Blockchain is difficult, but it shouldn’t be. KleverChain fixes this.
KleverChain Testnet has arrived in all its blockchain glory, along with Klever Explorer for the public to view all transactions being conducted on the first version of KleverChain Testnet.
Thanks to the Internet’s seamless commerce and communication, we now have access to new financial opportunities that have led to a completely novel way for us to live our lives, manage our finances, and ensure our security.
Increasingly, all global citizens regardless of their nationality, region of origin or economic status are now empowered by blockchain and peer-to-peer technologies to take part in building digital economies powered by decentralized networks.
Transnational transactions can be made anonymously, trustlessly and securely across borders using decentralized economies that eliminate middlemen. These digital economies are increasingly providing individuals with more options to earn and spend their money on mobile and web-based apps, in all areas of entertainment, real estate, finance and more.
Klever has dedicated the past decade to building blockchain solutions and products for millions of users around the world. As a result, we have learned a great deal about blockchain technology, cryptography, immutability, and which technologies are most effective in optimizing high performance, speed, security, and reliability.
KleverChain provides a safer, faster and smarter cryptocurrency experience by providing permissioned blockchain governed by the community to all users globally, allowing them to participate in and thrive within the decentralized economy.
Despite its perceived intrinsic value, blockchain networks are only as valuable as the products and opportunities they provide for their users. As a result, we have developed the KleverChain so that users across the globe can access a range of indispensable services and products, in a simple, direct and profitable way.
These include the most popular crypto wallet, crypto exchange, browser, staking, payment channel, loan, liquidity pool, decentralized finance, supply chains, logistic records, notary, saved value, gift cards, rewards, loyalty programs, collectibles, banking, digital ownership, and more.
At Klever, we sought to create a network based on security, efficiency, and innovation that empowers businesses and individuals to participate in a global economy in a trustless manner.
By empowering people to equal economic opportunity, we want to accelerate the adoption of decentralized finance.
By utilizing peer-to-peer and blockchain technologies, we strived to create the most innovative, secure, and easy-to-use products possible. Klever does this!
By leveraging the power of blockchain technology, Klever empowers people to find innovative solutions for real world problems.
With KleverChain, developers can build decentralized applications in a way that has not been possible before.
KleverChain makes it easy, cheap and simple for developers to build and deploy blockchain apps.
KleverChain offers an array of decentralized applications, and with the launch of Testnet, these applications will be prodded, tested, optimized and advanced to make your blockchain experience secure, seamless and inspiring.
We are building our blockchain from the ground up with the expertise, knowledge and an open mind needed for the most effective technologies in terms of security, performance, scalability and accessibility.
Lets dive deeper into the different applications, features and technologies that make up KleverChain:
Kapps
KleverChain Apps (kapps) are on-chain applications developed by Klever Finance.
KleverChain will offer pre built and ready-to-use apps and functionality native to the blockchain, not merely a smart contracts platform.
Developers will be able to implement their own interface solution through the Klever OS Software Development Kit (SDK).
KleverOS SDK
As a result of this groundbreaking approach, KleverChain’s native infrastructure is much more secure, simpler to build, and cheaper to deploy than today’s dapps.
Thanks to Klever OS’ simple approach, mobile and web developers do not require a deep understanding of crypto and blockchain. With their low code integration, they will be able to offer decentralized financial services.
Apps can often be difficult to deploy on blockchain networks due to their complexity and difficulty, but this should not be the case. KleverChain will change this. By lowering the barrier to entry and making it easier to deploy the features you want, we invite a much broader community of developers and users worldwide.
In addition to working with traditional industries to understand their needs, Klever Finance will develop and deploy the Klever applications necessary for traditional industries to make use of blockchain technology. At the same time we will be continuously developing KleverChain use cases as the use cases expand. We will do this with the help of Klever’s multidisciplinary engineers with many years of experience.
Scalability and Performance
We have learned a lot about the practice of microservices from our experience handling large amounts of data in the private sector and having multiple public blockchain nodes and about 3 million users on Klever Wallet.
This will be the case in KleverChain, since it will be built on a microservice architecture, where each process is responsible for its own task and integrated with others. With a one-click solution, anyone who wishes to run their own instance of KleverChain can do so in a fast and scalable manner.
With our modular structure, we will be able to increase transaction rates as we attract more users and see a growing demand. Our initial target is 2,000 Transactions per second (TPS).
Proof-of-Stake Mechanism
The consensus algorithm we use is based on the PoS (Proof-of-Stake) consensus mechanism.
On the KleverChain, PoS means that entities, companies or individuals, based on their assets, are selected as validators, and their task is to validate transactions and mine blocks.
To be promoted as a validator, as well as to operate a Masternode, a validator must hold a minimum amount of Klever Coin (KLV).
Masternodes are essentially full nodes on the network that receive incentives and rewards for operating and performing actions on the blockchain. With Masternodes, Blockchain users have access to a highly reliable network and professional services from experienced node operators.
The consensus algorithm selects a portion of eligible Masternodes for every epoch, which is a period of time during which the network measures and adjusts its status. Initially, an epoch lasts one hour, though this parameter can be updated by the governance community.
A successful proposal to the network can update this number of block producers to 21.
There is a right of each Masternode to 1 vote in the governance of the blockchain, where they can vote on proposals and propose new governance proposals.
Using a permissioned network, KleverChain provides high performance, cost efficiency, and a smooth governance cycle. On top of a secure peer-to-peer network, a powerful decentralized platform can build an unlimited number of blockchain applications.
KleverChain runs a control layer on top of an open governance framework in order to ensure professionalism and competence among the network’s validators. This is an essential feature in our mission to protect users against scams, frauds and unreliable block producers, which are problems that many other existing smart contract blockchain protocols suffer from today.
Validators and Masternodes
A Masternode candidate on KleverChain must hold a minimum of 10M KLV in staking threshold to be activated as a Masternode on Mainnet. A fee of 1M KLV will be charged and burned in the Masternode activation process after pre-staking.
When masternodes confirm blocks, they earn rewards.
Initial block reward flowback is set at 50% of fees paid by users. Inflation will be controlled and profitability will be maintained by burning an additional 50% of fees.
Due to Masternode status being obtained through KLV staking, a Masternode owner is also a member of the KLV staking pool. Reward privileges may be changed by community vote or proposal approval.
There will initially be 21 masternodes that provide the initial bootstrapping of the mainnet. Foundation nodes will burn all the KLV block fees they produce. After Mainnet is stabilized, Klever Finance will submit a proposal to allow public Masternodes to be created and removed.
At the time of Mainnet launch, Klever Finance will be deploying a contract for pre-staking activities of 10 Masternodes with a threshold of 25M KLV. 10 additional seats will be made available for pre-staking at a threshold of 35M KLV in a second stage.
Transactions
The core function of KleverChain is transactions. They are the mechanism that binds on-chain features with the real world.
Developers can easily broadcast transactions on multiple currencies and blockchains with Klever SDK (Software Development Kit), without having to have prior experience in cryptography or blockchain.
KleverChain users have ten free daily transactions, no matter the size or value of the transactions.
If you exceed that limit of free transactions, the initial cost for each transaction will be ~0.01-1 KLV. There is an on-chain voting mechanism that regulates the blockchain fees.
Built-in Apps (kapps)
Blockchain products from Klever are the optimal solution for companies and developers that want to leverage innovative technologies and cooperate with a community that is experiencing rapid growth and development.
Blockchain technology combined with the best products, innovations, team, and people will make our ecosystem stronger, more relevant, and more profitable.
We facilitate blockchain development for all developers by eliminating the complexity and vulnerability of smart contracts, replacing them with ready-built apps and native features of Klever’s blockchain.
Since Klever Finance develops and deploys applications and functionalities embedded in the blockchain, we can design applications that are secure by nature.
Our market-first on-chain applications that exist inside the KleverChain were implemented to negate the risk of fraudulent attempts to use the KleverChain. These applications can either be enabled or disabled by community vote.
KleverChain on-chain apps:
- On-chain swap
- Liquidity mining
- Liquidity pools
- Username and domain registration
- Username and domain sale
- Digital identity
- NFT marketplace
- Create collectibles and NFT tokens
- Loans and collaterals
- DEX
Klever Tokens (K-Tokens)
KleverChain sub tokens are called K-Tokens. The purpose of the sub tokens is to make the Klever Network more useful. Using K-Tokens in Klever Network apps is extremely fast, reliable, and secure.
KleverChain lets users create native tokens without having to deal with complicated smart contracts. The native form of each token in KleverChain is “K-Token”. You will be able to create tokens with Klever Wallet in just three steps.
K-Tokens can be issued by anyone using Klever Wallet, and the price to create one will be 10,000 KLV that must be burned.
You can create K-Tokens for:
- DeFi projects
- Stablecoins
- Stock derivatives
- Notary documents
- Game assets
- Inventory management
- Supply chain
- Staking
- Rewards
- Logistic records
- Loyalty programs
- Collectibles
- NFT
- Gift cards
- Stored value
- Ownership
- and more…
Our main token, Klever Coin (KLV) , has a 3-second confirmation time in our K-Tokens. Klever Swap also supports K-Tokens, which can be listed for free when adding KLV liquidity.
KLV is the main utility token of the Klever Blockchain.
We are confident that having the KLV token as the primary token for all of Klever’s products, platforms, and services will give Klever’s customers worldwide credibility, accountability, flexibility and independence.
Among Klever’s key features and tools, Klever Swap uses KLV as its fee engine. By storing KLV in their wallets or paying fees with KLV, users can reduce their swap fees. In addition, any fee paid out in another coin or token is instantly converted into KLV by buying it off the market, which increases KLV’s liquidity and usability. Quarterly, some KLV are burned from Swap fees.
KLV can be used on KleverChain as follows:
- Store value
- Make p2p payments
- Participate in new projects through crowdfunding
- Pay swap fees
- Reduce swap fees
- Reduce exchange fees
- Pay exchange fees
- Pay blockchain transaction fees
- Create K-Tokens inside Klever Network
- Create new tokens across supported blockchains
- Provide liquidity for K-Tokens and Stablecoins
- Staking with hourly rewards
- Run Klever Masternodes
Klever Finance Token (KFI)
In KleverChain, the Klever Finance Token (KFI) signifies governance.
By using an on-chain voting system, KFI token holders can control the app protocol configuration (like application fees and referrals) and approve new apps.
KFI owners are eligible to receive application rewards in KLV. As part of the KFI governance community, each application can decide its own fees, and the fees will be distributed autonomously to all applicants. To receive application rewards, KFI holders must freeze their KFI. As one of the main features, network participants are able to add KLV as liquidity for all Klever-based Tokens in order to mine KFI tokens.
In summary, KLV Coin is the main utility token of KleverChain, while KFI is the blockchain’s governance token.
With KleverChain, we can build an unlimited number of peer-to-peer applications. Every protocol app will have its own fee contribution model to the network and to the KFI governance community. In parallel to the development of more apps on KleverChain, more value is flowing through KLV into liquidity pools and more rewards are distributed to the KFI governance community.
You can use KFI on KleverChain to:
- Vote for new application proposals
- Vote for new projects
- Vote for change application proposals
- Earn network rewards
There’s so much to say and so little time, so we want to make it clear to those considering or presently working on blockchain based projects.
KleverChain is the best, easiest and smartest solution for any project.
We are now on the road to financial independence with today’s Testnet Launch.
Here’s a quick overview of the key KleverChain blockchain benefits:
- Low-cost development of decentralized applications (dapps).
- Dapps can be built directly on the blockchain without requiring intricate or vulnerable smart contracts to be written or used.
- With an easy-to-use interface and development time savings, the blockchain comes pre-built with features ready to use. Saving on both time and budget!
- Support from a large, growing global community. A community that demands new solutions and applications for the blockchain that will continually evolve.
- By adding an additional service charge to your project, you can enhance your profitability.
- API’s that are ready for use to facilitate integrating and developing new solutions.
- Developers are not required to run nodes.
Sincerely,
Klever Team
Disclaimer
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Klever will make best efforts to choose high-quality coins, but will not be responsible for your trading losses. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. Klever is not liable for investment gains or losses.
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