AMA Recap – Klatyn x WhaleCoinTalk

Klaytn is a visionary project that aims to help web2 giants transition into web3; contributing towards the rapid mass adoption of the decentralized web or the web3. The AMA started with a brief introduction of the team members and their background, giving a sneak peek into the spirit behind the project and their driving force.

According to the core team at klaytn, web3, which stands for the decentralized web would be an internet that would not be controlled by the dominance of the monopolies but by the vote of the people. Therefore, it would be a Layman’s analogy if we try to visualize web3 at the current moment, as web3 would be a progressive internet, changing every day according to the need of the users.

Klaytn Protocol helps bridge this gap between user demand and the existing internet by helping the web2 giants transition into web3. The following piece of content is a summary of our community’s talk with Klaytn protocol condensed in a concise way to help you catch up with the AMA!

Key Takeaways From the AMA

In order to provide you with a better insight into the project the key takeaways from the AMA can be summarised as:

• Role of NFTs in Web3: NFTs are one of the most under-rated technology in the current times which can be used to improvise web2 to take it to the next level. NFTs have inculcated a sense of ownership and value of data in masses, if introduced on a broader scale NFT applications can be the first clear implication of web3 values.

• Importance of Decentralization: With the growing awareness of data privacy and the value of personal data in recent times, the demand for decentralization is at its peak. Addressing users’ concerns over data privacy and ownership, most of the web2 giants have welcomed the concept with initiatives aimed at transferring the ownership of data to the users. This helps users say in control how they interact with the internet and how the internet affects their life.

• Klaytn is a Sustainable: Klaytn protocol has always focused on implementing scalable solutions to its products. Which in terms has helped the project be agile and capable of serving the needs of the evolving market conditions. The products developed by Klaytn Protocol offer easy onboarding for everyone, helping attain a smoother transition to web3.
• Why do we even need Web3 social media platforms: From a user experience point of view the big giants are doing great on paper, ensuring a healthy and bias-free environment for all. But, there is a huge scope for improvement in the decision-making of these social media platforms, which when addressed through DAO become more user-friendly.

• Klaytn keeps building in silence: In the current market situation where most of the projects are struggling to survive, Klaytn has observed some great developments making things really interesting for them. The project has recently rolled out various partnerships with multiple oracles and other third-party tools in order to provide a smoother experience to its users.
• Expansion Plans: The project has recorded huge growth in its userbase in recent times because of its revolutionary web 3 solutions. Also, the team plans to incentivize projects to help accelerate the expansion of the protocol leading to the rapid adoption of web3 fundamenta