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Klaytn 2.0 to Boost Efforts on Global Ecosystem Expansion

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Continued focus on developers and dapp creation

Klaytn is a global public blockchain platform launched by Ground X, a blockchain affiliate of the leading South Korean Internet company Kakao. The Klaytn blockchain has successfully completed the first phase of its development, and the team is now proud to announce Klaytn 2.0. 

One of the main use cases of the Klaytn blockchain is to create a development environment where decentralized applications can realize their full potential. According to the official press release for Klaytn 2.0, this will continue to be the main focus of the ecosystem going forward.

Since the beginning of 2021, Klaytn introduced several major updates to their mainnet and their blockchain ecosystem. Kakao also announced numerous key partnerships. For example, in March, OpenSea confirmed that Klaytn-based NFTs will sell on the marketplace. In addition, Klaytn became part of Binance Launchpool, furthering the move for global expansion back in June. 

Additionally, this year the blockchain’s native token KLAY reached its all-time high of $4.34, according to CoinGecko. Considering this wave of successful initiatives in the first half of 2021, the Kakao team is now working on launching the next developmental phase of the project – Klaytn 2.0. 

Global empowerment and education

With Klaytn 2.0, Kakao is looking to dip into its $300 million Klaytn Growth Fund (KGF) and expand the whole blockchain ecosystem. This includes launching the KGF Grant Program, which will sponsor developers and dapp creators. Furthermore, the Klaytn Foundation is on the lookout for various blockchain-based projects to invest in. A big part of the effort with Klaytn 2.0 goes towards to education and empowering developer communities. 

They will also focus on incubator programs. The main goal is to give a solid foundation for projects and dapps that are currently starting out. For this to happen successfully, Klaytn will put a lot of effort into launching global services. These services will allow developers from all over the world to participate in incubator initiatives.

Last but not least, the Klaytn Governance Council will take center stage in the decision-making process across the ecosystem. The council now has more than thirty members, including major global partners, alongside representatives of the developer community. Klaytn now boasts $1.2 billion in total value locked (TVL) to date across all DeFi solutions on the blockchain. 

With the introduction of Klaytn 2.0, the whole ecosystem will receive a boost in activity and performance. DappRadar will continue following the development of this unique dapp development environment, so stay tuned. 

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