Wider access to KLAY enables easier access to the Klaytn metaverse—and that means getting KLAY listed on as many centralized exchanges as possible, to bring convenient on-ramp, increased liquidity and token trading services for everyone to jump onboard our metaverse. Since the start of our global expansion phase late last year, we’ve been working to steadily get KLAY listed on leading exchanges worldwide.

With these listings, KLAY is now supported by over 45 CEXes, fiat on-ramps, and OTC/custodians across South Korea, Greater China, Thailand, India, Indonesia, Australia, Japan, US, Europe, Middle East, Africa, and the rest of the world.

Global

Binance (https://www.binance.com/en)

Crypto.com (https://crypto.com/)

Huobi Global (https://www.huobi.com/)

OKX (https://www.okx.com/)

Bybit (https://www.bybit.com/)

Kucoin (https://www.kucoin.com/)

FMFW (https://fmfw.io/)

HitBTC (https://hitbtc.com/)

Korea

Bithumb (https://www.bithumb.com/)

Coinone (https://coinone.co.kr/)

Korbit (https://www.korbit.co.kr/)

GDAC (https://www.gdac.com/)

Probit (https://www.probit.kr/)

BKEX (https://www.bkex.com/)

Greater China

MEXC (https://www.mexc.com/)

LBank (https://www.lbank.info/)

Bitget (https://www.bitget.com/en/)

Gate.io (https://www.gate.io/)

Hoo.com (Hoo.com)

Coinhako (https://www.coinhako.com/)

XT.com (XT.com)

Thailand

Upbit Thailand (https://th.upbit.com/)

Bitazza (https://bitazza.com/)

India

Wazirx (https://wazirx.com/)

CoinDCX (https://coindcx.com/)

Indonesia

Upbit Indonesia (https://id.upbit.com/)

Indodax (https://indodax.com/en/)

Australia

Coinspot (https://www.coinspot.com.au/)

Japan

Liquid (https://www.liquid.com/)

US

Bittrex (https://global.bittrex.com/)

EU

Bit2me (https://bit2me.com/)

PrimeXBT (https://primexbt.com/)

Africa/Middle East

BlockFinex (https://www.blockfinex.com/)

Rest of the world

Velic (https://www.velic.io/)

Nominex (https://nominex.io/)

Dcoin (https://www.dcoin.com/)

BTX (https://btxpro.co.kr/en)

Hollaex (https://dash.hollaex.com/)

Fiat on-ramp

Simplex (https://www.simplex.com/)

Banxa (https://banxa.com/)

Moonpay (https://www.moonpay.com/)

Changelly (https://changelly.com)

OTC/Custodian

Genesis Block (https://genesisblockhk.com/)

Copper (https://copper.co/)

Hex Trust (https://hextrust.com/)

These channels have expanded KLAY’s availability for all kinds of users and builders wanting to be part of our metaverse—and we’re not stopping here. Our team will continue to work with more exchanges to ensure that anyone, from any part of the world, can participate in the Klaytn metaverse.

This month, the Klaytn metaverse goes multichain with Chongqing Chain and Klaytn-Substrate, KLAY gets listed on Huobi Global, and more! Here’s a quick take on our top highlights and latest happenings.

Highlights from the month

New integrations and listings


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Hi, all. This is Klaytn Team.
In our previous article, we dispelled some common misconceptions about Klaytn’s technology. In this post, we would like to go over what makes Klaytn stand out as a global L1 blockchain.

Q. What are some technological strengths as well as points for improvement for Klaytn compared to other Layer 1 mainnets?

We are confident that Klaytn possesses global competitiveness, with the network’s fast throughput, block scalability, and TPS. But we do have to work on expanding our dev ecosystem as well as improving decentralization. The Klaytn Team is aware of these issues and we are doing our best to reform them.



Klaytn Network’s Competitive Edge

1. Throughput and finality
The table and graph below are comparisons of Klaytn with other blockchains. You can see that Klaytn’s transaction throughput is at least 3-4 times faster than that of other global top-tier Layer 1 mainnets.

The comparison was made against blockchains that can execute smart contracts and are known for their fast transaction speed: Polygon, Avalanche, and Solana. From the transaction’s propagation in the network till the confirmation of its receipt, Klaytn takes about 2 seconds, whereas other blockchains take about 6-8 seconds. Moreover, Klaytn does not require additional confirmations, so in terms of actual processing time, Klaytn has an advantage.

This graph provides an analysis of the data. The code used in the analysis is available on Github, and we will be adding more blockchains for comparison in the future. The result of the analysis can be found here. The transactions have been created following the instructions provided in the respective documentations of each blockchain.

2. TPS 

Klaytn is known to have 4000 TPS. It is a figure that has actually been measured in an environment identical to the mainnet. In other words, it’s not a theory, but an actual figure. We never attempted to deceive our users with a theoretical figure that is higher than the actual one.

We ran a stress test on the Klaytn mainnet Cypress before its official launch and confirmed 4000 TPS for KLAY transfer transactions. After the performance test, we reset the chain data to the genesis block on Cypress before launching. During last year’s network congestion, we again confirmed the mainnet’s performance as smart contract transactions were processed at 1000 – 2000 TPS for hours. (Transactions for smart contract executions require more computation, requiring more TPS than KLAY transfers). 

Technical improvements for Klaytn

1. dApp developer environment

The blockchain with the most dApp dev tools and references is Ethereum. Ethereum dApp developers can rely on a vast pool of open source, and they have an organic community sharing opinions and solutions for any issues arising in the development process. Klaytn, on the other hand, has less development tools and information, so many people initially experience difficulties developing dApps on Klaytn.

Klaytn quickly decided to improve the development environment for dApps. We opted to make use of Ethereum’s vast pool of development tools and information. Klaytn v1.8.0, which was applied to the Cypress network in March 2022 and the hardfork are the results of such efforts. You can now start using development tools including Ethereum SDK, Truffle or Hardhat in the Klaytn ecosystem. For example, you can run Uniswap or Snapshot’s open-source code on Klaytn with just minor value changes.

Enhanced Ethereum compatibility not only lowers the entrance barrier for developers, but enables other services developed on other EVM-based blockchains like BSC, Polygon. The general direction for these improvements is what we call Ethereum Equivalence, which was introduced with Klaytn 2.0. 

*Attention!!

The only inconvenience regarding Ethereum compatibility is that you have to set the gas price as fixed for MetaMask. This is caused by Klaytn’s fixed gas price, so it will be resolved with the introduction of the dynamic gas price model (estimated for July).

2. Ecosystem-based service

Wallets and block explorers services that are required for blockchain services to function. These constitute the basic infrastructure that enhances the stability of the blockchain service as well as developer experience. The Klaytn Team strives to diversify and expand these services in the Klaytn ecosystem.

We are going to diversify the existing services wallets, block explorers, and bridges to give users a wider range of choices as well as to disperse traffic, which leads to more stability. Oracle, random number generators and governance will help DeFi or NFT projects to develop on Klaytn safer and faster. There are more infrastructure services coming up, and they will also be available as open source.

Estimated launch schedule for infrastructure services

3. Decentralization 

The name of our blockchain “Klaytn” symbolizes a stone-like robust platform where developers can be fully creative in building their services, just like handling Clay. So we have put network performance as our top priority from the beginning. Accordingly, during the initial phase of developing Klaytn mainnet, we focused on performance to enable mobile services. We would concentrate on the performance-related elements like fast throughput, scalability, and TPS and then move on to achieve decentralization.

In order to achieve decentralization while maintaining the 1-second finality and high performance, we have to do endless research and development. For the year 2022, the Klaytn Team aims to first strengthen governance transparency, and subsequently improve decentralization for the governance and consensus nodes, coupled with the progress of policy and technology.

Currently, we are working on transferring Klaytn’s on-chain governance and reward structure to smart contract based systems. With this change, we expect more transparency for the governance voting and reward distribution. Contract-based systems can also evolve to allow the participation of ecosystem members, not only node operators.

The direction for Klaytn’s decentralization is explained in Klaytn 2.0’s governance decentralization. For an incremental decentralization, transparency of governance will be the priority. The new smart contract-based governance and reward systems will become the technological foundation for Klaytn’s ecosystem members to participate.

The Klaytn Team is working day and night to let more participants join and enjoy our ecosystem. Thank you for your continued support for Klaytn. Thank you!


Hello, this is Klaytn Team!

Recently, there has been a lot of false information circulating regarding Klaytn’s technology and the mainnet’s stability, so we would like to take this opportunity to set the record straight. This article does not intend to deny the inconvenience experienced by users, but rather to clarify the core causes of the issue, and to help users decide for themselves whether technological improvements for Klaytn and the Klaytn ecosystem would be possible.

Q. Klaytn network fails frequently due to stability issues?
In the 3 years of Klaytn’s existence, there have been 2 cases when the Klaytn mainnet actually experienced an outage. The causes as well as the patch for the network delay have been explained at depth immediately after the measures.

These incidents are not uncommon even for other promising projects. According to an article by Coin Telegraph from May 2nd, there have been seven such incidents just this year alone. Nevertheless, there isn’t much criticism that it “stops often” as there is of Klaytn. So the comments from our communities that Klaytn “stops often” must not simply refer to these two incidents. We will get back to this after explaining the extended network delay.

Q. There have been times when blocks have not been created for an extended period of time. Is it due to a fault in the consensus mechanism?
The extended block creation delay is actually proof that Klaytn’s consensus mechanism works in a stable manner. A transaction bug was identified, and it did not go unnoticed by the consensus algorithm, which then put block creation and processing on hold.

Q. What do you mean that the consensus mechanism worked as expected when the block creation stopped?
The mainnet was designed to halt block creation upon detecting a bug due to its distinct philosophy. Klaytn’s consensus mechanism is based on a philosophy that is architecturally different from Bitcoin or Ethereum. Bitcoin or Ethereum can continue to process transactions even with incidents, but a transaction already processed may get reverted. On the other hand, Klaytn waits for the incident to be resolved. Transactions will not get reverted.

For example, an EVM bug found last year on Ethereum creates a fork, but Klaytn stops the creation of blocks altogether rather than skipping over the problematic block or allowing a fork to happen. When a fork happens in the presence of a bug, the receipt of a coin or the processing of a contract may be reverted. To alleviate this problem, you can wait for multiple blocks to be validated, but not reverting already processed transactions is the approach that emphasizes stability more.

The aforementioned architecture of Klaytn also guarantees quick processing of transactions with 1-second finality, which enables excellent usability. Unlike other coins that need to wait for additional blocks to be created when withdrawing from exchanges, Klaytn works immediately. When blockchain technology is more integrated into our daily lives, this instant finality and usability will prove themselves to be even more valuable.

Q. Why do people say that Klaytn “stops often”?
1) During network congestions, there could be delays due to the clogging of transactions waiting to be processed, or 2) the ecosystem services are not handling the overload well, which leads the ecosystem participants and users to think that the network stopped. Without accurate knowledge of the cause, communities have been speaking of “Klaytn’s network failure” which led to these misunderstandings, but the Klaytn mainnet did not stop. And these services have regained stability through increased throughput and a massive expansion of resources.

We recall that these incidents happened frequently from the end of 2021 till early 2022, causing users inconvenience. At the time, the transactions in the network have increased to more than what it can process, or the usage of a certain service exploded temporarily following the events below.

1) Incessant deployment of a large amount of transactions for arbitrage
As we explained in the Klaytn’s Network Status, more transactions than what can be processed in a given amount of time were being created, and with high frequency. If there are more transactions than what the network can process, users may experience some delay until their transactions are handled. It may have been different from the 1-3 second which the users were used to. And due to the large number of transactions, the internal processing for Klaytnscope the block explorer was also being delayed, giving users the impression that no more blocks are being created.

2) NFT airdrops in the rapidly growing NFT ecosystem
Early 2022, Klaytn had a lot of NFT projects with airdrops. Most NFT airdrops used Kaikas, and during the actual mintings the usage of Kaikas skyrocketed within a short amount of time. Since the Kaikas Team is not aware of the airdrop schedules for each team nor the size, it was difficult to respond flexibly.

As explained in the Klaytn’s Network Status published shortly afterwards, what users thought of as “stopping often” is not attributable to the stability of Klaytn’s network, but rather services not being able to handle the sudden increase in transactions. Klaytnscope and Kaikas later recovered through throughput improvement and resource expansion. At the same time, we also felt the need for improvements in Klaytn’s policies for not being able to prevent the occurrence of the bursts in transactions.

Q. What had to be improved in Klaytn’s transaction policies?
We saw the need to improve the way that the transactions were being processed:
1. Transaction ordering
2. Gas fee policy

For transactions that attempt arbitrage, the most important thing is to be included in the blocks as quickly as possible. In Klaytn, we used to include the transactions in a block in a random way without providing a logic for determining a priority. This led some arbitrageurs to send a large amount of transactions to increase the likelihood of their transactions being selected to be included in the block. Arbitrages constitute an important part of a DeFi ecosystem, but sending too many transactions can cause inconvenience for other users, because their transactions will be delayed.

After communicating with our communities, the Klaytn Team has come up with two ways for improvement. The first is to get rid of the cause that leads arbitrageurs to send out excessive amounts of transactions. Specifically, we decided to introduce the First-Come, First-Serve mechanism, whereby the transactions that arrived first would be processed first, which disincentivizes the arbitrageurs to create too many transactions. The second is to financially impose a burden when the transaction bursts happen for whatever reason, raising the cost for such behavior. To this end, Klaytn plans to introduce a dynamic gas fee, instead of the current fixed model.

Q. What is the background of the gas price increase?
Here is the timeline of events leading up to the gas price increase.

The surge in transactions at the time was not an organic outcome in the course of the growth of the Klaytn ecosystem, and thus it has led to many unwanted side effects. We think that the biggest cause of the phenomenon is that the cost for monopolizing or freezing the network was so low. This is something that can be abused by malicious actors to attack DeFi services. Furthermore, there were also cases where some services couldn’t keep up with Klaytn’s high throughput. For block explorers or exchanges, their internal system must be able to check all the transactions, for which they weren’t ready. From node operation perspective, the required resources have increased along with blockchain data. And these problems have been misleadingly simplified as “Klaytn stops often”, which harms the credibility of the network’s stability.

Q. What is going to happen with the gas price policy moving forward?
May 12: Baobab Gas Price Adjusted to 250 ston

*The schedule for dynamic gas price policy may be adjusted according to the development progress.

Gas price was first introduced as a measure to prevent network stoppage, and many blockchains alleviate excessive transactions using gas fees. Especially, Klaytn uses a fixed gas price, which called for a steeper increase in the gas fee. The Klaytn Team therefore aimed to solve network issues by raising the gas price in the short-run, and consider introducing a dynamic gas price in the long-run. Fixed gas fee policy is easy to use for services and offers many advantages including convenient price calculation. Since there are more services on the Klaytn network, it would have to evolve in a way that it can withstand network monopolies or stoppages.

The decision to increase the gas price was a process that involved a great deal of communication with the communities, but the effectiveness left a lot to be desired. As expected, it did stop excessive transactions from being sent, but it also had a dampening effect on the whole ecosystem. That is why the Klaytn Team saw it necessary to implement a dynamic fee policy to stabilize the network and minimize gas price burden.

With the Klaytn v1.8.3 upgrade, the transaction processing mechanism will be improved, after which the gas price will be cut back to 250 ston, because the incentive to create excessive transactions has been eliminated to a certain extent. Afterwards, we will introduce a dynamic gas price as a more fundamental solution. In most cases, the gas price will remain low, and when the network is using a lot of gas, the gas price will be adjusted to a higher level accordingly. For more details, please refer to the Klaytn Forum and KIP and feel free to share your thoughts.

Here’s an update on the change in our Pilot POC program. The Klaytn Foundation selected Kokoa Finance and Klaybank for Pilot POC program at the end of March and decided to provide additional rewards in proportion to the increase in TVL. 

To give KLAY depositors greater and more intuitive compensation, we decided to give POC rewards in proportion to the total amount of TVL, not TVL increase, and notified this to each project team. We will closely monitor the market response and continue to ensure trust in the Defi projects of the Klaytn ecosystem.

Details of the changes will be announced by each project team, and the Klaytn Foundation will make a continuous effort to provide substantial rewards to the teams and users who contribute to the expansion of the Klaytn ecosystem.

We’re excited to announce that KLAY will be available for trading on Huobi Global from 18 May! (but you can start depositing your KLAY from today)

One of the leading digital asset trading platforms in the world, Huobi Global supports a total of more than 500 digital assets and 10 million users on their platform. Over the years, Huobi Global has developed a comprehensive suite of tools and features which allows users to trade, manage, borrow and earn yields on a wide variety of crypto assets, through an extensive range of trading options. 

With the addition of KLAY, investors will gain access to the rapidly expanding Klaytn metaverse.

Ready to get in on the action? Find out more at https://www.huobi.com/ 


About Huobi Global
Huobi Global is a world-leading virtual asset financial services group. In 2013, the founding team foresaw the great potential of the blockchain industry to revolutionize the future of the global financial system. Very quickly, they founded Huobi.com with a mission to both make the financial industry more efficient, and to make wealth more accessible to everyone. The Huobi team is dedicated to providing safe, professional, trustworthy, and world class services to its global clients in an effort to create a client first culture. Huobi Global has planted offices in Singapore, the United States, Japan, Korea, Hong Kong, and is prevalent in over 130 countries across the globe.

Greetings from Klaytn Team!

The Klaytn team has been working hard at all fronts to realize the vision for Klaytn 2.0 and it’s goals for becoming “The Metaverse Blockchain for All”. In this post, we will share the 2022 roadmap for Klaytn’s technology development. The roadmap serves as a plan for Klaytn’s tech team and is subject to change in accordance with the external and internal factors but is intended to be used as our progress map. Nevertheless, in the spirit of transparency, we are sharing with youall of the interesting and exciting details of our upcoming technology roadmap.

2022 Q1 Roadmap

2022 Q2 Roadmap

2022 Q3 Roadmap

2022 Q4 Roadmap

The following table is a summary of the 2022 Quarterly Tech Roadmap.

Moving forward, we will be sharing at the end of each quarter a review and plans for the following quarter. We are thankful for each and every one of you that stood by us and showed love for the Klaytn ecosystem. We will be communicating with you more often in the future. Thank you!

The first scheduled burning of the net difference in gas fees that was implemented with v1.8.0 has been completed.

A total of 1,200,121 KLAY were burned for the period of 1 April to 30 April, calculated from blocks 87091200 to 89474270.

The burn transaction can be viewed here.

This month, we’ve got incubations, a hackathon, investments, listings, and more! Here’s a quick take of our top highlights and latest happenings.

Highlights from this month

New integrations and listings

Want Klaytn’s latest news delivered straight to your inbox? Subscribe to our mailing list now!

KLAY continues its global expansion with yet another listing — this time on Bitazza Global! Originating from Thailand, Bitazza is one of the fastest-growing digital asset platforms with more than 600,000 users to date and a monthly trading volume of over $600 million.

Bitazza offers a robust suite of real-world crypto usage features that are currently being used, including API payment integration, in-app crypto payments, and a white-label wallet solution that has been successfully used to support large music festivals and more. Bitazza also has plans to establish a crypto-based eCommerce platform and will soon offer users crypto payment cards to further drive crypto usage in everyday life.

KLAY’s listing on Bitazza will bring greater access and liquidity, further opening up the Klaytn metaverse to more participants around the world. As part of Klaytn’s global expansion roadmap, the Klaytn Foundation will continue to work with major exchanges to bring easy access to KLAY to the world.


About Bitazza

Bitazza was founded by a team of experts in fields ranging from finance, technology, creative development, and more who share a singular vision in digital asset growth and adoption. Bitazza’s vision is to integrate digital assets, investment banking, and blockchain-based cashless payments together seamlessly.