KAIA

Klaytn was developed and launched in June 2019 by GroundX, the blockchain subsidiary of Korea's largest mobile platform, Kakao. After two years of success in Korea, the Klaytn Foundation, a non-profit entity, was established to accelerate Klaytn's global expansion and ecosystem maturity. The Klaytn Foundation is responsible for managing the Klaytn Growth Fund and operating alongside Krust, a subsidiary of internet giant Kakao Corp that invests in projects built on Klaytn. The foundation is focused on driving global adoption and ecosystem growth for the Klaytn network.

At the core of Klaytn's decentralization model is its Governance Council (GC), comprising leading global enterprises and DAOs across various industries. These GC members form a compact validator network that can deliver the benefits of a decentralized public blockchain while maintaining high performance. The Klaytn Governance Council is responsible for key decisions regarding the Klaytn network, such as approving protocol upgrades, setting economic policies, and overseeing the Klaytn Growth Fund. The council members also participate in the consensus process, validating transactions and adding new blocks to the Klaytn blockchain. The diverse and reputable nature of the Klaytn Governance Council members is designed to ensure the network's neutrality, security, and reliability, making Klaytn a trusted platform for large-scale applications and enterprise use cases.

Klaytn offers several unique features that set it apart from other blockchain platforms: 1-second deterministic finality: Klaytn utilizes an optimized version of Istanbul BFT (IBFT) consensus algorithm that enables transactions to achieve absolute finality within a second, allowing for responsive user experiences and enabling use cases that require near-instant and irreversible finality. Guaranteed data integrity: Unlike Proof-of-Work and Proof-of-Stake blockchains which exhibit probabilistic finality, Klaytn's IBFT consensus algorithm guarantees that data recorded on the blockchain is correct and will never be reversed, providing the reliability and data consistency needed for large-scale applications. Ethereum equivalence: Klaytn supports the Ethereum Virtual Machine (EVM) and has adopted the EVM specification, making it compatible with the Ethereum ecosystem and enabling the use of existing Ethereum clients, libraries, and Ethereum Improvement Proposals (EIPs) and Klaytn Improvement Proposals (KIPs). Unique governance structure: At the core of Klaytn's decentralization model is its Governance Council (GC), comprising leading global enterprises and DAOs across industries. These GC members form a compact validator network that can deliver the benefits of a decentralized public blockchain while maintaining performance.