Klever recently launched its mainnet layer 1, KleverChain, and a governance token, KFI on July 1, 2022. The company also released its official whitepaper to give an overview of upcoming features and functionalities within the blockchain.
As the crypto storm continues to drown the prices, KleverChain emerges as a new blockchain solution for developers and users. With a mission of making blockchain simple and easy inspired by Bitcoin as an “ideal base layer.”
Before launching its own blockchain, Klever Finance proved to be a strong platform on the Tron network. Now Klever is building its own ecosystem which will link all Klever’s products to the same network.
Klever sees the blockchain network as a blossoming tree with its layers as branches that grow fruit and leaves in form of dApps and other decentralized products. The company hopes to become a healthy tree that empowers its developers to build whatever they want to without falling into complications.
KleverChain technology
According to the official whitepaper, KleverChain technology provides pre-built and ready-to-use functionalities instead of a smart contract to make the process simple and easy.
“Klever has a completely different approach and instead builds the Klever Blockchain with smart contracts coded into the blockchain itself. It is inspired by what Satoshi Nakamoto did with Bitcoin: code once and the Klever contract or Kapp as we call it will be there forever for anyone to use,” says Dio Ianakiara, Co-Founder & CEO of Klever.
Klever is a permissionless network offering high-performance with 3000 transactions per second, cost-efficiency, and a consensus-focused governance cycle for its users.
The technology is also built as a multichain to bridge with other networks such as Bitcoin, Ethereum, BNB Chain, Tron, and many more.
Klever governance community
KleverChain follows the proof-of-stake consensus mechanism composed of 21 randomly selected validators among mastercodes for the Consensus Group in each epoch.
KFI is the latest launch with KleverChain that works as a governance token for the community. Klever has an on-chain voting system and KFI holders can use the tokens to make decisions for the protocol configuration.
KleverChain has added a customized version of the Practical Byzantine Fault Tolerance (PBFT) algorithm, which means before the blockchain adds a block, the data and information inside the blockchain should be approved by 70% of validators. This can ensure the safety of blockchain across various transactions.
Unlike other networks, Klever aims to become a secure network with equal opportunities for individuals to become a developer, validator, creator, or a user. Anyone with a minimum amount of 10M KLV in total self-staking and delegation can become a validator or masternode in Klever’s governance community.
Klever as an ecosystem
Klever isn’t just a blockchain network, it’s a proper ecosystem. KleverChain will connect Klever’s all products such as Klever Wallet, Klever Exchange, and KleverNFT. By making KFI its native token, users will be able to buy and sell various items within the ecosystem.
Klever is a more advanced ecosystem having two types of tokens for trade. Based on the whitepaper, KLV or Klever Coin is the main utility token of the Klever blockchain which is used for all transaction fees, minting, validator staking, and other transfers on KleverChain.
Since Klever works as an ecosystem, the applications built on KleverChain will contribute to bringing value to KLV into liquidity pools, and rewards are distributed to the KFI governance community.
Everything within the ecosystem is completely interconnected making it more solid, scalable, and scalable.
KleverChain mainnet phases
Klever also announced five phases of KleverChain with new features that will take place in the coming months. Some of the features include:
- KLV SWAP bridge live on the Klever Wallet
- KLV trading pairs,
- Klever Web Extension
- Klever Foundation & KLV reserves will be moved from Tron to KleverChain
- New on-chain Klever NFT platform launch
- KLV (Mainnet) listing on Klever Exchange
And many more. For a detailed explanation of each phase, see the official announcement posted by Klever here.
KleverChain – Short Story
Future of KleverChain
KleverChain is a new chapter of the Klever ecosystem that will open up doors to more opportunities for developers and creators. Klever aims to add as many Kapps as it can on an international scale.
By providing one-click solutions to developers, KleverChain aims to pioneer in revolutionizing the blockchain industry as a whole. KleverChain is dedicated to leading modern technologies and the decentralized world to another level.
For more information on KleverChain, read the whitepaper.
Website: klever.finance/kleverchain
Twitter: @klever_io
