What is KLAY?
Klaytn is a public blockchain developed by the Korean company Kakao. The global blockchain aims to bring a user-friendly, service-centric experience to millions of users. Klatyn is governed by a council of builders and service providers who contribute towards the protocol’s development. Klaytn aims to reward not only users who participate in their proof of stake network, but users who contribute to the Klaytn ecosystem in other ways. To facilitate a more diverse rewards system, Klaytn employs a “proof of contribution” system, where a percentage of rewards, denominated in Klaytn’s native token (KLAY) are distributed to service providers and end users, in addition to those who stake their KLAY.