Klaytn Will Do an Initial Listing on Upbit Exchange

| Updated
by Janis Rijnieks · 3 min read
Klaytn Will Do an Initial Listing on Upbit Exchange
Photo: Klaytn / Medium

Klaytn, which is a blockchain platform led by South Korea’s Kakao, announced an initial listing on Upbit exchange.

In recent news, Klaytn, one of the leading blockchain platforms, announced that they will be launching an initial listing on Upbit Singapore and Upbit Indonesia by the end of September. KLAY, the new token, will join more than 150 cryptocurrency assets on Upbit, which also is a South Korean operated company with offices around the world. Upbit operates in countries like Korea, Singapore, and Indonesia, but they also have partnered with a U.S. cryptocurrency exchange Bittrex. 

Jason Han, the CEO of Ground X, who heads the development of the Klaytn platform, said:

“We are excited for the upcoming KLAY debut listing on Upbit Singapore and Upbit Indonesia.

With the official introduction of KLAY, we expect more developers and service providers will participate in the growth of the Klaytn platform. Together with our community, we look forward to becoming Asia’s leading blockchain platform.” 

Klaytn was initially developed by Ground X, which is the blockchain platform company for Korea’s leading messaging platform Kakao. The crypto company, basically, is a public blockchain platform which focuses on encouraging businesses and developers to switch to blockchain.

Their pitch is that by switching to blockchain, businesses and developers can offer a service which would be robust, responsive, and usable with many new technologies. Also, they say that by doing so, it would remove adoption hurdles:

“Klaytn is a service-centric blockchain platform providing intuitive development environment and friendly end-user experience. It is built upon solid reliability and significant stability with substantial service development for mass adoption.

The platform allows real world applications of large scale to be produced right away so that our end-users can make full use of services without much expertise in blockchain or cryptocurrency.”

This noble aim for making blockchain massively adopted, of course, is not just a dream. It already is a reality. You can tell that by looking at Klaytn’s partner list. They have partnered with many major businesses in a wide range of industries. These companies include LG Electronics and UnionBank of the Philippines. Moreover, they have partnered with various government council programs.

Kakao previously has claimed that their Klayth blockchain is 15x faster than Ethereum‘s and can process 300 transactions per second while Ethereum only processes 20 transactions per second. Also, GroundX stated that Klaytn can mine a block is just one second while Ethereum does it in 15 seconds. 

“I believe it would be the initial version of a mobile [blockchain] service. With the reduced response time, many projects that we believed unfathomable could eventually come true,” said Ground X CEO Han Jae-sun.

And that brings us to mobile devices, particularly, Samsung Note 10 which in South Korea is dubbed as “KlaytnPhone”. The new Samsung phone will most probably use some of Klaytn’s services. 

While that would seem the end of the story, Upbit has decided to celebrate and reward its users a little bit. They’re hosting a social media event for the KLAY airdrop and overall, they are giving away a total of 5 million KLAY tokens.

Altcoin News, Blockchain News, Cryptocurrency news, News
Janis Rijnieks

Janis is a cryptocurrency enthusiast and a bitcoin adherent. He has a background in video production, but for the past couple of years, he is a full-time crypto researcher and writer. He has a good understanding of multiple cryptocurrencies and loves to cover daily news. He considers himself a semi-bitcoin maximalist but always is open to any kind of new ideas that could be put on the blockchain. In his free time, he likes skateboarding and cars.

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