Klaytn Blockchain to focus on demand and value of KLAY token in 2023: roadmap

Klaytn Blockchain to focus on demand and value of KLAY token in 2023: roadmap

By Charles Thuo - min read
  • Klaytn is a public blockchain platform developed by South Korean internet giant Kakao Corp.
  • The blockchain plans on establishing KLAY as a deflationary asset.
  • It also wants to provide more tools for developers who want to launch products on the network.

The latest technology and developer roadmap released by Klaytn developers earlier this week emphasized that the Klaytn blockchain intends to increase the demand and value for KLAY tokens.

Klaytn also recently passed a governance proposal to burn about 50% of KLAY’s supply. The move aims at making KLAY more valuable going by the demand and supply principle.

Klaytn 2023 roadmap

The recently released Klaytn roadmap states that Klaytn would find crypto infrastructure services, like decentralized oracles, where the KLAY token can be used, to increase the token’s transactional utility. This would also result in more gas burns.

Klaytn also plans on launching a permissionless pilot network on its Cypress mainnet in the second half of 2023. The pilot network will test the automation of the entry and exit of validators or entities on any blockchain that is responsible for verifying transactions.

The blockchain also intends to initiate several governance initiatives including establishing community governance council selection and sacking processes. Klaytn intends to transfer its decision-making authority to the community allowing KLAY token holders to have a say on who sits on the governance council, which is a group of network participants that oversee the governance of the Klaytn Network.

While the price of the KLAY token is currently in the red, Klaytn expects the value of the token to considerably rise once it starts implementing the milestones in the roadmap.