Review on Kin by francis fernandez
A Consolidated Consensus Blockchain
Kin is a digital currency that serves as a payment mechanism to buy goods and services within the Kik digital messaging platform.
The instant messaging service Kik is a pioneer in the use of virtual currencies in these mass-use applications. Therein lies the importance of Kin within the cryptocurrency market. By trying to attract a greater volume of users who can access electronic commerce quickly and easily; maximizing the use of digital currencies in a fully decentralized way.
This cryptocurrency operates on the Ethereum blockchain; allowing it to inherit the Turing technology necessary to create smart contracts and develop decentralized applications.
How does Kin's technology work?
The Kin ecosystem uses a consolidated consensus mechanism made up of more than 11 servers distributed globally that are responsible for the validation process, the speed of transactions and guarantee the optimal functioning of the network.
The platform keeps the identification of the reliable and independent server computers anonymous for network security. The undistributed servers are kept under the custody and supervision of an official entity that ensures the security of the funds.
Kin integrates users, developers and content creators into the same network to serve as a platform to generate income through the offer of digital services, applications and interactions between all the regulars of the blockchain.
This platform creates a full-scope, digital economic system for everyone who wants to be part of its ecosystem, whether as an expert, user or co-creator
Pros
- It gives the opportunity to all its followers to create decentralized applications.
- Allows users to earn income while enjoying or creating content of their interest.
- Offer rewards to all participants of your platform, whether as a developer, creator or user.
Cons
- The currency cannot be acquired with fiat money.
