5 Cryptocurrencies Millennials are Buying for Retirement

3. Klaytn

Klaytn is another crypto network that is geared to serve the specific needs of business clients. The coin was founded by Ground X in 2019 to drive mass crypto adoption. The platform offers decentralized data and distributed governance at low latency and increased scalability. The modular options that the network offers to businesses allows them to build their blockchain according to their own specific needs. These service-based blockchains are connected to the overall network but can function separately as well. 

Klaytn uses a combination of the proof-of-work (POW), and proof-of-Stake (POS) consensus mechanisms. This is achieved through an improved arrangement of Instabul Byzantine Fault Tolerance. For businesses who need further guarantees, Klaytn allows the use of the POS mechanism exclusively. The POS mechanism only allows a finite number validators, improving overall security of the system. The network offers faster speeds than other blockchains and can process 4,000 distinctive transactions in just one second.