Presenting Klaytn at Ethereum’s Devcon 

It all started with an e-mail from Devcon5 that our Junghyun, the leader of Platform & SDK Team, received:

Junghyun had believed that the rigorous demands of taking care of blockchain user account addresses, which typically associate with randomly generated character strings, stand as one of the biggest barriers that hinders blockchain mass adoption. In order to overcome such usability limitations, specifically within the Ethereum sphere, Junghyun, together with the Klaytn team, focused on extending account and transaction models while preserving compatibility, which were successfully incorporated into the Klaytn mainnet, launched this past June.

He believed that Klaytn’s new account and transaction models are applicable to other Ethereum-compatible blockchain platforms to increase usability and performance. He thus proposed to introduce this system at this year’s Devcon, and he was officially invited to speak at this year’s Devcon, with a comment from the Devcon Team: “the Ethereum community should see this.”

And we were off to Osaka, Japan.

Devcon 5 at ATC Hall in Osaka, Japan

Devcon is the annual Ethereum developers conference held by the Ethereum Foundation. With a mission to educate and empower the community to bring decentralized protocols, tools, and culture, Devcon invites builders of all kinds: developers, designers, researchers, community organizers, social economists, and artists.

The first day of the conference started with the opening ceremony of the Ethereum Magicians, which is a self-organized fellowship, initiated by James Pitts and Greg Colvin in order to maximize technical opportunities, share ideas, and work together effectively across boundaries. With a mission to keep Ethereum “the best it can technically be,” the fellowship seeks to nurture community consensus on the technical direction and specification of Ethereum. In doing so, the fellowship invites any interested person to participate in improving the Ethereum improvement process, which can be submitted to the Ethereum Improvement Proposals, aka the EIPs. The EIPs describe standards for the Ethereum platform, including core protocol specifications, client APIs, and contract standards, which can be proposed by any Ethereum community member.

The opening ceremony also introduced the Ethereum Cat Herders, a global grassroots community dedicated to improving the Ethereum protocol and community by improving underlying practices. The Cat Herders are in a sense ‘project managers,’ dedicated to facilitating and coordinating tasks required to achieve specific project outcomes within the Ethereum ecosystem and so assist with moving Ethereum forward.

It was no surprise that Devcon 5 kick-off emphasized the power of community, which is often overlooked when we discuss blockchain. Community is the group of people, companies, and other organizations that together support and maintain the blockchain. It can include the core developers who work on building the network itself, the miners who own and operate the nodes that constitute the network, the larger ecosystem of developers and entrepreneurs who are developing applications on the network, the users who enjoy a variety of applications built on the network, and other researchers, participants, advisors, etc.¹ To run, maintain, and support a project, especially if it is decentralized, the communication, coordination, and facilitation among the productive community of dedicated members stand as key components.

Klaytn, the Ground for All Blockchain Services

We Klaytn also believe that building a strong community is one of the key elements in running our project. Committed to facilitating the creation of readily-usable blockchain applications (BApps), we are a 100% open source project to which we invite all the community to participate as a partner, a contributor, and a supporter of the project. You can visit our GitHub page at https://github.com/klaytn/klaytn to find more about the official Go implementation of the Klaytn protocol. For more details on Klaytn design, node operation guides, and application development resources, please visit the official Klaytn Docs, which recently released its Korean version as well. Further, you can also visit our Community at Klaytn Medium page to find more information about our efforts towards community building.

After the Opening Ceremony, our team enjoyed a variety of inspiring sessions including Ethereum Roadmap 2020: EEA Meets with the Ethereum Community, which called for the protocol standardization, How Two Microsoft Engineers Build Blockchain Apps on Ethereum Networks featuring Microsoft’s Azure, Ethereum Roadmap 2020: Ethereum 1.0 and Eth1.x with Vitalik, State of Ethereum 2019, which explored the network’s growth based on Google Analytics data, Preventing Disaster: Advances in Smart Contract Vulnerability Detection, featuring MythX, and many more.


After the first day of the conference, we attended the Global Coin Research x Decrypt Media Founder Happy Hour in the evening to see our partner, Joyce, the Founder and Editor-in-Chief of GCR. Joyce earlier participated in a discussion session with our Jason at the Consensus 2019 in New York. GCR’s recently published e-book, “The Small Handbook to Asia Crypto: on Local Ecosystems, Trends and Regulations,” also features Klaytn, which you can access via here.

Sam introducing Klaytn’s vision and technology at KryptoOsaka Meetup

Later, we participated in the KryptoOsaka Meetup: BUIDLing projects of East and West, hosted by Erica of KryptoSeoul. Our Sam, the Head of Technology, introduced Klaytn’s vision and technology, and engaged in a discussion session with other great panelists from CoinMarketCap, HyperLedger, Cosmos, Terra, Zcash, and BlockStack. We were also excited to see some of our community members including the 1st place winner of the past Klaytn Hackathon!

Junghyun presented on the 2nd day on Klaytn’s extension of Ethereum’s account and transaction models. He first introduced some of Klaytn’s features that support enterprise usability and mass user adoption: immediate finality, high performance, high scalability, hybrid network architecture, and high usability.

He then identified some of Ethereum’s usability limitations that include immutable private key, lack of multisig mechanism, difficulty of extending functionalities, unnecessary transaction fields, and lack of fee delegation.

In efforts to improve such limitations, Klaytn has adopted some of new features. First, Klaytn has added account management functions to offer better flexibility in empowering users: changeable private keys, support of multiple private keys, and support of role-based keys, i.e. breaking down permissions based on signing transactions, updating accounts’ key, paying transaction fee on behalf of users. The native support of multi-sig and role-based keys, which is demanded by industry, will hopefully accelerate the blockchain mass adoption and build trust with users.

Junghyun presenting ‘Extending Ethereum’s Account and Transaction Models in Klaytn’ at Devcon5

Klaytn also refined the transaction model so that each transaction type serves a specific function. This separation of concerns gives more opportunities for performance, usability enhancement, and storage optimization (i.e. 64B reduced for EOAs by adding 1B overhead for type per account) as well as makes it easy to add or extend platform features. Utilizing this design, we introduce several new transaction types without breaking backward compatibility to support the transaction-fee delegation and the extended account management features mentioned above.

Klaytn’s new account and transaction models are also applicable to other Ethereum-compatible blockchain platforms, and we hope that our system can trigger the mass adoption of blockchain experiences for millions of users across the globe.

It truly was a meaningful opportunity for us to be able to share our efforts towards enhancing usability at this year’s Devcon. We are very grateful for all the attendees, including the Tokyo FinTech’s wrap-up on Junghyun’s presentation!

In addition to our sessions and meetups, we also met with several teams and projects that could potentially work together with us in the future. We are dedicated to continually offering high-quality and user-friendly blockchain services, and together with our partners, we will further strengthen our ecosystem.

Devcon 5 was full of inspiring sessions and exhibitions, plus great rest zones, giveaways, and treats. We also look forward to seeing the newly proposed Ethereum 2.0 moving forward.

More updates on our technology and business to be shared on our Medium page.

Thank you.

About Klaytn

Klaytn is a public blockchain focused on the metaverse, gamefi, and the creator economy. Officially launched in June 2019, it is the dominant blockchain platform in South Korea and is now undergoing global business expansion from its international base in Singapore.

These business expansion activities are supported by the Klaytn Growth Fund, which aims to grow the ecosystem of companies built on Klaytn. The fund is managed and disbursed by Klaytn Foundation, a Singapore-based non-profit organization established in August 2021.

Klaytn Official Community
https://klaytn.oas.asia/
http://twitter.com/klaytn_official
https://www.facebook.com/klaytn.official/
https://www.linkedin.com/company/klaytn
https://www.facebook.com/groups/klaytndevelopers/


[1] Josh Stark, “Building the Foundations for a Scalable Ethereum Community” CoinDesk: https://www.coindesk.com/building-foundations-scalable-blockchain-ethereum-community

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© Klaytn Foundation 2022. All rights reserved.
© Klaytn Foundation 2022. All rights reserved.