Kaia Public Chain: The Blockchain Layout of Asia's Social Media Giant

The Kaia public chain has recently become the focus of attention in the crypto market due to a significant surge in its token price. As a blockchain network formed by the merger of South Korea's Klaytn and Japan's Finschia, Kaia has been committed to enhancing technical performance and expanding its ecosystem since its launch in August 2024. Recently, Kaia's actions in the stablecoin and payment sectors have sparked heated discussions among industry investors.

The senior management of the Kaia Foundation publicly stated, "The Kaia stablecoin is coming this summer," hinting that its fiat-backed token plan is about to enter the implementation phase. With the new South Korean government's support for policies to issue a won-backed stablecoin, the Kaia team announced plans to collaborate with multiple super apps to launch the won stablecoin. This news has driven up the prices of related concept stocks, and the price of Kaia tokens has risen from about $0.10 to a peak of $0.17, reflecting the market's optimistic outlook on the prospects of local stablecoin projects in South Korea.

However, Kaia's stablecoin project still faces numerous challenges. The first is regulatory compliance issues, including considerations of monetary sovereignty and anti-money laundering. Secondly, the issuance and redemption mechanisms of the stablecoin have yet to be validated. In addition, several potential competitors are also targeting this market opportunity. Several large banks in South Korea have publicly announced plans to jointly issue stablecoins, bringing direct competition to Kaia.

The advantage of the Kaia public blockchain lies in its strong support from social media. Kakao Talk has about 50 million monthly active users in South Korea, while LINE dominates markets in Japan, Thailand, and Taiwan. Together, these two platforms have over 250 million users, providing a large potential user base for Kaia.

Technically, Kaia inherits and optimizes the IBFT consensus framework of Klaytn, claiming to handle up to 4000 transactions per second, with a block generation time of just 1 second. The network design supports over 50 nodes participating in consensus, balancing throughput and decentralization. Kaia also supports features like account abstraction and fee delegation, integrating identity and payment channels from LINE and KakaoTalk, simplifying the user experience.

In terms of ecological construction, Kaia integrates the application ecosystems of Klaytn and Finschia, covering multiple areas such as DeFi, NFT, game finance, and physical assets. Official data shows that more than 420 decentralized applications and game services have been launched or are planned to be launched on the Kaia network. Kaia has also launched a builder support program to provide funding and resource support for promising Dapps.

Kaia is gradually expanding from the gaming sector to financial services and general applications. Earlier this year, Kaia launched a USD stablecoin yield product on the LINE platform, with plans to introduce more DeFi protocols in the future and achieve seamless conversion between Korean Won and stablecoins. As Tether deploys USDT on Kaia, Kaia's position in the international stablecoin ecosystem is further enhanced.

Overall, Kaia is actively building a platform-level ecosystem and promoting the usage scenarios of "messaging as the entry point, on-chain as the payment" in collaboration with partners. Although facing challenges such as regulation and competition, Kaia is expected to occupy an important position in the Asia Blockchain market, thanks to its social media background and technological innovation.