Injective has integrated Klaytn, marking a historic moment for the entire Web3 industry. This integration will allow native assets from both Klaytn and Injective to be seamlessly utilized for various cross-chain initiatives, creating a far more composable ecosystem for these two communities.
With this new connection, assets such as KLAY and INJ can now be transferred and used across dApps built on either network. In turn this can help to create more use cases and utility for both blockchains moving forward.
What is Klaytn?
Klaytn is a public blockchain developed by leading South Korean internet company, Kakao. Currently, the Kakao superapp boasts over 50 million users which comprises nearly the entire population of Korea—giving virtually every South Korean access to Klip, the app’s embedded Klaytn wallet.
Klaytn utilizes an optimized version of the BFT consensus algorithm to deliver near-instant transaction confirmation, with 1-second block time and immediate, absolute finality. Coupled with low gas fees and native support for features such as account abstraction and gas fee delegation, Klaytn delivers a seamless Web2-like blockchain experience for end-users.
What does this integration bring to Injective?
This integration represents a significant milestone for Injective and the larger expansion of the IBC network. By integrating with Klaytn, Injective strengthens its position as the fastest L1 in the industry today and reinforces itself as a vital player in the broader blockchain ecosystem. This integration also further cements Injective’s value proposition in being one of the most interoperable networks in the industry by enabling access to prominent Layer 1 blockchains, bridging communities, and unlocking new avenues for development.
The Future of Klaytn and Injective
The integration of Klaytn into Injective is another avenue that brings more users into the Injective ecosystem. As Klaytn and Injective embrace this integration, they set a powerful example of how blockchain networks can work together to unlock new opportunities and accelerate the adoption of decentralized technologies.
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow’s on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none. Since its launch in June 2019, Klaytn has been accelerating blockchain mass adoption through a broad array of use cases from DeFi to real-world assets, entertainment and gaming, and even the Bank of Korea’s CBDC pilot project. Today, it is one of the only globally competitive Web 3.0 ecosystems developed in South Korea, generating more than 1 billion transactions from over 300 decentralized applications.
Website | Telegram | Discord | Twitter | Facebook | LinkedIn