs) and Klaytn Improvement Proposals (KIPs) to benefit both ecosystems. - Decentralization with Stability: Ultimately, Klaytn's governance will be decentralized through DAOs and builders, enabling stakeholders to shape the platform's direction. For more information on Klaytn, click here.