Kik’s App Kin token Is Going To Use Both Cryptocurrencies Blockchain
Kik’s App Kin token Is Going To Use Both Cryptocurrencies Blockchain. Two blockchains getting into one token. The social messaging app Kik has announced that its going to do this with the Kin coin which allowed the company to raise into the 98 million dollars in the ICO which had done on September. After the ICO the Kik company want to launch its crypto token. The company want to launch token with the use of Ethereum for liquidity and stellar for the transaction. All the crypto traders knows that Stellar costs less for the transactions fees while Ethereum has 3.4% of its coins in the ICOs.
Kik’s App Kin token Is Going To Use Both Cryptocurrencies
The company had taken decision just after the few months of the announcement done in the coin desk that Kik is thinking to move with crypto tokens with Ethereum and Stellar which cost less amount of money for the transactions and slow confirmation time.
At the past the CEO of Kik company Ted Livingston has said that Ethereum is dial up era of blockchain but today the Ethereum has brought itself to the land from all the ocean full of complaints about being the second largest cryptocurrency in the crypto market.
As such users may imagine that Kik’s token will be split into two equal parts one is for the stellar and the other is for Ethereum by the use of atomic swaps. In progress the half part belongs to the stellar and the other half to ERC-20( The standard ethereum amount for crypto tokens) while half leaves the app and vice versa.
In a press meet the CEO of Kik said that ” Creating bidirectional blockchain with stellar and ethereum while drive mass adoption of kin by providing less amount of fee and faster confirmation times of the transactions.
Kik company has saw that almost 10,000 people are participating in token sale from 117 countries. Kik do have much enough popularity in the android and apple stores.
The Theme Behind Launching Tokens Of Cryptocurrency
As per kik company the launch of crypto tokens is about the allowing the users of its site to buy digital goods and later allow to buy physical good by using the crypto tokens. users that have medium exchange do have a better experience said by tanner philip the director of corparate of Kik company.
To make the token connect with two block chain system Kik is using the atomic swap technology which is being a viral topic this year. The developers of the tokens are trying to allow the users to trade the tokens across the blockchains.
The atomic swap technology basically involves that locking the tokens on one blockchain and creating on the other. The kik company is planning to fix the total supply to 10 trillion.
The Kik users can earn and spend the tokens the latter only on the sticker packs and digital arts which are used within the chats.
The sunglasses manufacturer shivas accepted that they will accpet kin as payments. This is the initial response for the Kik company tokens.
Kik company has commited to complete the integration in the second or third quarter of 2018. The kik users can later earn and spend the tokens in the Kik.