Kaia, a Layer1 blockchain supported by the two major Asian messaging app companies Kakao and LINE, has seen its token $KAIA surge by 104% in the past week, breaking through $0.38 at the time of writing, despite Bitcoin's 24-hour gain of 38% and a market cap exceeding $2.2 billion.
Among the many L1 blockchains in the market, why has Kaia seen such a rapid rise recently? What makes Kaia special? BlockTempo will provide readers with a detailed overview.
What is Kaia?
According to the official website, Kaia is a public chain focused on achieving high scalability, low-latency transactions, environmental friendliness, and developer-friendliness, and officially launched its mainnet this August.
Backed by the two major Asian messaging giants Kakao and LINE
Notably, similar to the public chain TON backed by Telegram, Kaia also has the joint support of the two major Asian messaging giants, the Korean social media giant Kakao and the Japanese instant messaging app LINE.
According to reports, in January this year, Kakao's blockchain Klaytn and LINE's blockchain Finschia formally proposed a merger plan, with the official statement citing inspiration from TON, and the merger aims to build the largest Web3 network in Asia.
On February 15, this merger proposal received over 90% voting support from the respective communities of Klaytn and Finschia, and finally on August 29, Kaia officially launched its mainnet, with the original Klaytn token $KLAY automatically converted to the current $KAIA token, while the Finschia token $FNSA needs to be manually converted by holders to $KAIA.
Features of the Kaia chain
To achieve Kaia's goals of fast transaction processing, reducing user entry barriers, and promoting developer adoption, Kaia has implemented the following under the PBFT algorithm:
- 1-second block generation and confirmation time
- Ability to process 4,000 transactions per second
- Low gas fees, about 1/10 of Ethereum
- EVM (Ethereum Virtual Machine) compatible
Core architecture of the Kaia chain
The core design architecture of the Kaia chain is:
- Core Cell Network (CCN): Composed of core cells responsible for transaction verification, execution, and block creation
- Edge Node Network (ENN): Composed of edge nodes that handle RPC API requests and process service chain data
- Service Chain Network (SCN): Auxiliary chains independently operated by Dapps, connected to the main chain through ENs
$KAIA token economics
The $KAIA token, as the native token of the Kaia chain, has the following token economics:
. $KAIA tokens are automatically issued with the creation of each new block;
. The initial annual inflation rate is: 5.2%
. Block reward distribution includes: 'staking rewards' must be translated into 'staking rewards'. 'Block' must be translated into 'Block'. 'Gas' must be translated into 'Gas'. 'gas' must be translated into 'gas'. 'TRON' must be translated into 'TRON'. 'Klaytn' must be translated into 'Klaytn'. 'Chia' must be translated into 'Chia'. 'FINSCHIA' must be translated into 'FINSCHIA'. 'HT' must be translated into 'HT'. 'KLAY' must be translated into 'KLAY'. 'ACH' must be translated into 'ACH'. 'PLA' must be translated into 'PLA'. 'FNSA' must be translated into 'FNSA'. 'RON' must be translated into 'RON'. 'ONG' must be translated into 'ONG'.
- 25% allocated to the Kaia Ecological Fund;
- 25% allocated to the Kaia Infrastructure Fund;
- 50% allocated to the community: 20% of which is allocated to block creators; 80% as staking rewards.
$KAIA Token Utility
. Pay transaction fees
. Token holders can participate in decentralized community governance, voting on Kaia chain decisions and development direction
. Staking: Similar to Ethereum-like PoS (Proof-of-Stake) blockchains, KAIA token holders can stake KAIA to help ensure network security, and also receive staking rewards
Introduction to Kakao and LINE
KakaoTalk is a free instant messaging application launched by the South Korean company Kakao in March 2010. As of the second quarter of 2024, KakaoTalk has over 54 million monthly active users globally, with the majority concentrated in South Korea.
In South Korea, the usage rate of KakaoTalk exceeds 87%, making it the most popular messaging software in the country. Kakao also continues to provide other services, such as Kakao Pay (mobile payment) and Kakao Taxi (ride-hailing service), further expanding its ecosystem.
As for LINE, Taiwan users are already very familiar with it, but what fewer people may know is that LINE was initially funded by the South Korean Naver Group, until in 2019 when Japanese SoftBank and Naver reached an agreement to each contribute 50% to establish a new holding company Z Holdings, merging LINE and Yahoo Japan, with both parties retaining equal control.
According to Wikipedia data, as of the end of 2022, LINE has approximately 194 million monthly active users globally, with its main markets including Japan, Taiwan, Thailand, and Indonesia. In Taiwan, its penetration rate reaches 90%, indicating its high usage rate in the country.
Kaia Chain-related News Compilation
. 2024/11/28
LINE Announces a Bombshell! Launching Multiple "Mini Dapps" in January Next Year, Focusing on Games and SocialFi, Can Kaia Chain Replicate the TON Craze?
The Kaia blockchain announced that the most popular instant messaging app in Japan and Taiwan, LINE, will soon launch decentralized applications (Mini Dapps) based on the Kaia blockchain.
According to the Kaia Foundation's introduction, LINE's Mini Dapps will mainly focus on the gaming and SocialFi sectors, allowing developers to build small games running within LINE, enabling users to play while chatting with friends, and integrating entertainment and economic activities.
. 2024/7/4
Exclusive Interview with Public Chain Klaytn》Clothing, Food, Housing, Education, and Entertainment All on the Chain! Unveiling the Ambition of Messaging Apps Kakao and LINE in Building the "Kaia" Blockchain
In January this year, Kakao's Klaytn, a South Korean internet and communication giant, and the blockchain "FINSCHIA" launched by Japanese communication giant LINE, reached a cooperation to build a new blockchain "Kaia". To better understand the details behind it, in June, BlockTempo conducted an exclusive interview with John Cho, the Marketing Vice President and Growth Director of Klaytn.
>For more news about Kaia, please click to read
