What is Klaytn? – Definition, Efforts, and More

Definition of Klaytn

Klaytn, the enterprise-grade, service-centric platform that brings a user-friendly blockchain experience to millions of users, is the service-centric blockchain platform.

And it is also developed by Ground X, the blockchain subsidiary of South Korea’s No. 1 mobile platform, Kakao.

And not only for the end-to-end-users, but Klaytn also provides the Private Chain for the independent operation of the Blockchain.

Also, it gives its own Layer 2 solution (Sidechain) called Service Chain for the enterprise that avoids the use of public Blockchain due to data privacy.

And Klaytn realized the block generation time with the finality of one1 second for the fast response time as in mobile applications.

It reached the high performance of 4,000 TPS (Transaction Per Second)—also, its performance plan to increase continuously.

How Does Klayton Effort?

Klaytn has four mechanisms:

1. Proof of Contribution (PoC)

In tradition, blockchain Proof of Contribution (PoC) can use in the process of mining. And however, Proof of Contribution (PoC) designs to compensate all participants in the Klaytn token economy.

2. Byzantine fault-tolerance (BFT)

Byzantine Fault Tolerance (BFT) enables two nodes to communicate safely across the network by displaying the same data.

And consensus achieves if the loyal or non-faulty nodes achieve a unanimous agreement on their decision.

3. EP (Enterprise Proxy)

It enterprise Proxy (EP) is the off-chain proxy. It provides BApp service providers with two main usages.

And it reduces the technical hurdles inevitable for using blockchain technology and supports Klaytn blockchain integration with traditional database and security systems.

4. Verifiable Random Function (VRF)

Since Klaytn uses the BFT-based consensus algorithm, taking many nodes in consensus is disadvantageous.

Also, Klaytn addresses this problem by randomly selecting the subset of CNs for each consensus round.

And verifiable random function (VRF) enables us to choose the random subset of nodes while proving that the selection is correct.