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Investing in KIN: What Future Awaits KIN Holders by the End of 2018

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Nowadays you would find certain cryptocurrencies in almost every existing industry starting from entertainment to education, medicine, social media, and even sports. The concept of using a virtual currency for transaction and payment, which started back in 2009 with only one legitimate currency named Bitcoin, has now proliferated into using nearly eighteen hundred currencies among which circa 1600 coins are used by various traders on a quotidian basis. Every day new ICOs are being tokenized into new digital currencies thereby making the cryptocurrency market even more competitive. Under the circumstances, each cryptocurrency currently available in the market along with new ICO start-ups is trying to provide something unique to their traders.

As social media has become an inextricable part of modern human life, different cryptocurrencies are trying to work this new trend to their advantage. Kin coin (KIN) is certainly one of the most successful names among such cryptocurrencies. This coin was introduced to the traders in September 2017, by Kik, one of the most renowned social media companies in Canada, after raising a whopping 98 million USD in its token sale. The coin is still under constant technical developments which are likely to be completed by the end of this year. Here, you would find out some significant facts about this currency helping you to depict a probable future for the KIN holders by the end of this year.

The Purpose of Kin at a Glance:

Kin coin was developed by the Canadian social media company Kik for the purpose of providing a blockchain platform where content developers and consumers are able to transact directly in lieu of depending on some advertising revenue for monetizing the content creation service. By nature, Kin coin is currently an ERC-20 token. However, the developers of this coin are making upgrades incessantly in order to integrate this currency to Kik app and to make an atomic swap with Stellar token possible for better scalability.

Kin Integration to Kik:

Kik is one of the most popular social media platforms (ranked 7th) and belongs to the list containing big guns like WhatsApp and Facebook messenger. Besides chatting, this platform also allows sharing photos, videos, and other forms of various contents. As per recent statistics, this application has more than 15 million monthly users which majorly consist of people belonging to the age group of 13-24 years. One of the main reasons behind Kik’s popularity is its anonymity feature. The privacy protection protocol on Kik platform is fairly rigid and indecipherably encrypted. Through this integration, Kin’s development team are trying to make the usage of cryptocurrency more familiar to the mass. Kik’s platform holds the reputation of introducing new innovative products successfully to people residing all across the globe. Therefore, it can be expected that with Kin’s integration to this application would certainly increase its circulation throughout the world eventually increasing its popularity.

Also, Kik application has recently implemented a new feature of rewarding the content creators directly. Through this integration, KIN will be extensively used for this purpose and for making other transactions and payments as well.

The Kin Ecosystem Foundation

The Kin Ecosystem Foundation is an independent non-profit governance body for Kin cryptocurrency. It endeavors to be the provider of various tools for digital communication. According to Kin’s whitepaper, the Kin Foundation has three principal goals for fulfilling their mission to become an open ecosystem of digital services and communication. These three goals include:

  • Governance Goals: Establishing a governance system that would cater to the desiderata and complaints of all users using the Kin ecosystem.
  • Research Goals: Developing an ecosystem where new and innovative methods can be tested along with drive value creation and network effects.
  • Development Goals: Development of new tools with ingenious features by engaging in partnerships with various companies in order to make the ecosystem more convenient. The development team would maintain an open source code base for this purpose.

Launch of Kin’s Own Blockchain:

On 8th May 2018, Kin’s development team announced the launching of Kin’s own blockchain which will be based on the blockchain design of Stellar Lumens. The Kin Foundation already leverages the Ethereum blockchain for offering liquidity and security to the KIN holders. Once this blockchain is launched, Kin’s objective to create a hybrid ecosystem would be fulfilled and eventually, Kin’s ecosystem would be able to offer a much faster and more scalable transaction system to their traders.

Kin’s Current Condition:

As of 9th May 2018, Kin’s price is equivalent to nearly $0.00016. Its market capitalization stands at approximately 125 Million USD at the moment, giving this coin the 133rd position on Coinmarketcap. In January 2018, Kin reached a market capitalization surpassing the 400 Million USD mark. Compared to that, the current situation might seem a little bleak. However, since the announcement of Kin’s own blockchain launch, new investors are beginning to take some interest in this currency causing a lasting upward trend.

Final Thoughts:

Both social media and cryptocurrency are becoming indispensable to human life nowadays. Under the circumstances, Kin’s approach of combining both of them is likely to grab the attention of a significant number of people. Also, with 1 trillion coins available, circulation wouldn’t be a problem for this coin. If the development team continues to upgrade Kin’s ecosystem by implementing new features, the current Kin holders could expect for a lucrative outcome by the end of this year.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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