As part of its plans to increase security & speed, Klever (KLV) will soon be migrating to its own blockchain, KleverChain.
KLV is a utility token of Klever Ecosystem, which currently operates a Wallet, NFT Marketplace, Exchange, Hardware Wallet (Klever Safe), and Swap service.
So far, Klever is used by over 3.5 million users globally, of which 150,000 are daily active users. The ecosystem has one of its best security systems and will further be enhanced when it moves to its own chain.
Currently, Klever is built on top of the Tron blockchain, and in order to make crypto simpler, Klever decided to move on its own chain.
What does migration mean?
Migration to mainnet will make Klever scale its transaction speed to 2000+ Transactions per second (TPS). Developers who want to build blockchain applications can build on KleverChain.
For KLV holders, Klever will provide an opportunity to swap their Tron-based KLV tokens with KleverChain KLV tokens. Klever will announce this well in advance, so the community is aware of the process.
As of today, over 100+ nodes have joined the KleverChain Testnet in a seamless and accountable verification of transactions process.
In July 2022, Klever will move on its KleverChain and will compete with blockchains like Tron (TRX), Binance Smart Chain (BSC), Polkadot (DOT), Kusama (KSM), Solana (SOL), and others. It will also have kapps that will revolutionize the “smart contract” approach.
Benefits of 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.
KleverChain will provide pre-built and ready-to-use apps (Kapps) and functionalities that are native to the blockchain. It comes with ready-built features for all developers to build decentralized applications (KApps) through Klever OS Software Development Kit (SDK) their own interface solution.
It is built on top of Tendermint Byzantine Fault Tolerant (BFT) consensus and the Cosmos SDK and is backed by Bitcoin and USDT.
KleverChain governance token
Klever Finance Token (KFI) is the governance token on KleverChain. 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 token holders can vote for new application proposals; vote for new projects; vote for change application proposals, and earn network rewards.
KleverChain will also facilitate blockchain development for all developers by eliminating the complexity and vulnerability of smart contracts, and replacing them with ready-built apps and native features of Klever’s blockchain.
Developers can build projects on KleverChain which Klever calls Klever Digital Assets (KDA). The KDA can be a 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.
KleverChain uses the proof-of-stake consensus mechanism which means entities, companies or individuals, based on their assets, are selected as validators, and their task is to validate transactions and mine blocks.
Coming on KleverChain
However, developers will require KLV, the main utility token in KleverChain, where it can be used to store value; make p2p payments; participate in new projects; pay swap fees; reduce swap fees; reduce exchange fees; pay exchange fees; pay blockchain transactions fees; create KDA inside Klever Network; create news token across supported blockchains; provide liquidity for K-Tokens and stablecoins; staking and run with Klever masternodes.
Klever will also be implementing artificial intelligence (AI) and machine learning tools to assist users to become smarter and more informed investors.
It is also working on various innovative products and services that will break barriers and build a new normal in the finance sector and meet the desires of the users’ community. Strengthening each link for the common good. Klever believes that some technologies that are under development will enable major evolutions in making crypto simple and reaching the masses.
