# Ground X

> Ground X is a tech subsidiary of Kakao based in Seoul, South Korea, responsible for developing the Klaytn blockchain, and was founded by Jaesun Han in 2018.

- Canonical URL: https://iq.wiki/wiki/ground-x
- Categories: Organizations
- Tags: Developer, Founder
- Created: 2023-06-15T08:58:26.242Z
- Last updated: 2023-06-28T16:46:42.614Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**Ground X** is a technology company headquartered in Seoul, South Korea, responsible for developing the [Klaytn](https://iq.wiki/wiki/klaytn) blockchain. It was founded in March 2018, in Japan, by [Jaesun Han](https://iq.wiki/wiki/jaesun-han). The company is a subsidiary of Kakao, one of the largest telecommunications companies in South Korea.  
  
  
  
# History  
  
At the beginning of 2018, Kakao officially announced its intention to establish a Japanese subsidiary called Ground X. This subsidiary's primary objective was to oversee the advancement of Kakao's cryptocurrency initiative named [Klaytn](https://iq.wiki/wiki/klaytn).  
  
In late 2018, [Dunamu](https://iq.wiki/wiki/dunamu) expanded its operations to Singapore and introduced the international version of the [UpBit](https://iq.wiki/wiki/upbit) exchange. Around a month later, Ground X, the subsidiary responsible for hosting the [Initial Coin Offering](https://iq.wiki/wiki/initial-coin-offering) (ICO), also expanded its operations to Singapore.  
  
In June 2019, Kakao officially announced its plans to conduct an Initial Coin Offering (ICO) for the [KLAY](https://iq.wiki/wiki/klay) coin, aiming to raise approximately $300 million from private investors in Asia. Following the KLAY ICO, the [Klaytn](https://iq.wiki/wiki/klaytn) mainnet was launched, and it operates as an open-source platform, contributing to the development and growth of the blockchain ecosystem.  
  
# Products  
  
## Klaytn  
  
[Klaytn](https://iq.wiki/wiki/klaytn) is a BFT-based public blockchain that supports the Ethereum Virtual Machine (EVM) and executes smart contracts written in the Solidity programming language that was released in June 2019. Its native utility token is [KLAY](https://iq.wiki/wiki/klay). [\[1\]](#cite-id-oagclno6zdi)  
  
  
## Klip Drops  
  
Digital art curation gallery service that showcases a diverse range of artists, from renowned figures in traditional painting and sculpture to active creators in the realm of subculture. [\[2\]](#cite-id-vyfl30j4c9)  
  
> Our aim is to provide collectors with an easy and convenient experience to appreciate and own digital art while supporting creators in generating sustainable income, fostering a culture where serious exploration can thrive. - translated from Klip Drops website  
  
## Klip  
  
Klip is a digital crypto wallet built on the [Klaytn](https://iq.wiki/wiki/klaytn) and [Ethereum](https://iq.wiki/wiki/ethereum) blockchains. Users can store and exchange EVM-based tokens and NFTs. [\[3\]](#cite-id-wpq7x6ki54)  
  
## Klaytn API Service (KAS)  
  
KAS is a service that enables users to utilize the Klaytn blockchain via API (Application Programming Interface). KAS facilitates transaction-sending operations using REST API or SDK, eliminating the need for node installation, node management, and account key management. It offers the ability to group and organize blockchain accounts based on their purpose. Additionally, it provides easy data anchoring to the main chain through APIs when a service chain is in operation. [\[4\]](#cite-id-pvbixlclhvf)[\[5\]](#cite-id-vmac53vlhxc)