Klay - The Main Inner Cryptocurrency of the Klaytn Blockchain Project. The Coin Is Used to Pay Commissions for Transactions When Creating or Executing Smart Contracts or When Transmitting Klay to Other Users.
Klay Is One of the Main and Necessary for Maintaining the Health Ecosystem of Distributed Applications Klaytn. This Payment Mechanism Carried Out by The Clients of the CONSENSUS NODES (CN) Performing the Requested Operations. In Oter Words, Klay Is A Crypto-Economic Incentive; He Guarantees That The Developers Write High-Quality Applications (Non-Working Code in The Future Always Costs Expensive) And That The Network Remains Operational (CN and RN Receive Compensation for the Resources They Contribute).
How Much Klay Is In Circulation?
Klaytn Launched Its Main Network 27.06.2019 WITH A Total Emission of 10 Billion Klay Tokens Created in Genesis, and Additional Klay Will Be Released Through The Subsequent Creation Of New Blocks. During The First Year After Starting The Main Network, The Inflation Rate Will Be Maintained At About 3% Per Year, Which Means About 9.6 NEW KLAY WILL BE Released for Each New Block. By Default, The Inflation Rate Will Reflects Klaytn's Economic Growth, And While The Project Founders Aim for Lower Value Will Be Determined by Governance Structures.
For Each Block, The Block Reward (The Total Amount of Issued Klay and Transaction Fees Incurred During Block Creation) Will Be Distributed As Followows (Specific Percentages and Categories Are Subect to Change - Current Percentages and Categories Reflectod Prosected Values for the Initial Phase After The Main Network. Launch): One. MAJOR MOBILE OPERATOR REWARD: 34% 2. PROF OF CONTRIBUTION: 54% 3.KLAYTN UPGRADE RESERVE: 12%
Klay Coin Is Available on Many Cryptocurrency Exchanges and Decentralized Cryptocurrency Exchangers.