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.
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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Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
6 Blockchain Predictions For 2019
As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.
While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.
1. Search for new and better business use cases
Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.
Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.
2. Fixing blockchain industry’s image
For a lot of people, blockchain…
TRON DEX Goes Crazy, TRX Founder Asks For More Projects
Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.
So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.
— Justin Sun (@justinsuntron) November 13, 2018
TRON DEX sees massive growth in activity
Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.
While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.
In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…
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