What is Klever?

The blockchain industry can now be considered a staple part of the global financial system. However, many users find it challenging to adopt cryptocurrencies due to their technical nature. Klever tackles this issue by providing users with a faster and smarter cryptocurrency experience. From its intuitive and secure wallet services to its innovative dApps, Klever empowers its users with seamless and efficient tools to navigate the complexities of the blockchain industry properly. This article will shed light on Klever, its features, and how it works.

What is Klever?

Klever is a versatile and secure crypto wallet supporting the leading blockchains in the crypto industry. It features an ecosystem that serves over 3 million users worldwide and over 300,000 active users. Klever is a decentralized peer-to-peer and self-custody wallet network that seeks to put the keys of the cryptocurrency industry in the hands of its users.

Klever achieves this with a mobile app available on the Apple App Store and Google Play Store. The app offers over 300 trading pairs in Klever Swap, including direct access to ETH and TRX-based dApps in the Klever browser. In addition to the app, Klever also features various other unique platforms such as Klever Bank, Klever Exchange, Klever Labs, Klever OS, etc.

History of Klever

The Klever multi-currency wallet was created in 2018, and the Klever token itself was launched in June 2020. After three years of development, the mainnet was launched in 2021. Klever was founded by CEO Dio Ianakiara, who has vast experience in the cryptocurrency industry, working with companies like Getty/IO Inc. and GoVivant. Other co-founders include David Ianakiara, Marlon Gomes, and Misha Lederman.

How Does Klever Work?

The Klever wallet is a self-custodial wallet that grants users access to the private keys of any digital asset they hold in their wallet. Therefore, users can skip a KYC (Know Your Client) process when they open an account with the wallet.

The Klever App also makes it quicker for users to exchange cryptocurrencies by monitoring live price action on other leading exchanges, which the wallet then uses to create a price index to be used by the swap. Thus, when users try to use the swap feature within the app, they will see a default pair, usually BTC to USDT. Users can then make a quote, check the price prediction offer, or enter the amount they wish to swap.

Main Features of Klever: Proof-of-Stake, Security and Klever dApps

Klever was created to solve the crypto industry’s two major issues today- security and user experience. To achieve this, Klever has put a few measures in place to ensure smooth operability:

Consensus Model

Klever works using a proof-of-stake consensus mechanism. This means validators on the Klever blockchain would be saddled with the task of validating transactions and mining blocks, and they would be chosen based on the amount of assets they hold.

A validator has to provide proof of holding a certain minimum amount of KLV coins to earn the right to act as a validator. Validators also operate a masternode, a full network node that receives incentives and rewards to operate and perform actions on the blockchain. This system of using Masternodes provides a highly reliable network and professional services by experienced node operators to the blockchain’s users.

Security

As stated earlier, Klever offers its users true self-custody and secure cryptocurrency ownership. This is ensured by building the Klever app on top of the Klever OS (operating system), which uses advanced security mechanisms that protect users’ private keys and funds.

The Klever OS SDK (Software Development Kit) is a Wallet as a Service (WaaS) that provides military-grade systems of encryption to any developer, but what makes it stand out is the security aspect, as the encryption happens locally in the user’s device, in what is known as the Native Core. In a simplified version, Klever’s military-grade encrypted architecture ensures private keys and other sensitive data are available only on the user’s mobile device.

Klever’s Native Core can be considered a black box in the Klever OS. This black box can communicate with the user interface of the wallet system. However, it is completely isolated from it, making any hack attempts on the wallet virtually impossible.

Klever Ecosystem: Klever dApps

The Klever pipeline has produced some exciting products that have the potential to revolutionize the blockchain industry as we know it. Some of these products and dApps include:

Klever Wallet

This is a decentralized p2p crypto wallet where users can store crypto assets, including BNB, ETH, BTC, KLV, and others. It also allows users to carry out exchanges and trades from the wallet.

The wallet is still relatively new, accumulating up to 2 million users worldwide and 30,000 daily users. It was designed to solve two major issues- the security issue plaguing the crypto world and the problems with user experience. Users also have total control over their wallet’s private keys, meaning each key is unique to each user, and developers of the dApps on the Klever protocol would not be able to see or access the private keys of other users.

Klever NFTs

Klever seeks to realign NFT usage towards the restaurant industry in their search to exploit NFT market potentials. To this end, Klever partnered with Nomads Hospitality to deliver actionable NFTs. Both companies believe there is a chance to create a unique identity in the restaurant industry using NFTs to help foster adequate customer engagement.

Klever will help deliver utility-driven NFTs businesses can use to build community projects. Its NFT platform aims to disrupt the crypto market through various NFT-themed events, including the Bravery Chef Hall Fractional Cookbook NFT, Railway AR foodie hunt, and Chef Dinner Events.

Klever Exchange

Klever Exchange allows users worldwide to trade and exchange cryptocurrency, including Klever’s native token- KLV. The exchange offers users lightning-fast speed, low transaction fees, privacy, and high security. The goal of Klever exchange is to enable the trade of crypto coins to be easier and faster.

KleverChain: Klever Blockchain

KleverChain is a secure and efficient blockchain secured by a Proof-of-Stake (POS) consensus mechanism. This blockchain provides prebuilt and ready-to-use functionalities for developers to build dApps. As a result, developers can save more time and money when deploying their apps, products, and services on KleverChain than compared to most other blockchain networks.

What is KLV?

This is the primary token of Klever Finance, and it powers all the platforms, products, and services associated with the project. It is used to make p2p payments, for staking, and paying transaction fees and also enables users to participate in new projects via crowdfunding. Additionally, Klever grants reduced swap fees for users holding KLV in their wallets. Holders also get access to VIP tokens.

KLV Tokenomics

Klever has a circulating supply of 3.4 billion KLV and a maximum supply of 10 billion tokens. The current market cap is $106,327,868. Klever also burns a certain amount of KLV tokens determined by the swap fees collected to the swap platform. A total of 5 billion tokens will be destroyed using this mechanism and removed from the KLV supply.

The KLV token will be distributed as follows:

• 20% will be given to the Klever Foundation
• Another 20% will be allocated to team vesting for three years
• 30% will be the initial supply (3 billion KLV tokens)
• Another 30% will go to product development and marketing

What is KFI?

The Klever Finance (KFI) token is the governance token for the Klever blockchain. It was designed to empower a worldwide community to innovate in p2p technologies and boost DeFi products and services. Token holders will have influence and responsibility over the Klever blockchain’s functioning. They will also have total control over all the apps’ protocol configuration (including application fees and other functionalities), and they will also have the authority to approve new apps using a voting system.

KFI Tokenomics

The KFI token is scarce; only 150,000 tokens will be initially mined. The circulating supply is 10,6650,000 tokens, and the total max supply of KFI is 21,000,000 tokens created through a halving process. The token distribution is as follows:

• 26.5% is allocated to the initial supply
• 66.2% will be allocated to mining
• 4.2% will be used for Marketing
• 2.1% will be used as legal fees

News on KLV

Klever has various upcoming projects in their pipeline, including a browser that will be supported on iOS, Android, Mac, and Linux. In line with Klever’s principles, the browser will provide its users with total privacy and support major tokens with the Klever OS.

Is KLV a Good Investment?

Klever offers true self-custody and secure ownership of crypto assets. On top of that, its ecosystem provides a glossary of useful features that improve its users’ security and user experience. However, it must be noted that the cryptocurrency market is quite volatile, so every investor is advised to do extensive research or consult qualified financial professionals before investing in Klever.

Take Action

KLV is available for purchase on both centralized and decentralized platforms like Gate.io. Check the KLV price here and begin trading your favorite pairs.

• KLV/USDT
• KLV/ETH