Klaytn Announces Implementation Fee Delegation Policy for Blockchain Services

Klaytn, a global public blockchain platform developed by Ground X, the blockchain affiliate of the leading South Korean Internet company, Kakao, announced on Wednesday it has implemented a fee delegation policy for its partners operating blockchain applications on its platform. According to Klaytn, developers would be able to deploy or execute smart contracts at no cost. Further, any wallet services that support Klaytn’s KLAY or Klaytn-based tokens can also have their transaction fees covered by Klaytn so that its users can send or receive tokens at no cost.

“Klaytn will be running the fee delegation policy for the next 1 year. Current Klaytn partners are eligible first. After considering network and security issues, Klaytn plans to extend the policy for any interested developers or service providers.”

Speaking about the fee delegation policy, Jason Han, the CEO of Ground X, stated:

“We decided to waive all transaction fees for Klaytn services to express our gratitude for the partners who have contributed to building the greater Klaytn ecosystem.” He added, “We will extend this new policy for any interested startups or developers so that those who had difficulty using a public blockchain due to high costs would be able to consider using Klaytn blockchain.”

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

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