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South Korean Layer-1 blockchain Klaytn: Rebranding from KLAY to Kaia and its Ecosystem Outlook
Klaytn is an enterprise-grade Layer-1 blockchain launched by Ground X, a subsidiary of South Korean company Kakao, aiming to drive the mass adoption of blockchain technology. Its native token, KLAY, was previously used for network fees and governance. In early 2024, Klaytn and LINE's Finschia Foundation announced a merger to jointly create a new Kaia mainnet and native token, KAIA. This initiative aims to integrate the strengths of both ecosystems, leverage the vast user bases of Kakao and LINE, and establish Asia's leading Web3 ecosystem. The KLAY token is progressively being converted to KAIA.
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South Korean Layer-1 blockchain Klaytn: Rebranding from KLAY to Kaia and its Ecosystem Outlook
Klaytn is an enterprise-grade Layer-1 blockchain launched by Ground X, a subsidiary of South Korean company Kakao, aiming to drive the mass adoption of blockchain technology. Its native token, KLAY, was previously used for network fees and governance. In early 2024, Klaytn and LINE's Finschia Foundation announced a merger to jointly create a new Kaia mainnet and native token, KAIA. This initiative aims to integrate the strengths of both ecosystems, leverage the vast user bases of Kakao and LINE, and establish Asia's leading Web3 ecosystem. The KLAY token is progressively being converted to KAIA.
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