Wormhole Chains — Klaytn

1. What is Klaytn?

In 2019, Kakao — one of South Korea’s leading software enterprises — created Klaytn, a highly optimized, BFT(Byzantine Fault Tolerance)-based, and EVM(Ethereum Virtual Machine)-compatible L1 blockchain that aims to meet enterprise-grade reliability.

Klaytn launched its mainnet, Cypress, on Jun 27th, 2019, on the following premises:

a) High Performance

The Klaytn community can benefit from the chain’s immediate finality, 1-second block generation and confirmation time and high throughput with 4,000 transactions per second.

b) Low Cost

Klaytn has low gas fees that are almost one-tenth of Ethereum network fees.

c) Rapid Development

As Klaytn is Ethereum equivalent, developers are able to utilize the following features to build quicker with:

d) Enhanced User Experience

Protocols also have the option to transfer the user’s transaction fee to the application. The application operator can adjust the amount of subsidy for each transaction and implement more flexible business models such as freemium or subscription. Fee delegation will effectively lower user acquisition barriers.

e) A full-suite, protocol-level Eco Fund

Klaytn is the first, and the largest example in which the incentives supporting the ecosystem are encoded in an on-chain protocol tokenomics. 66% of the newly minted tokens are reinvested in the ecosystem.

f) Community

In addition to the protocol design, Klaytn will expand its territory through community co-building; it includes communities such as game guilds, investment DAOs, community DAOs, alliance with global players and more!

2. Structure

Klaytn can be partitioned into three logical subnetworks based on their roles and purposes. The below figure displays the high-level view.

Core Cell Network (CCN)

CCN consists of Core Cells (CCs) that verify and execute transactions submitted through Endpoint Nodes (ENs). CCN is responsible for creating and propagating blocks throughout the network.

Endpoint Node Network (ENN)

ENN consists of Endpoint Nodes (ENs) that mainly create transactions, handle RPC API requests, and process data requests from service chains.

Service Chain Network (SCN)

SCNs are Klaytn subnetworks composed of auxiliary blockchains independently operated by dApps (Decentralized Applications). Service chains are connected to the main chain via ENs.

3. Markets

Klaytn’s premier lending protocol, Klap Finance provides liquid markets for the following Portal-wrapped tokens:

4. Future

Klaytn aims to be the ‘One-Stop’ Chain for Metaverse Builders by providing developers with integrated solutions, that utilize Klaytn as the trust layer for their metaverse applications.

5. Contact & Docs

Stay up to date with Klaytn by following their social channels or dive into their Docs!

6. Wormhole noob? No problem.

If you’re new to Wormhole, here’s what you need to know:

  • The protocol’s total volume stands at over $50B, with over 800,000 transactions completed.
  • Currently, several thousand messages are submitted each day.
  1. Solana
  2. Ethereum
  3. Terra 2.0 & Terra Classic
  4. Binance Smart Chain
  5. Polygon
  6. Avalanche
  7. Oasis
  8. Fantom
  9. Aurora
  10. Karura
  11. Celo
  12. Acala
  13. Klaytn (NEW)

8. Join the ever-growing Wormhole community

If you have questions, need support, or just want to connect, join the Wormhole community, and keep up to date with our up-and-coming announcements. We’re always happy to hear feedback. Join our discord, and drop us a comment!

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Wormhole

Wormhole

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Cross-chain interoperability protocol connecting high value blockchains