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Coinmuhendisi-Klaytn AMA Summary

Coinmuhendisi-Klaytn AMA Summary

Klaytn official, with whom we held an AMA event as Coinmuhendisi on May 19, 2022, answered our questions and gave information about the project.

You can find the AMA content and details here.

First of all, the manager of Klaytn, whom we asked to introduce herself, conveyed the following:

David Shin is an Entrepreneur and a former Banker who has been involved in various startups around the world. He is also an active community builder, helping to set up non-profit organizations in Asia to enable appropriate engagement with local/regional organizations and authorities regarding cryptocurrencies and blockchain technology. As a Banker, David most recently worked at TD Bank as Head of Asia, Global Equity Derivatives and Repo Sales. David was the key crypto expert at TD, working with senior management to develop the bank’s strategy on digital assets. David also drafted a response to Canadian Regulators on behalf of TD Bank on how cryptocurrencies should be regulated in Canada.

After leaving the banking industry in July 2019, David joined Bitcoin.com as the President of their new exchange. In 2020, as a Tezos Foundation Consultant, he decided to join full-time as the Asia President of TZ APAC, an adoption organization supported by the Tezos Foundation. He recently left Tezos to head the Klaytn global adoption efforts in Cocoa. His focus will be on building the adoption and utility of the Klaytn blockchain among developer, retail and enterprise groups. David is a man for many financial institutions seeking advice and consultation on crypto and blockchain related projects. He has guided some global central banks on the benefits of digital currencies. David is considered an early adopter of digital currencies, which has made him appear in regional and global media outlets such as CNN, CNBC, Bloomberg, NY Times, Swiss TV and The Economist.

But our event started with some introductory questions we asked the Klaytn official as Coinmuhendisi, and the questions asked and the answers given are as follows:

Q1: How did you get into the guest promotion and blockchain industry? Introduction to Klaytn and his team (Additional: What is the relationship with Kakao?)

A1: In 2012, I was living in Hong Kong when a good friend of mine at Goldman Sachs asked me if I knew what bitcoin was while I was drinking beer. I said “no”, I didn’t. He told me to go home and do the white paper of google satoshi. I read that night and couldn’t sleep. The next morning, I called a good friend of mine who introduced me to his younger brother, who designed one of the first ASIC chips. So I was buying 001 order of chips. So my birth to bitcoin was mining. Klaytn is Kakao’s blockchain division. Klaytn is a fork of ethereum and entered the mainnet in 2019. Currently, klaytn is in a major global expansion move. With this global strategy, they opened an office in Singapore last year and hired me to lead global efforts. Before I joined Klaytn, I was at Tezos as president of Asia. I came from Klaytn and focused on the global plan to grow in 3 areas… gaming, metaverse and creative economies.

Q2: What is the difference between the direction of Klaytn 1.0 and Klaytn 2.0?

C2: klaytn 1.0 represents klaytn before the global expansion moves. klaytn 2.0 is how we define the new era or the global era of klaytn starting in 2021. klaytn 1.0 focus was truly building adoption in Korea and creating an ecosystem that underpins DeFi. klaytn 2.0 has taken a pivot, and as previously stated, the game has moved towards the metaverse and NFTs.

Q3: How does Klaytn benefit metastore creators?

A3: At klaytn we focus our attention on builders… which means we spend our resources building developer toolkits that make builders easy to build. We also invest in our infrastructure to be scalable and stable. We’ve had 2 outages since 2019 compared to solana, which has an outage every two months. Finally, we bring in partners and create a partnership model for our builders to find the optimal way to scale without having to do all the heavy lifting in the ecosystem alone.

Q4: Any exciting news about upcoming partnerships/collaborations/events?

A4: yes there are many, but for many of them I can only publicly disclose a few as we are currently under agreements that prevent us from disclosing. We agreed to work in several areas of cooperation. We also recently signed a strategic partnership with opensea, with which we already have a relationship, but recently expanded this agreement. With this extended deal we are working on an opensea/klaytn NFT conference in Korea before the end of the year so please be mindful of that…

Q5: How will Klaytn 2.0 help Klaytn better transform into the Metaverse blockchain?

A5: klaytn 2.0 puts a lot of focus on the scalability and compatibility of our infrastructure. We are working on interoperability across all evm chains as well as other non-home chains that are strategically aligned with our goals. This focus on interoperability and our investment in scaling our chain will ensure that metaverse projects are built on klayn seamlessly. Building metadata stores will require more non-functional and functional requirements than blockchains. We realized this early and started investing in building our chain to be prepared for the high demand that metaverse projects will bring to our chain. We also added many new layers of services and partners to our infrastructure. Oracles, indexers, IPFS, precision etc. Being an internal expert on issues is unrealistic… That’s why we’ve hired industry-leading partners to help builders integrate their solutions to give them the best environment to work with…

 

After the questions asked by Coinmuhendisi within the scope of the project and answered by Klayyn, the questions of 10 people from Twitter users and Telegram users were selected within the scope of the event, and the questions were answered by the Klaytn official.

TWITTER WINNERS

Q1. PARTNERS are the most important elements that strengthen the ecosystems of all projects. Can you tell us about your project partners and the partnership strategy they adopted? (@Emreks14)

A1: Since its international launch in August 2021, Klaytn has signed 5 strategic partnership agreements (in no particular order) with the following companies:

1. Japanese tech giant GMO Internet Group to explore blockchain use cases, including a JPY-pegged stablecoin on Klaytn

2. Innovation Factory, Indonesia’s digitization arm of Salim Group, to explore blockchain-based applications, including asset management solutions, supply chain traceability, and the use of NFT in gaming and entertainment

3. Asian NFT market East NFT to leverage the global LGBTQ crypto economy with NFTs based on Series Y content and broaden horizons through collaborations with the world’s largest partners in arts, music and entertainment

4. US-based entertainment group Animal Concerts will print NFTs for A-list celebrities and kick off with an NFT auction for a household name artist in the first quarter of 2022 5. Global fintech accelerator F10 to create an incubation program for blockchain startups in Singapore We’ve gained tremendous momentum in the last 3 months and are well positioned to ride the metaverse wave of 2022. These strategic partnerships in Japan, Indonesia, Thailand, the USA and Singapore are key components of our international expansion roadmap. More partnerships with leading game companies are on the way.

Q2: What are the advantages Klaytn offers to its investors in the rapidly growing NFT ecosystem? (@furkanybn1)

A2: The most important advantage is that we are one of the 3 chains integrated into opensea. Ethereum, polygon and klaytn. The nft trading volumes on Klaytnein opensea come very close to the ethereum trading volumes. Floor prices are stable and high for klaytn nft assets. Therefore, we offer a liquid, stable and globally accessible market for NFTs.

Q3: The Klaytn 2.0 lightweight paper mentions the Ethereum equivalent. What does this mean? What makes Klaytn unique enough to be the blockchain of first choice for metawarehouse building?(@INVESTOR543)

A3: Eth equivalence means that EVM-based dapps can be easily incorporated without any modifications. We try to make onboarding as easy as possible for developers. In terms of our value proposition to be the preferred metadata chain… It is linked to our partnerships that make our ecosystem much more interesting than any other layer. This includes NFT ticketing solutions for entertainment use cases in the metastore. This also includes functional NFTs for in-game open world environments. As well as developer tools that make it easy for builders to chain and integrate.

Q4: Is the Klaytn Platform a suitable platform for developers? Attractive features of Klaytn for developers?(@smailpeoplenft)

A4:  I mentioned more in sales above our teams for engineering for improvements much easier to handle. It has also made the ethereum equivalent much simpler for implementation than evm compatible chains. Finally, we’re working on our transportation facilities and programs that can enable acquisition to make the building easier for developers to acquire.

Q5: What is the roadmap with key milestones on Klaytn to become a metaverse blockchain for everyone? What can we expect to see for 2022?(@suemetin)

C5: For the roadmap… you can find a lot of information on our website… www.klaytn.foundation I’ve also touched on key points of our roadmap in previous questions, so please take a look at some of these answers.As for what you can expect to see in 2022…

The Klaytn Foundation is excited to announce the pilot phase of our new Proof of Contribution (PoC) program, in which we will commit to $100 million worth of KLAY. Designed to foster sustainable ecosystem growth, our new PoC program rewards users and creators of active DApps based on KLAY and locked-coin value and total gas fee usage. Who can join? We will only open applications for DeFi projects for this pilot phase, but the PoC program will be expanded to include NFT and gaming projects once fully launched.

PoC Summary The Proof of Contribution program is designed to reward users and teams that contribute to the growth of the Klaytn network. The program will begin as a pilot that rewards TVL’s growth in DeFi protocols. To qualify, the DeFi protocol must have a TVL of at least $50 million. If selected, users and teams of the DeFi protocol will receive up to 1.2% APR in KLAY rewards.

And thus our AMA event2. section is over.

 

 

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