A fairer financial system
THINGS TO KNOW
Privacity / Verifiable Behavior
You do not need to provide your real-world identity to deploy or interact with a dapp. Smart contracts can be analyzed and are guaranteed to execute predictably, without the need to trust a central authority
An Open Internet
Today we get access to “free” internet services in exchange for relinquishing control of our personal information. KalyChain services are open by default; you just need a wallet. These are free and easy to set up, controlled by you and work without any personal information
A New Frontier For Development
KalyChain and its applications are transparent and open source. You can fork your code and reuse functionality that others have previously created. If you don’t want to learn a new language, you can simply interact with open source code using JavaScript and other existing languages or import smart contracts and applications directly from Ethereum
Censorship Resistance
No entity on the network can block users from sending transactions, implementing dapps, or reading data from the blockchain
Complete Data Integrity
Data stored on the blockchain is immutable and undisputed, thanks to cryptographic primitives. Malicious actors cannot falsify transactions or other data that has already been made public
Isolated
DApps run in a virtual environment known as the Ethereum Virtual Machine; therefore, if the smart contract contains a big bug, it will not hinder the normal operation of the blockchain network
The Internet Of Assets
◉ Asset Issuance & Trading ◉ Central Bank Digital
◉ Currencies (CBDC) ◉ Debt Financing
◉ Digital Identity ◉ Document Tracking
How dapps work
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Applications have their backend code (smart contracts) running on a decentralized network and not on a centralized server. They use the KalyChain blockchain for data storage and smart contracts for their application logic.
A smart contract is like a set of rules that live on chain for everyone to see and execute exactly according to those rules. Imagine a vending machine: if you supply enough funds and make the correct selection, you will get the item you want. And just like vending machines, smart contracts can hold funds in the same way as your KalyChain account. This allows the code to mediate agreements and transactions.
Once the dapps are deployed on the KalyChain network, you cannot change them. Dapps can be decentralized because they are controlled by the logic written in the contract, not by an individual or company.
Decentralized Finance
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These are applications that focus on creating financial services using cryptocurrencies. They offer the possibility of lending money, borrowing, earning interest and making private payments, without the need for personal data.
Always do your own research
KalyChain is a new technology and most of the applications are new. Before you deposit large amounts of money, make sure you understand the risks.
Financial services running on KalyChain have no registration requirements. If you have funds and an internet connection, you're good to go.
There is a whole world of tokens that you can interact with through these financial products. People are building new tokens on top of KalyChain all the time.
The ecosystem has created “stablecoins”, a less volatile cryptocurrency, which allows you to experience and use cryptocurrencies without risk or uncertainty. You can import your stable coins and use them on KalyChain with much lower fees!
The financial products in the KalyChain space are all modular and compatible with each other. New configurations of these modules are continually coming to market, increasing what you can do with your cryptocurrencies.
What makes KalyChain Great?
Once installed on KalyChain, the dapp code cannot be removed. And anyone can use the features of the dapp. Even if the team behind the dapp disbanded, I could still use it. Once in KalyChain, it stays there.
It is not possible to block the use of a dapp or the sending of transactions. For example, if Twitter was on KalyChain, no one could block your account or stop you from tweeting.
Since KalyChain has KLC, payments are native to KalyChain. Developers don't need to spend time integrating with third-party payment providers.
Dapp code is often open and supported by default. Teams often build using the work of other teams. If you want to allow users to exchange tokens in your dapp, you can simply plug in code from another dapp.
With most decentralized applications (dapps) you don't need to share your real identity. Your KalyChain account is your login and you only need a wallet.
Cryptography ensures that attackers cannot forge transactions and interactions with dapps on your behalf. You authorize dapp actions with your Ethereum account, usually through your wallet, so keep your credentials safe.
Once the dapp is up on Ethereum, it will only go down if Ethereum itself goes down. Networks the size of Ethereum are tremendously difficult to attack.
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Benefits of using KalyChain
Build fast, low cost, Solidity-compatible DApps
- Deploy Ethereum-compatible DApps that have the ability to process thousands of transactions per second with instant confirmations at a cost of only a tenth of what they cost to operate and deploy on Ethereum. High smart contract gas fees are now a thing of the past!
Launch public and private customized projects
- Deploy DApps that fit your own company needs. Build your own app or smart contract within the KalyChain network. Take advantage of our courses!
Decentralized finance
- These are applications that focus on building out financial services using cryptocurrencies. They offer the likes of lending, borrowing, earning interest, and private payments – no personal data required.
Continuous improvement
- KalyChain brings a new standard in technology - open and inclusive – to challenge the old and activate a new age of sustainable, globally-distributed innovation.