KleverChain empowers its community

Community is the real power behind Klever’s growth.

With a view to give back all the love, trust, and confidence to its community, Klever has been tirelessly working to offer its services to all our users based globally. 

Started as a Tron Wallet in 2018, Klever has come a long way, due to its robust community that is always communicating with the team and helping Klever improve the ecosystem.

Now, Klever has built its own ecosystem that includes wallets, exchange, hardware wallet, custody, NFTs, extension, OS and KleverChain.

This is not the end; Klever is currently building more innovative products, which will also be released in the coming years.

This growth can only be possible because of the vibrant community Klever has and the trust the community has given to the team.

To empower the community, Klever has built its own blockchain, KleverChain.

Community’s empowerment through the KleverChain

KleverChain offers excellent performance, cost-efficiency, and a consensus-focused governance cycle using permissionless network infrastructure and active community governance.

Anyone is free to join KleverChain as a validator, developer, creator, or user due to its permissionless and its community governance makes sure that bad actors can be demoted or removed through recommendations made and approved by the community.

If a user wants to build their own token, which is called Klever Digital Assets (KDA), they can easily do so by building it on KleverChain

For building one, users don’t need any software & technical skills, as KleverChain has already embedded all token creation features in its chain.

DeFi projects, stablecoins, stock derivatives, notary documents, game assets, inventory control, supply chain management, staking, rewards, logistical records, loyalty programmes, collectibles, NFT gift cards, stored value, digital ownership, and many other use cases for which tokens can be created on KleverChain.

Security algorithm

In addition, KleverChain maintains a control layer on top of the open governance structure to guarantee the integrity, expertise, and professionalism of the network’s validators. 

This is a crucial component to safeguard users from fraud, scams, and unreliable blocks that many other smart contract blockchain systems now struggle with.

Additionally, KleverChain uses a modified version of the Practical Byzantine Fault Tolerance (PBFT) method, requiring at least 70% of the validators to concur with the data and information provided to the blockchain before a block is generated. 

Pre-Prepare, Prepare, and Commit are the three phases of the PBFT algorithm on the Klever Blockchain.

They work together to make up Klever’s PBFT consensus algorithm’s core. 

The blockchain can rely on just one block to come to a definitive consensus because of KleverChain’s use of the personalized PBFT. 

This method favors KleverChain in terms of speed for the thorough validation of blocks created.

In essence, a masternode is a full node on the network that is rewarded and given incentives to run and carry out tasks on the blockchain. 

Masternodes earn block confirmation rewards when transactions are confirmed by its blockchain node

A Masternode owner can participate in the KLV staking pool and compete with other eligible Masternode candidates for a slot among the top 21 block producers since the Masternode status is acquired through KLV staking.

According to the previous hash, 21 Masternodes are initially selected at random to serve as the validators for that epoch. 

However, this number can be altered by the community through consensus on a network proposal. More than twice in a row can be selected to use a Masternode as a validator.

KLV is the glue of Klever’s community

Klever Coin (KLV) is the utility coin of Klever’s blockchain. 

On KleverChain, KLV is utilized for all transaction fees, validator staking, rewards, delegation, minting, and transfers. 

A utility token gives our users credibility, agility, accountability, and independence. It improves ties to the community and makes it possible for innovative partnership agreements. 

The KLV token is involved in every transaction made inside the portfolio of Klever ecosystem apps, whether directly or indirectly.

KLV serves as a flow between the clients and the portfolio’s goods and services. Since this is what connects users and expands the ecosystem, Klever is working hard to strengthen this bond.

Even though KLV has only been around for two years, it has experienced exponential growth, already having over 200,000 accounts among its owners across four different blockchain protocols, and processing more than 18.3 million blockchain transactions.

With a motto to listen to every user’s feedback, Klever has been relentlessly working hard and has grown from just a few team members to now over 200 plus strong Klever ninjas serving the growing community with more dedication, grit, and resources. 

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