The blockchain technology and crypto space are transforming at a great pace requiring all sorts of development for finance, governance, education, and business operations, with a goal of simplifying the life we live presently.
As a result, many blockchain development companies are seeking to provide solutions that will benefit humanity. Despite this, people will only have a limited understanding of what blockchain technology is and therefore conclude that it has limited prospects and benefits.
What is Blockchain?
In a recent definition of blockchain according to IBM:
This can also be a set of distributed databases that are shared among different computer nodes across a global network. Such that each block within the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger.
This can be in the form of digital data that can range from all forms of items like the data generated from the number of shoes produced by major shoe manufacturers across the world, or a number of cars produced around the globe.
There is a lot of data that can be generated and distributed globally to help fight crime and criminality too. This is just one use case of blockchain technology and its potential to solve global problems.
Why is blockchain important?
It is indeed a proven fact that all businesses run on processed information.
Consequently, the rate at which such businesses receive and transfer such processed information, the more accurate it has been proven to be, and the better such businesses tend to get.
This goes to show that blockchain technology is ideal for delivering such information because it provides immediate, shared, and completely transparent data stored on an immutable ledger that can be accessed only by permissioned network members.
Benefits of blockchain
- Greater trust: The application of blockchain technology, as a member of a members-only network, grants you as a user the assurance that you are receiving accurate and timely data derived from the blockchain, and that your confidential blockchain records will be shared only with the network members to whom you have decided to grant access.
- Greater security: As a means of ensuring security, there is a consensus on data accuracy which is a major requirement from all network members, and all validated transactions are immutable because they are recorded permanently. No one, not even a system administrator, can manipulate, edit or delete a transaction within the blockchain.
What is the Klever Blockchain (KleverChain)?
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 KleverChain so that users across the globe can access a range of indispensable services and products, in a simple, direct, and profitable way.
Some of the services that KleverChain would support include the most popular crypto wallet, crypto exchange, browser, staking, payment channel, loan, liquidity pool, decentralized finance, supply chains, logistic records and so much more.
What are the sub tokens (KDA)?
At Klever, our goals are channeled towards creating a network based on security, efficiency, and innovation that empowers businesses and individuals to participate in a global economy in a trustless manner.
KleverChain sub tokens are called “Klever Digital Assets” (KDA). The purpose of the sub tokens is to make the Klever Network more useful. Using KDA in Klever Network apps is extremely fast, reliable, and secure.
Klever’s blockchain lets users create native tokens without having to deal with complicated smart contracts. The native form of each token in KleverChain is, in fact, the KDA itself.
With this system, you will be able to create tokens with a use case in Klever Wallet in simple steps.
KDA can be issued by anyone using Klever Wallet, and the price of creating one will be 10,000 KLV. The asset issue cost may change based on the community proposal.
You’ll be able to create KDA for the purpose of the following and many others:
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, and Ownership.
However, our main utility token in Klever Blockchain is named Klever Coin (KLV). The Klever Swap also supports KLV and KDA, which can be listed when adding KLV liquidity.
The standard features of all KDAs include:
- Change owner
- Assign or remove roles of other addresses
All KDA additionally come with built-in royalty features, with all parameters being able to be set by the creator themselves, specific for that creator’s use case. Being able to integrate royalties for both fungible tokens and NFTs as a standard feature directly on-chain is unheard of in the blockchain space and KleverChain will be the first blockchain protocol to offer this on-chain.
There is so much to look up to with the arrival of the new KleverChain. For users and prospective users, it would be prudent to get on board the Klever ecosystem in order to maximize its potential.