KLAY

1. Project introduction

Klaytn is a highly optimized, BFT-based public blockchain that aims to meet the enterprise-grade reliability. Key design goals are:

(1) Immediate finality.

(2) High TPS that meets real-world use cases.

(3) Lower the cost of running Blockchain Applications.

(4) Lower the barriers to entry for end-users.

(5) Ease the technology adoption process for industry.

Klaytn can be partitioned into three logical subnetworks based on their roles and purposes.

(1) 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.

(2) 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.

(3) 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.

2. Application

KLAY is the main internal transferable cryptocurrency of Klaytn and is used to pay transaction fees when creating or executing smart contracts or when transferring KLAY.