Messenger Kik Leverages Ethereum and Stellar Blockchains to Launch Kin Token
Messenger developer Kik, last September of the year attracted $ 98 million through ICO for launch his Kin token, found a compromise solution between blockchains Ethereum and Stellar. According to CoinDesk, the Kin token will exist in two blockchains at the same time.
Originally Kin was issued as an ERC20 token on the Ethereum blockchain, however later the project management concluded that him the bandwidth is insufficient, and stated, what can give preference decision by Stellar.
According to new plan, the Kin token will be split into two parts, each of which will exist on its own blockchain. Ethereum in this case will be used for securing liquidity, and Stellar deals with transaction processing. Using atomic technology swaps, the developers intend to block part of Kin on the Stellar blockchain when user will be interact with the ERC20 token, and vice versa.
“Creature bi-directional blockchain with Stellar will spur the massive adoption of Kin by providing more prompt confirmation transactions, low fees and scalability “, – explained CEO Kik Ted Livingston.
Kin token will be used for shopping digital goods on the platform, and in the future also material goods. According to many industry representatives, Kin will be the first experiment to test whether cryptocurrencies in their current form to wider distribution.
In future, if Ethereum developers will present an effective solution for scaling their own blockchain, Kin leadership can refuse by Stellar, but today such a decision seems to him most optimal and flexible.