Announcing Klaytn’s 2022 Quarterly Tech Roadmap!

Greetings from Klaytn Team!

The Klaytn team has been working hard at all fronts to realize the vision for Klaytn 2.0 and it’s goals for becoming “The Metaverse Blockchain for All”. In this post, we will share the 2022 roadmap for Klaytn’s technology development. The roadmap serves as a plan for Klaytn’s tech team and is subject to change in accordance with the external and internal factors but is intended to be used as our progress map. Nevertheless, in the spirit of transparency, we are sharing with youall of the interesting and exciting details of our upcoming technology roadmap.

2022 Q1 Roadmap

  • We announced the overall direction as well as the blueprint for Klaytn 2.0.
  • To onboard developers familiar with Ethereum more smoothly, we released klaytn core protocol version 1.8.0 with support for the latest version of the EVM and `eth` namespace JSON-RPC APIs, to assure 100% Ethereum Equivalence. By strengthening compatibility, most of Ethereum’s ecosystem toolings and libraries are also seamlessly operational on Klaytn with minimal modifications.

2022 Q2 Roadmap

  • Klaytn will integrate with Wormhole Bridge, one of the most well-known cross-chain bridges, which will enable interchain asset transfers and vastly improve interoperability. By using the Wormhole bridge, assets from chains like Ethereum, Solana, Binance Chain, Avalanche, Polygon, and Terra will be transferable to Klaytn. With the appearance of numerous blockchains, “bridge” technology, which allows inter-chain asset transfers, has established itself as an essential component in blockchain ecosystems.
  • Chainlink, the most popular oracle in the industry, will also be available on Klaytn. Oracles are an essential technology for the growth of the block ecosystem as well as for improved interoperability which allows smart contracts to use external data feeds for secure on/off-chain data flows and application interaction.
  • We will be releasing the alpha version of the Metaverse Package. The Metaverse Package consists of open-source software that allows metaverse builders to use Klaytn’s blockchain technology and toolings for their development, such as scaling solutions, bridges, SDKs, smart contract libraries, wallets, and block explorers. With the alpha version, Service Chains, Klaytn’s L2 scaling solution, will be provided as a package for developers to configure and use the ServiceChain environment.

2022 Q3 Roadmap

  • A dynamic gas price model, which allows gas prices to change in accordance with the network traffic, will be applied for the mainnet. Except for unusual cases of sudden surges in transactions, low transaction fees will apply, leading to better user experience. This will help lessen the gas price burden for average users.
  • In order to improve the stability of our consensus mechanism and follow through on our commitment towards decentralized governance, we will put in place a new governance and new reward system for the governance council members. In Q3, this new governance model will be applied to the Baobab testnet. 
  • We will be releasing the beta version of the Metaverse Package, with most functionalities and open-source components available for use.
  • We will be establishing a blockchain research center through the KIR to conduct world class research in areas ranging from blockchain technology to governance and tokenomics. Our blockchain research center, unlike other research institutions, will put great emphasis on open participation, where blockchain communities or researchers can freely contribute. The research center aims to operate in the spirit of Web 3.0, with research outcomes being made available as academic articles or open-source information. A model for quickly onboarding new researchers will be introduced as well.
  • We will provide a Klaytn Dev Onboarding Kit to assist developers new to Klaytn, so that they can start building on top of Klaytn as soon as possible.
  • Through bounties and grant programs and the Klaytn Dev Portal, we will offer all necessary information and documentation to make it easy for developers to contribute to Klaytn core development and build great services in the Klaytn ecosystem.

2022 Q4 Roadmap

  • We will release the Metaverse Package v1.0, which will allow developers to utilize the complete suite of tools including Service Chains, block explorers, Wallets, SDKs, the Klaytn IPFS Gateway, and smart contract libraries. Using Klaytn’s Metaverse Package, integrating metaverse to Klaytn will become much easier and faster.
  • The new governance reward system will be applied to the mainnet. A stake-based, proportional reward mechanism will be introduced by which all consensus nodes will be given equal rights for block creation, and the Gini coefficient will be abolished.
  • On-chain voting will be greatly facilitated with the governance portal. Governance council members will be able to make suggestions or vote on issues such as updates on the mainnet or approvals for KIR applications with greater ease, the results of which will be published transparently after being recorded on the blockchain.
  • There will be upgrades to improve Klaytn’s performance to over 10,000 TPS, to scale, increase the Klaytn network throughput, and keep network fees low with more transactions being processed per block-second.
  • Different frameworks for analyzing and visualizing Klaytn’s on-chain data will be put in place for users to refer to, serving as a source of useful and insightful information.

The following table is a summary of the 2022 Quarterly Tech Roadmap.

Moving forward, we will be sharing at the end of each quarter a review and plans for the following quarter. We are thankful for each and every one of you that stood by us and showed love for the Klaytn ecosystem. We will be communicating with you more often in the future. Thank you!