What is Kin Coin? Developed by the Kik Foundation, a Canadian non-profit organization, Kin Coin (KIN) is a cryptocurrency project for decentralized social media. In this article, you can access answers to questions such as what is Kin Coin, what it offers, what is KIN, how to get it, what is it used for. As Kriptokoin.com, we have prepared it for you. Let’s examine the issue together.
What is Kin Coin? What is KIN used for?
Kin Coin, released in September 2017, was developed by the Kik foundation. The cryptocurrency project managed by the foundation is designed for use in various social media applications. Developed on the Ethereum Blockchain, KIN was created with the ERC-20 smart contract. Through KIN, users can get benefits in various apps offered by the company, such as the social media platform.
KIN aims to radically change the economic model of traditional social media platforms. Social media platforms like Facebook generate revenue from user data. In platforms with such an economic model, the share of income for users and content producers is quite low. Kin set out to allow users to join the platform and make income for everyone. The KIN altcoin has several use cases within the network.
Network allows users, content creators and developers to profit in different ways through KIN. In the implementations of the Kin blockchain, content producers are rewarded with KIN based on the amount of interaction. Users can donate to the creators they follow. Developers on the platform receive payment from the project in exchange for user experience creation. The maximum supply of KIN coin is capped at 10 trillion units.
What are the advantages?
- Kik users get paid for the value they bring to the platform and other users.
- Both users and content producers can generate income through the platform.
- App developers are paid by the project for creating a usage experience.
- Kin stands out as an easy-to-use blockchain network.
What are the disadvantages?
- KIN is listed by many exchanges. However, it is not supported by most exchanges with high trading volume. This reduces the adoption and accessibility of blockchain.
- KIN, like other cryptocurrencies, has high volatility. The value of highly volatile assets fluctuates over a wider price range.
How to get Kin Coin?
Currently Kin Coin; FTX is listed by crypto exchanges such as KuCoin, DigiFinex, Bitget, and CoinTiger. Investors interested in the project can become a member of one of these exchanges. Fully registered users can purchase altcoins by depositing a fiat currency such as dollars or lira into their wallets.
19647
