Review on Kyber Network by francis fernandez
Kyber Network- revolutionizing liquidity in the markets
Kyber Network is a blockchain protocol that aims to integrate the largest amount of blockchain network to generate liquidity to different platforms of the ecosystem.
To carry out this integration, Kyber Network will start from the central Ethereum chain; that allows to send tokens from this network to other blockchains.
The mission of its developers is to obtain the benefits offered by each of the main blockchain networks to solve the problems of interest of electronic commerce users, taking advantage of the particular characteristics of the infrastructure of each existing digital platform in the crypto market.
This project focuses on the development of 4 key pillars:
• Develop an interface for each type of reservation.
• Liquidity and on-chain conversion rates: This is achieved through a network of smart contracts; which will allow entering the protocol of different decentralized applications and also decentralized Finance (DeFI).
• On-chain conversion feasibility: So that any institution can be a liquidity provider; as long as you have a standardized booking interface, which will allow users to automatically log into those sources.
• Design of a single point of liquidity to generate multiple token operations in a single transaction.
Currently, Kyber Network provides exchange services for around 50 Apps, thanks to its integration with Ethereum.
There is no doubt that Kyber Network is the pioneer in trying to achieve integration between all liquidity blockchains that allow network users to select the most convenient smart contract (swap).
Pros
- Allows users to select the most convenient and profitable swap.
- It brings together in a single platform several of the liquidity options of the blockchain network.
- It is connected with more than 50 applications.
Cons
- At the moment it only works as a liquidity bridge for Ethereum, although its mission is to cover a range of blockchains
