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Kyber Network Progress Report: How Is It Going to Impact the Crypto Market

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Kyber Network
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Kyber Network is one of the most popular cryptocurrency exchanges in the world that offers their own default currency KNC or Kyber Network Crystal to their users. Because of the fact that the entire cryptocurrency market influenced by some big guns like Bitcoin, Ethereum, etc. is in a severely volatile state, a large percentage of current crypto-traders all over the world are looking for some useful alternatives with stability and other features like low transaction and energy consumption. KNC, the cryptocurrency that was introduced during September of 2017 by Kyber Network exchange, certainly falls under that category. Since its inception, this digital currency has been able to maintain a steady upward trend in its market capitalization due to its various distinct features.

By the end of April 2018, Kyber Network has made considerable progress in terms of new partnerships and listing. The news of its partnership with MyEtherWallet and listing on Bithumb, one of the most reputed cryptocurrency exchanges, have been quite well-known to the investors around the world. However, these two phenomena are just the tip of the iceberg of KNC’s recent development. On 29th April, Kyber Network’s team published an extensive progress report of this currency. Here, some of these recent developments will be discussed to give its holders a luculent perspective of how this digital coin is going to impact the market in future.

Technical Developments of Kyber Network:

In the past few weeks, the development team of this coin has been able to make a significant number of upgrades in its various parts. They are:

Developments in Kyber Network Exchange:

The exchange is an inextricable part of KNC and essential for its sustenance as well. As a result, the development took special care in increasing its compatibility in different browsers available all around the world. This would enable a large number of new traders to opt for this currency and start trading without any technical impediment. They are also tirelessly working to ameliorate Kyber Network’s support for currently listed Dai Tokens. In a nutshell, the Kyber Network team was able to complete the following tasks in the past few weeks:

  • Successful compatibility testing of the exchange on Samsung and Brave browsers
  • Successful development of browsing support while Google Translate is active
  • Development of support for new ledger firmware to increase security and
  • Considerable improvement in supporting DAI tokens

Developments in Kyber Network Reserve:

In case of Kyber Network Reserve, the principal focus of the team was on increasing the stability and efficacy of the statistics and rebalancing system. In order to fulfil this technical requirement, the following steps were executed as part of the process:

  • Successful development of support for using Bittrex on top of Binance for better rebalancing
  • Successful application of the new recursive trading strategy for the same purpose
  • Accurate analysis of the price update frequent statistics for optimising gas costs and improving statistics system of the reserve
  • Successful development of a new and ingenious algorithm to discover low liquidity token price
  • Providing support for the accounting department
  • Successful implementation of a new statistical support system to foresee volume and probable user behaviour under certain circumstances

Developments in Smart Contracts

KNC team has started a few innovative smart contract projects for successful implementation of this technology. They are in the process of designing a support system for two new reserve managers which are about to integrate with this exchange. They are also making considerable progress in token-to-token conversion for smart contracts. Alongside their existing one, they are also designing two more reserve smart contracts for better efficiency.

Other Notable Updates:

Kyber Network arranged for a token utility thought experiment last week for its holders to discuss various aspects of this cryptocurrency. As a result, various solutions have been offered regarding issues like implementation of additional token use cases, usage of KNC tokens for paying fees by the reserve managers only and many others. Also, this currency is on the verge of setting up a Vietnamese Kyber Community for its exposure. Vietnam is rapidly becoming one of the major countries in dealing cryptocurrencies and this new community formation is very likely to boost Kyber Network’s price further up.

Current State of Kyber Network Crystal:

Despite being introduced just seven months ago to the investors, this cryptocurrency has been making continuous progress with new features and advantages. As of this moment i.e. 4th May 2018, KNC holds the 61st position on Coinmarketcap with an individual price of nearly $2.51 and a significant market capitalization of approximately 337 million USD. With KNC’s recent listing in Bithumb and partnership with MyEtherWallet, these figures are likely to experience an upward surge shortly.

Final Thoughts:

Kyber Network was developed to offer an invulnerable decentralized exchange and currency to its users. As security is a major issue in current cryptocurrency market because of frequent hacking incidents, Kyber Network’s worldwide acceptance was inevitable from the beginning. With new partnerships and developments, this acceptability and popularity are likely to follow a steeper upward trend. Therefore, it can be certainly inferred that the future outcomes of the aforementioned upgrades are going to be genuinely satiating for KNC holders and the cryptocurrency market in general.

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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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