What Is Klaytn (KAY)?
It's a business oriented project, that is to say that its solutions are designed above all to be offered to companies. It is a Layer 1 blockchain with its own Layer 2 solutions via its service chains.
Klaytn combines the characteristics of a public blockchain and those of a private blockchain, in order to benefit from the best of both. Decentralization on the one hand, and high scalability on the other. This is a project that has chosen a consensus Istanbul Byzantine Fault Tolerance (IBFT) Proof of Stake (PoS).
Thus, transactions made on the Klaytn network benefit from an immediate finalization with a block generation and confirmation time of 1 second. Klaytn is capable of processing 4,000 transactions per second.
This blockchain platform is therefore optimized to meet the requirements of companies in terms of blockchain. It offers a user experience that is ergonomic, reliable and simple for companies.