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Kin (KIN) To Fork from Stellar and Create Hybrid Solution With Ethereum

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In an attempt to scale the Kin (KIN) cryptocurrency to increase transaction speed and processes on the blockchain, the team at the Kin foundation have decided to fork from the Stellar blockchain that the currency is currently on. The announcement came on Tuesday, May 8th, and was as a result of months of deliberation form both the Kin and Kik developers.

With the Kik Messanger as the starting point through a complete product, the Kin developers hope to tailor fit Kin into the product by having a one of a kind solution. The solution would involve a hybrid system of Ethereum and Kin’s own fork of Stellar to benefit the project in the long term.

Initially and due to the scalability issues in the ERC20 Platform of Ethereum, the Kin developers had opted to have their token on the Stellar Network. With a similar hybrid design, the token would run in parallel on the Ethereum and Stellar Networks. This meant that the system had the speed of Stellar and the liquidity of Ethereum.

However, due to different roadmaps and goals between Kin and Stellar, the Kin Developers have decided to fork from the blockchain and still retain the working relationship with the Stellar organization. The new blockchain will still run in parallel with that of Ethereum.

Having Kin on two blockchains comes as a revolutionary idea that has been adopted by very few projects out in the Crypto-verse. The only other project that is known to have two blockchains, is Bankera that ran both the ERC20 and NEM Mosaics for its ICO that recently ended. In the case of Kin, the two blockchains do not necessitate the duplication of tokens at all. Internal transactions with a single service will most likely utilize the Stellar platform whereas external payments and exchange volume will occur on the Ethereum platform.

Kik developer, Gadi Srebnik had this to say about the parallel networks back in March:

“While Ethereum provides liquidity for Kin holders, its load times and fees can’t support our needs for day-to-day consumer use. The addition of Stellar as a second blockchain will allow us to operate the Kin Ecosystem on a faster, more efficient foundation, with low transaction fees — which is necessary for us to achieve the speed and scalability that digital services in the ecosystem will require.”

The ultimate goal of the Kin Foundation is to eliminate transaction fees on the Kin network thus enabling micro-transactions which will accelerate the usability of the coin and eventually make it more popular than any other crypto in the market.

The current market analysis puts Kin (KIN) at a value of $0.000186 at the moment of writing this. The token has dropped 25% in the last 7 days with most of the decline occurring before the UpBit news that has shattered the crypto markets. The crypto exchange has been accused of cooking its books by South Korean Officials and is undergoing investigations.

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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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