Review on Kyber Network by Wisdom BOATENG
The Kyber Network project
Kyber Network is still one of the many projects that allows you to exchange or convert different crypto-assets instantly via its blockchain. Based on the Ethereum protocol, KNC is a project that is quite close to 0x. Traditional exchange sites such as Binance or Kraken have the disadvantages of hacking, etc. Decentralized exchanges for their part lack users and therefore liquidity.
Unlike centralized exchanges, transactions are carried out on its blockchain and KNC does not provide its users with an order book. When a user wishes to carry out a transaction, the platform automatically converts the crypto-asset he wishes to use into the crypto-asset he wishes to send. Thanks to many partnerships with different crypto projects, the project has shown its seriousness. However, we must not overlook the project's black spots such as serious competitors, some of whom already have a working product.
Pros
- Fully decentralized protocol
- KNC has experienced strong growth in the year 2020 due to the high demand for DEX. This strong demand therefore led to an increase in the price of the knc token.
Cons
- The distribution of tokens is catastrophic.
- The network must have good reserves.
