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Klaytn Proposes to Merge the Klaytn and Finschia Blockchains, KLAY Surges by 30%

Twitter icon  •  Published il y a 3 mois  •  Hassan Maishera

The Klaytn team has submitted a proposal to its community in a bid to merge its blockchain with Finschia, resulting in the creation of Asia’s largest Web3 ecosystem.

TL;DR

  • KLAY is the best performer amongst the top 100 cryptocurrencies by market cap, up by 30% today.

  • The Klaytn team seeks to create Asia’s largest blockchain ecosystem by merging Klaytn and Finschia blockchains.

Klaytn Seeks to Merge with the Finschia Blockchain

The Klaytn team announced via X on Tuesday, January 16th, that it has proposed to merge the Klaytn and Finschia blockchains. By doing so, they hope to create Asia’s largest Web3 ecosystem.

Klaytn is a public blockchain developed by Ground X, the blockchain arm of Korea’s internet giant Kakao, with 50 million users worldwide. Meanwhile, Finschia (FNSA) was rebranded from LINK (LN), a blockchain developed by the global messenger app company, LINE Corp. 

The team said the proposed merger will bring together South Korea and Japan’s leading blockchains to form an ecosystem of over 420 DApps. The new blockchain will inherit Klaytn and Finschia’s integration with Kakaotalk and LINE, creating a user base of over 250 million across Asia.

Klaytn has already submitted the proposal and is urging its community members to vote. In its proposal, the Klaytn team said,

“The ecosystem integration will be conducted in a way that maximizes synergy between the two entities. The powerful networks of Klaytn in Korea, Singapore, and Vietnam will be combined with Finschia’s strong presence in Japan, Taiwan, Thailand, and Abu Dhabi. In doing so, we will enable interoperability between Klaytn’s DeFi and gaming services, and Finschia’s NFT, payment, and AI services. This merger of Finschia and Klaytn is expected to create new Web3 infrastructures and enhance the scalability and liquidity of tokens in major Asian countries.”

This proposal has seen KLAY, the native coin of the Klaytn ecosystem, surge by 30% over the last 24 hours, making it the best performer amongst the top 100 cryptocurrencies by market cap.

Meanwhile, FNSA, Finschia’s native token, is also up by more than 22% in the last 24 hours and is currently trading at $34.62 per coin.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.