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Injective Integrates Korea’s Leading Layer 1 Klaytn to Massively Scale Cross-Chain Interoperability
In a momentous development for the Web3 industry, #Injective has successfully integrated #Klaytn , a leading Layer 1 blockchain platform from South Korea. This groundbreaking integration is set to reshape the landscape of cross-chain interoperability, offering a significant leap forward for both communities involved.
Seamless Cross-Chain Utilization
The integration of Klaytn and Injective marks a historic step towards enhancing cross-chain functionality. Native assets from both ecosystems can now be effortlessly utilized across a wide spectrum of cross-chain initiatives. This newfound synergy is poised to create a more composable and versatile ecosystem, bringing added value to both Klaytn and Injective communities.
With this connection, assets such as #KLAY and #INJ gain the ability to seamlessly move and participate in decentralized applications (dApps) built on either network. This expansion of utility is expected to unlock a multitude of use cases, propelling the adoption and utility of both blockchains to new heights.
Unveiling Klaytn: A Snapshot
Klaytn is a public blockchain developed by the esteemed South Korean internet giant, Kakao. Notably, the Kakao superapp boasts an impressive user base of over 50 million individuals, effectively encompassing nearly the entire population of South Korea. This wide-reaching accessibility introduces users to Klip, the app's integrated Klaytn wallet, making KLAY tokens and blockchain functionalities readily available to millions.
Klaytn distinguishes itself by employing an optimized version of the Byzantine Fault Tolerance (BFT) consensus algorithm. This results in near-instant transaction confirmations, boasting an impressive 1-second block time and immediate, absolute finality. Complementing these features are low gas fees and native support for advanced functionalities like account abstraction and gas fee delegation. As a result, Klaytn delivers a blockchain experience reminiscent of Web2 platforms, ensuring a seamless experience for end-users.
The Significance of Integration for Injective
The integration of Klaytn into Injective represents a momentous milestone in the journey of both platforms. For Injective, it solidifies its position as one of the fastest Layer 1 blockchains in the industry. Furthermore, this integration reinforces Injective's pivotal role within the broader blockchain ecosystem, positioning it as a key player in the realm of cross-chain interoperability.
Injective's value proposition as one of the most interoperable networks in the industry is underscored by this integration. It grants access to prominent Layer 1 blockchains and opens up new avenues for development and collaboration. The strengthening of the Inter-Blockchain Communication (IBC) network is an essential part of this process, promising enhanced connectivity between blockchain communities.
The Future of Klaytn and Injective
The integration of Klaytn into the Injective ecosystem represents a new frontier, attracting more users to both platforms. This collaboration serves as a compelling example of how blockchain networks can work in synergy to unlock fresh opportunities and expedite the widespread adoption of decentralized technologies.
As Klaytn and Injective continue to embrace this integration, they set the stage for a future where blockchain platforms collaborate, expand, and collectively shape the future of the decentralized landscape. This partnership not only benefits their respective communities but also contributes to the broader vision of a seamless and interconnected #blockchain ecosystem.
Seamless Cross-Chain Utilization
The integration of Klaytn and Injective marks a historic step towards enhancing cross-chain functionality. Native assets from both ecosystems can now be effortlessly utilized across a wide spectrum of cross-chain initiatives. This newfound synergy is poised to create a more composable and versatile ecosystem, bringing added value to both Klaytn and Injective communities.
With this connection, assets such as #KLAY and #INJ gain the ability to seamlessly move and participate in decentralized applications (dApps) built on either network. This expansion of utility is expected to unlock a multitude of use cases, propelling the adoption and utility of both blockchains to new heights.
Unveiling Klaytn: A Snapshot
Klaytn is a public blockchain developed by the esteemed South Korean internet giant, Kakao. Notably, the Kakao superapp boasts an impressive user base of over 50 million individuals, effectively encompassing nearly the entire population of South Korea. This wide-reaching accessibility introduces users to Klip, the app's integrated Klaytn wallet, making KLAY tokens and blockchain functionalities readily available to millions.
Klaytn distinguishes itself by employing an optimized version of the Byzantine Fault Tolerance (BFT) consensus algorithm. This results in near-instant transaction confirmations, boasting an impressive 1-second block time and immediate, absolute finality. Complementing these features are low gas fees and native support for advanced functionalities like account abstraction and gas fee delegation. As a result, Klaytn delivers a blockchain experience reminiscent of Web2 platforms, ensuring a seamless experience for end-users.
The Significance of Integration for Injective
The integration of Klaytn into Injective represents a momentous milestone in the journey of both platforms. For Injective, it solidifies its position as one of the fastest Layer 1 blockchains in the industry. Furthermore, this integration reinforces Injective's pivotal role within the broader blockchain ecosystem, positioning it as a key player in the realm of cross-chain interoperability.
Injective's value proposition as one of the most interoperable networks in the industry is underscored by this integration. It grants access to prominent Layer 1 blockchains and opens up new avenues for development and collaboration. The strengthening of the Inter-Blockchain Communication (IBC) network is an essential part of this process, promising enhanced connectivity between blockchain communities.
The Future of Klaytn and Injective
The integration of Klaytn into the Injective ecosystem represents a new frontier, attracting more users to both platforms. This collaboration serves as a compelling example of how blockchain networks can work in synergy to unlock fresh opportunities and expedite the widespread adoption of decentralized technologies.
As Klaytn and Injective continue to embrace this integration, they set the stage for a future where blockchain platforms collaborate, expand, and collectively shape the future of the decentralized landscape. This partnership not only benefits their respective communities but also contributes to the broader vision of a seamless and interconnected #blockchain ecosystem.
We're delighted to share the news of a captivating integration with #Kaikas , a non-custodial digital wallet from #Klaytn !
⚡️ Under this partnership, the #1inch Swap API will facilitate token swaps within Kaikas.
➡️ Learn more: https://blog.1inch.io/1inch-integrates-with-klaytns-kaikas-wallet/
#DeFi #Web3
⚡️ Under this partnership, the #1inch Swap API will facilitate token swaps within Kaikas.
➡️ Learn more: https://blog.1inch.io/1inch-integrates-with-klaytns-kaikas-wallet/
#DeFi #Web3
NerveNetwork finished Klaytn's cross-chain integration
We're happy to inform that Klaytn is now fully supported by #NerveNetwork .
For Klaytn projects to communicate with other blockchains, NerveNetwork will offer cross-chain support. And the #Nerve team is dedicated to expanding Klaytn's blockchain project portfolio in the future.
NerveNetwork now includes the #Klaytn cross-chain module. On Klaytn, the Nerve decentralised cross-chain smart contract is in use. Moreover, we have supported the dApps NerveBridge, NerveSwap, and NerveFarm in Klaytn.
NerveBridge
NerveBridge is the core product of NerveNetwork that has implemented crosschain for 27 blockchains, including: Ethereum/ Klaytn\s/ Base/ Ethereum Classic/ BNBChain/ Polygon/ Heco/ OKC/ Tron/ Avalanche/ Harmony/ KCC/ Cronos/ Arbitrum/ Fantom/ Metis/ Optimism/ IoTex/ smartBSH/ KAVA EVM/ REI Network/ EOS EVM/ Linea/ Polygon zkEVM/ CELO Network, and NULS. Since NerveNetwork's introduction, NerveBridge has let more than 200 tokens circulate on different blockchains.
https://bridge.nerve.network
SwapBox
Developed by Nabox Wallet, SwapBox is a multichain aggregator that collects liquidity from a variety of decentralised exchanges, including NerveSwap. Users will be able to swap/crosschain-swap numerous assets between chains using SwapBox.
https://swapbox.nabox.io/swap
NerveSwap
Due to its multichain friendliness feature, NerveSwap, a DEX developed on the NerveNetwork mainnet, enables the trading of various assets from several blockchains with incredibly cheap transaction costs.
https://nerve.network/swap
NerveFarm
With the help of the Yield farming protocol NerveFarm, NerveSwap liquidity holders can engage in farming. On NerveFarm, any toekns based in Klaytn may construct a farm.
https://nerve.network/farm
The Layer 1 blockchain platform Klaytn offers quick finality, high TPS, and low latency. It is the ideal blockchain for implementing the metaverse and creating games. With the support of Ethereum Equivalence and the full Metaverse Package to ease the experience of establishing a blockchain, Klaytn 2.0 signals Klaytn's switch to a concentration on the metaverse.
About NerveNetwork
By establishing a cross-chain asset trading network and tying together all disconnected blockchains, NerveNetwork seeks to give the DeFi ecosystem all the underlying support it needs. Let each owner of a digital asset benefit from a DeFi service that is genuinely safe, free, and open.
For Klaytn projects to communicate with other blockchains, NerveNetwork will offer cross-chain support. And the #Nerve team is dedicated to expanding Klaytn's blockchain project portfolio in the future.
NerveNetwork now includes the #Klaytn cross-chain module. On Klaytn, the Nerve decentralised cross-chain smart contract is in use. Moreover, we have supported the dApps NerveBridge, NerveSwap, and NerveFarm in Klaytn.
NerveBridge
NerveBridge is the core product of NerveNetwork that has implemented crosschain for 27 blockchains, including: Ethereum/ Klaytn\s/ Base/ Ethereum Classic/ BNBChain/ Polygon/ Heco/ OKC/ Tron/ Avalanche/ Harmony/ KCC/ Cronos/ Arbitrum/ Fantom/ Metis/ Optimism/ IoTex/ smartBSH/ KAVA EVM/ REI Network/ EOS EVM/ Linea/ Polygon zkEVM/ CELO Network, and NULS. Since NerveNetwork's introduction, NerveBridge has let more than 200 tokens circulate on different blockchains.
https://bridge.nerve.network
SwapBox
Developed by Nabox Wallet, SwapBox is a multichain aggregator that collects liquidity from a variety of decentralised exchanges, including NerveSwap. Users will be able to swap/crosschain-swap numerous assets between chains using SwapBox.
https://swapbox.nabox.io/swap
NerveSwap
Due to its multichain friendliness feature, NerveSwap, a DEX developed on the NerveNetwork mainnet, enables the trading of various assets from several blockchains with incredibly cheap transaction costs.
https://nerve.network/swap
NerveFarm
With the help of the Yield farming protocol NerveFarm, NerveSwap liquidity holders can engage in farming. On NerveFarm, any toekns based in Klaytn may construct a farm.
https://nerve.network/farm
The Layer 1 blockchain platform Klaytn offers quick finality, high TPS, and low latency. It is the ideal blockchain for implementing the metaverse and creating games. With the support of Ethereum Equivalence and the full Metaverse Package to ease the experience of establishing a blockchain, Klaytn 2.0 signals Klaytn's switch to a concentration on the metaverse.
About NerveNetwork
By establishing a cross-chain asset trading network and tying together all disconnected blockchains, NerveNetwork seeks to give the DeFi ecosystem all the underlying support it needs. Let each owner of a digital asset benefit from a DeFi service that is genuinely safe, free, and open.
"Klaytn successfully burns 50% of total KLAY distribution and 70% of uncirculated volume through KIP-103 proposal activation. Additionally, treasury rebalancing executed on the 17th. #Klaytn #KLAY #cryptocurrency ".
Klaytn Foundation plans to update KLAY tokenomics and governance models, enabling public participation as block validators and transitioning to a fully permissionless validator structure on its blockchain. #Klaytn #Klay #BlockChain #tokenomics #cryptocurrency
#Klaytn Launches Metaverse Knowledge Kit to Help Developers and Enterprises Build Seamless Metaverse Applications.
#Metaverse #dyor #crypto101
#Metaverse #dyor #crypto101
📢 3 Kingdom Multiverse (3KM), a Klaytn (KLAY)-based multi-game platform, announces the discontinuation of its 3KM staking service due to lockup-related issues, with assets only recoverable until the 20th. As of CoinMarketCap data, 3KM is currently trading at $0.002327, reflecting a 1.25% decrease. 🎮📉 #3KM #CryptoNews🔒📰🚫 #Klaytn
Upbit has revealed that it will temporarily halt deposits and withdrawals of Klaytn-affiliated digital assets starting at 18:00 on October 15 due to an upcoming Klaytn network hard fork. The affected digital assets include BORA, SSX, and OBSR. 🔄💼 #Upbit #Klaytn #HardFork #Cryptocurrency #DigitalAssets
#SafePal is partnering with #Klaytn network to serve #crypto users in #korea better! Read more about the partnership on #Cointelegraph here:
https://cointelegraph.com/press-releases/safepal-partners-with-klaytn-network-to-globalize-adoption-of-web3-and-defi
https://cointelegraph.com/press-releases/safepal-partners-with-klaytn-network-to-globalize-adoption-of-web3-and-defi
📢#TwitterSpace AMA with #SafePal CEO & Co-Founder ,Veronica Wong & #Klaytn Head of Marketing, John Cho
Learn what SafePal & Klaytn are doing to onboard users safely & seamlessly into #Web3 & #DeFi
⏰May 19th 09:00 AM UTC
📌Set a reminder: https://twitter.com/i/spaces/1yoJMZEEAVpxQ
🎁Tune in & claim your special #W3ST token: https://link3.to/e/OmCFbh
Learn what SafePal & Klaytn are doing to onboard users safely & seamlessly into #Web3 & #DeFi
⏰May 19th 09:00 AM UTC
📌Set a reminder: https://twitter.com/i/spaces/1yoJMZEEAVpxQ
🎁Tune in & claim your special #W3ST token: https://link3.to/e/OmCFbh
As included in the collaboration, the integration of Klaytn into SafePal is focused on enabling compatibility for Klaytn’s local assets.
#Dapps #Ecosystem #Klaytn #KLAY #SFP
https://blockchainreporter.net/klaytn-joins-forces-with-safepal-to-offer-accessibility-to-10m-users/
#Dapps #Ecosystem #Klaytn #KLAY #SFP
https://blockchainreporter.net/klaytn-joins-forces-with-safepal-to-offer-accessibility-to-10m-users/
Top 5 projects with the highest NFT trading volume on #Klaytn in the last 7 days:
1. KlipDrops
2. Sunmiya Club
3. Puuvilla_society
4. SuperWalk
5. MARBLEX
📍 Chart from our Klaytn Ecosystem dashboard: https://m3talab.io/reports/klaytn-ecosystem
#BinanceSquareTalks #NFTMarketTrends
1. KlipDrops
2. Sunmiya Club
3. Puuvilla_society
4. SuperWalk
5. MARBLEX
📍 Chart from our Klaytn Ecosystem dashboard: https://m3talab.io/reports/klaytn-ecosystem
#BinanceSquareTalks #NFTMarketTrends
Quick dive into a 30x potential Korean-based #crypto project! Klaytn (KLAY) 🇰🇷 $KLAY
#Klaytn is a Korean-based public blockchain platform that is designed to be scalable, secure, and user-friendly. It is built on the Ethereum Virtual Machine (EVM), which makes it easy for Ethereum developers to build applications on Klaytn.
Why use Klaytn? 🧙♀️
1️⃣ Scalability: Klaytn can process thousands of transactions per second, making it ideal for applications that need to be able to handle a high volume of traffic.
2️⃣ Security: Klaytn uses a number of security features, such as Proof-of-Stake (PoS) and cryptography, to protect user assets.
3️⃣ 4️User-friendliness: Klaytn is designed to be easy to use, even for beginners. It has a simple and intuitive interface, and it offers a number of helpful features, such as a built-in wallet and a developer portal.
4️⃣ Fast and cheap transactions: Klaytn transactions are very fast and cheap. This makes it ideal for applications such as payments, DeFi, and NFTs.
5️⃣ Interoperability: Klaytn is compatible with the Ethereum Virtual Machine (EVM), which makes it easy for Ethereum developers to build applications on Klaytn.
6️⃣ A growing ecosystem: Klaytn has a growing ecosystem of developers and users.
Overall, Klaytn is still in its early stages of development, but it has the potential to be a major player in the crypto space.
#crypto2023 #cryptocurrency #korean
#Klaytn is a Korean-based public blockchain platform that is designed to be scalable, secure, and user-friendly. It is built on the Ethereum Virtual Machine (EVM), which makes it easy for Ethereum developers to build applications on Klaytn.
Why use Klaytn? 🧙♀️
1️⃣ Scalability: Klaytn can process thousands of transactions per second, making it ideal for applications that need to be able to handle a high volume of traffic.
2️⃣ Security: Klaytn uses a number of security features, such as Proof-of-Stake (PoS) and cryptography, to protect user assets.
3️⃣ 4️User-friendliness: Klaytn is designed to be easy to use, even for beginners. It has a simple and intuitive interface, and it offers a number of helpful features, such as a built-in wallet and a developer portal.
4️⃣ Fast and cheap transactions: Klaytn transactions are very fast and cheap. This makes it ideal for applications such as payments, DeFi, and NFTs.
5️⃣ Interoperability: Klaytn is compatible with the Ethereum Virtual Machine (EVM), which makes it easy for Ethereum developers to build applications on Klaytn.
6️⃣ A growing ecosystem: Klaytn has a growing ecosystem of developers and users.
Overall, Klaytn is still in its early stages of development, but it has the potential to be a major player in the crypto space.
#crypto2023 #cryptocurrency #korean
👉👉👉 South Korea’s crypto karaoke platform #Hacked for over $11.5 million
Somesing, a blockchain-based social karaoke platform in South Korea, experienced a security breach on Saturday resulting in the loss of 730 million of its native token SSX, equivalent to $11.58 million, as per the platform's official announcement.
The compromised amount includes 504 million undistributed SSX tokens intended for circulation by the end of 2025, along with 226 million SSX held by the Somesing foundation, already part of its existing circulation.
Somesing clarified that the hacking incident is unrelated to any member of the SOMESING team and is believed to be the work of professional hackers specializing in virtual asset breaches.
The platform promptly reported the incident to the National Police Agency and plans to involve Interpol in the investigation. To trace the attacker, Somesing is collaborating with the local #blockchain entity #Klaytn Foundation and Interpol partner firm Uppsala Security. The platform aims to freeze the assets and pursue legal action once the perpetrator is identified.
In response to Somesing's request, major South Korean crypto exchanges, including Upbit, Bithumb, and Coinone, have temporarily suspended deposit and withdrawal services for SSX. Users are cautioned about potential price volatility resulting from the security breach. While the token is also listed on HTX and Gate.io, they have not issued similar warnings.
Somesing, a Klaytn-based platform rewarding users for karaoke recordings, faced a security breach losing 730 million SSX tokens (equivalent to $11.58 million). Major South Korean exchanges temporarily halted SSX deposit and withdrawal services. Somesing, known for incentivizing users with tokens, is collaborating with authorities and blockchain entities to trace the attacker. While the incident raises cybersecurity concerns, data shows a 50% reduction in crypto hacks in 2023 compared to 2022. Despite inquiries, Somesing has not provided additional comments on the breach.
Source - theblock.co
#CryptoNews #BinanceSquare
Somesing, a blockchain-based social karaoke platform in South Korea, experienced a security breach on Saturday resulting in the loss of 730 million of its native token SSX, equivalent to $11.58 million, as per the platform's official announcement.
The compromised amount includes 504 million undistributed SSX tokens intended for circulation by the end of 2025, along with 226 million SSX held by the Somesing foundation, already part of its existing circulation.
Somesing clarified that the hacking incident is unrelated to any member of the SOMESING team and is believed to be the work of professional hackers specializing in virtual asset breaches.
The platform promptly reported the incident to the National Police Agency and plans to involve Interpol in the investigation. To trace the attacker, Somesing is collaborating with the local #blockchain entity #Klaytn Foundation and Interpol partner firm Uppsala Security. The platform aims to freeze the assets and pursue legal action once the perpetrator is identified.
In response to Somesing's request, major South Korean crypto exchanges, including Upbit, Bithumb, and Coinone, have temporarily suspended deposit and withdrawal services for SSX. Users are cautioned about potential price volatility resulting from the security breach. While the token is also listed on HTX and Gate.io, they have not issued similar warnings.
Somesing, a Klaytn-based platform rewarding users for karaoke recordings, faced a security breach losing 730 million SSX tokens (equivalent to $11.58 million). Major South Korean exchanges temporarily halted SSX deposit and withdrawal services. Somesing, known for incentivizing users with tokens, is collaborating with authorities and blockchain entities to trace the attacker. While the incident raises cybersecurity concerns, data shows a 50% reduction in crypto hacks in 2023 compared to 2022. Despite inquiries, Somesing has not provided additional comments on the breach.
Source - theblock.co
#CryptoNews #BinanceSquare
NFT Metaverse platform Another World joins Klaytn governance council to boost the platform’s gaming ecosystem with lucrative offerings.
#NFT #Metaverse #Klaytn #AWM #gaming
https://blockchainreporter.net/klaytn-governance-council-welcomes-nft-metaverse-platform-another-world-expands-its-gaming-ecosystem/
#NFT #Metaverse #Klaytn #AWM #gaming
https://blockchainreporter.net/klaytn-governance-council-welcomes-nft-metaverse-platform-another-world-expands-its-gaming-ecosystem/
🚀 Keep Your Eyes on Layer 1 (L1) Projects: The Next Big Thing in Crypto! 🌐💎
🚀🌟 Embrace the Evolution: Exploring the Crypto Landscape from AI Coins to Memecoins and Gaming Coins! 💰🎮 Now, Shift Your Gaze to the Future: The Ascendancy of Layer 1 (L1) Blockchain Projects. 🌐💎 Prepare to Immerse Yourself in Innovation! 🌊💸 Don't Miss the Wave! #CryptoTrends #Layer1Projects 🚀🔥#sol #ICP #dot #FTM #Klaytn
🚀🌟 Embrace the Evolution: Exploring the Crypto Landscape from AI Coins to Memecoins and Gaming Coins! 💰🎮 Now, Shift Your Gaze to the Future: The Ascendancy of Layer 1 (L1) Blockchain Projects. 🌐💎 Prepare to Immerse Yourself in Innovation! 🌊💸 Don't Miss the Wave! #CryptoTrends #Layer1Projects 🚀🔥#sol #ICP #dot #FTM #Klaytn
