Klaytn is an enterprise-grade, service-centric platform that brings a user-friendly blockchain experience to millions of users. It has become the 26th blockchain available on Rubic for cross-chain and on-chain swaps.
What is Klaytn?
Klaytn is a highly optimized, BFT-based public blockchain that aims to meet enterprise-grade reliability.
Being a fast, secure, and efficient blockchain, Klaytn is run by an innovative governance structure, consisting of an alliance of leading DAOs and multinational organizations that operate their consensus node network and drive ecosystem growth. 19 reputable corporations worldwide initially formed the Klaytn Governance Council to operate consensus nodes.
The current number of consensus nodes is shown in the Klaytnscope.
More than 50 initial service partners have committed to launch Blockchain Applications on Klaytn.
Rubic and Klaytn
The Klaytn Network was integrated into Rubic.exchange through Multichain as a provider. A DEX conducting swaps from and to Klaytn is ClaimSwap (also integrated into Rubic).
Now, users can swap MAI, QI, and WEMIX tokens (depending on the chain) across 9 other blockchains: Ethereum, BSC, Polygon, Fantom, Moonbeam, Optimism, Arbitrum, Gnosis, and Celo.
Let’s explore the Klaytn Network in numbers:
Market Cap: $553M
TVL: $207M
Total transactions: 251,350,649
Average block time: 1 second
Avg Transactions per Block: 6
Klaytn’s Key Differentiators
- One-second finality
Even with more consensus nodes, better performance, and numerous feature enhancements, Klaytn will maintain 1-second block finality to ensure speedy transactions that will never be reversed.
- Throughput (TPS)
Klaytn’s performance will be further boosted through a combination of
network upgrades and layer 2 solutions, allowing it to handle a massive
number of transactions.
- Scalability
Klaytn 2.0 will address scalability through service chains, their easily
customizable and deployable L2 solution. Other solutions, such as sharding or
rollups, are also being planned for the future.
- Tiered Network
Klaytn’s tiered structure delivers transactions to the consensus nodes effectively by distributing the workload for greater stability. Their nodes are also continuously fortified to ensure seamless operation.
- User Experience
Klaytn delivers a superior user experience by providing fast transaction processing suitable for mobile environments, the ability to update exposed keys to mitigate risks, and fee delegation to transfer the transaction fee burden.
- Interoperability
Various ecosystems (such as DEXs, Bridges, Oracles, etc) flourish on Klaytn.
The asset transfer or exchange between Klaytn and other blockchains is easy.
Klaytn: A Bigger Picture
Klaytn can be partitioned into three logical subnetworks based on their roles and purposes. The below figure displays a high-level view of the Klaytn ecosystem.
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.
Core Cell Network and Endpoint Node Network form a Klaytn main chain or mainnet. Blockchain Applications can run on the Klaytn main chain, Cypress, or can operate on their own blockchains called Service Chains. If you want to have a dedicated execution environment for your application that guarantees high TPS and configurable network policies, we recommend using Service Chain.
Klaytn Ecosystem
Klaytn’s ecosystem unites more than 300 various projects from the cryptosphere, with focuses ranging from Gaming, NFTs, Enterprise, DeFi, and others. Explore a list of notable projects built by creatives, studios, and enterprises who are realizing their metaverse dreams on Klaytn here: https://klaytn.foundation/ecosystem/
We’ll also take a closer look at ClaimSwap, which is integrated as a DEX for the Klaytn network to Rubic.exchange.
ClaimSwap is a protocol inspired by SushiSwap and operates by smart contracts in the Klaytn blockchain. ClaimSwap allows you to swap various cryptocurrencies.
ClaimSwap aims to build a leading global community representing the Klaytn ecosystem. They’ve already become a channel where all Klaytn users can communicate, regardless of the project they are involved in.
Community is the core engine propelling the growth of ClaimSwap. In ClaimSwap, the governance token CLA determines all decisions which shape the future of the protocol. Their ultimate goal is to become a protocol led by the community.
Enjoy trading on Klaytn via the ClaimSwap DEX at Rubic.exchange!
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About Rubic
Rubic is a One-Click Cross-Chain Aggregator which allows users to swap any of 15,500+ tokens, across 26 blockchains and receive the best rates from all leading trading providers. Rubic includes On-Chain & Cross-Chain swaps for Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Arbitrum, Gnosis, Fuse, Celo, Optimism, Moonbeam, OKC, Boba, Tron, Moonriver, Cronos, and Bitcoin; with seamless fiat on-ramps and more!
Rubic provides the tools for crypto projects to become fully interoperable between blockchains, with an easy-to-install widget and a fully-customizable SDK. Rubic is already servicing more than 130 projects! Installation of Rubic’s SDK or Widget unlocks DeFi for any project, with access to over 15,500+ tokens across 26 blockchains, all available right on your website or inside your app.
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