Klaytn divides target customers into three parts. 1) Ordinary users, 2) Service providers, 3) Enterprise. Klaytn’s Value Proposition that is provided to them is Hassle-Free and Hybrid Blockchain Optimized for Services and Enterprises. It is easy for ordinary users to use and, it provides the optimized blockchain environment to service and enterprises.
Exceeding the crypto users that have the experience of blockchain and cryptocurrency, Klaytn focuses on ordinary users. Blockchain itself does not give value to users but gives value through applications, so blockchain technology should not be seen to the final user. However, blockchain user experience now has a high entry barrier for ordinary people to access.
Klaytn does its best to provide a blockchain environment that is easy for ordinary people to approach. This is not just the kind of work that is solvable at the platform itself, but tools around it (wallet, currency exchange, Appstore, etc.) need to try hard to provide a new environment that fits the eye level of ordinary users. Klaytn will lead them and cooperate with them and provide the end users the first blockchain experience.
Klaytn supports to make a new business innovation by providing an optimized environment for the success of BApp. We believe that blockchain can make destructive innovations as a smartphone made new business and society through mobile revolution. What is an optimized service environment? It needs to at least provide the environment like present mobile applications. But blockchain has many limitations yet. Typically, the service response time is late. Due to blockchain characters, it needs to be done with many participating nodes’ consent. Klaytn has realized the block generation time with the finality of 1 second for the fast response time as in mobile applications. At the same time, it has reached the high performance of 4,000 TPS (Transaction Per Second). This performance is planned to increase continuously.
Now blockchain is locked in a limited pool of users that are crypto users. The channel for the influx of new users, especially ordinary users is in shortage. That is why most blockchain services DAU(Daily Active User) do not exceed the level of thousands. Klaytn tries to secure various user acquisition channels. Especially, it draws the participation of enterprises that possess the user base and invites their user base to Klaytn through the application of blockchain to preexisting mobile services. This provides the base for the appearance of BApp that has millions of DAU.
We provide an optimized environment to the enterprise that leads the enterprise’s internal/external innovation and makes new business opportunities through blockchain. The environment that they can easily access and make use of blockchain’s advantages is needed. There are some things different of enterprise requirement from requirements of ordinary BApp. Klaytn provides three features specialized in enterprise requirements.
We provide own L2 Solution(Sidechain) called Service Chain for an enterprise that avoids the use of public blockchain due to data privacy. Therefore, enterprises can constitute their own blockchain. At the same time, through linkage with Klaytn mainnet, we provide a hybrid blockchain function that provides some level of trust although it is private blockchain.
It is common to integrate the preexisting system when an enterprise applies blockchain. Therefore, the preexisting programs and the smart contracts in the blockchain have to collaborate and the data also has to be stored across preexisting systems and blockchain. So, it is a necessary task for an enterprise to integrate two systems seamlessly. Klaytn provides an easy integration solution through EP that does not require much blockchain knowledge.
Trusted Entities, that is, mainly global listed enterprises, operate Klaytn node. They also belong to Klaytn Governance Council (KGC) and participate in decision making for the development of Klaytn. They are mostly enterprises that manage the business of hundreds of thousands to billions of dollars, so reputation is very important. Therefore, the possibility of doing something malicious while enduring reputation risk is very low. All KGC have lots of interest in blockchain business so they are partners to cooperate with for commercializing based on Klaytn other than node government and governance.