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Kin News


A year and a half ago we shared our goal of using the power of crypto to build a more fair world. In doing so Kin would become the most used cryptocurrency on the planet. We outlined a three step strategy to get there: 1. Build a scalable blockchain 2. Launch Kin inside Kik 3. Expand Kin beyond Kik Today there are more than 30 apps where you can earn and spend Kin. In those apps eighty thousand people earned and spent Kin last month. Kin is already on its way to being the most used cryptocurrency in the world. And yet it feels like things should be going faster. I feel the same way. The biggest challenge has been in step 1, building a scalable blockchain. After years of building an economy around Kik Points we looked for a blockchain that could support a currency used by millions of people. We looked at all the options and decided that, while Ethereum wasn’t perfect, it was the best bet at the time, so we started there. We quickly realized just how challenged Ethereum was, with high fees, slow transaction times, and minimal throughput. Instead of waiting for Ethereum to fix these problems we stepped back and looked at all the options. We decided that adding a Stellar sidechain to Ethereum was the best bet. It would give us the robust ecosystem of Ethereum on one side, and the market tested scale and security of Stellar on the other side. But once again it didn’t quite work. The fee model in Stellar was confusing for users. They didn’t understand why they needed a minimum balance to use Kin. And the fees, even though small, were confusing as well. So once again we looked at all the options. Rather than wait for Stellar to change their fee model for Kin we decided the best bet was to do it ourselves, turning our sidechain into a custom fork of Stellar. This is when things started to click. The sidechain was now useable at scale with a fee model that worked for developers and their users. And while the SDK and the services around it were still early, more developers big and small started to come online. Now we just needed to connect our sidechain back into Ethereum. We looked at all the options and decided to focus on atomic swaps. This would allow people to move Kin between Ethereum and our fork of Stellar in a way that would be onside with banking regulation, would allow us to continue to guarantee the total 10 trillion supply of Kin, and would allow us to continue to leverage the security of the Ethereum mining pool. After a lot of hard work it became clear that it was too confusing for a consumer to buy Kin on Ethereum, atomic swap it onto our fork of Stellar, and then use it in an app. Why not just sell them Kin on our fork of Stellar in the first place? This is when we made the decision to go all in on the Kin Blockchain. This was a daunting decision because we would no longer be able to rely on the security and decentralization of the Ethereum blockchain, but instead would have to set up our own network of validators and then migrate all existing Kin onto it. But if we wanted millions of people to buy Kin to use it, we had no choice. So we set up the blockchain, worked with companies to bring their validators online, and started the migration. This stuff is hard. When we started out all those months ago we underestimated just how many technical challenges we would have to overcome. And there have no doubt been other challenges along the way also. We have had to do everything within a regulatory framework from the 1930’s and 40’s. We’ve had some people need to leave the project, sometimes because of their decision and sometimes because of someone else’s. And we have witnessed a global downturn in the sentiment around crypto. But today I believe that the Kin Blockchain is the only blockchain in the world that is ready for mainstream consumer adoption. With that core infrastructure in place we have been completing the picture with the pieces around it. The connection to exchanges, the fiat gateways in apps, the open SDK for all, the connection between apps, the KRE, and a beautiful website to bring it all together. I have never been more excited about the road ahead. Thank you for joining us on this journey. These have been trying times for crypto, and trying times for Kin. But step by step we are getting closer to building a more fair world with the most used cryptocurrency on the planet.

3 days ago

Crypto Mom Hester Peirce Defends Blockchain Startups in SEC Remarks

U.S. SEC Commissioner Hester Peirce, who is affectionately known as “Crypto Mom” in the community, is defending blockchain startups in remarks published by the regulator on Feb. 8. Peirce in her remarks addressed the current regulatory climate for fundraising among blockchain startups, saying: “My antennae will go up when apparently legitimate projects cannot proceed because our securities laws make them unworkable.” She defended utility tokens, suggesting that while many projects begin in a centralized manner, tokens differentiate their fundraising efforts, stating: “When the tokens are not being sold as investment contracts, however, they are not securities at all. Tokens sold for use in a functioning network, rather than as investment contracts, fall outside the definition of securities.” This drew cheers within the crypto community on social media, including a Kin Foundation sub-Reddit where members suggested that her remarks should most certainly apply to the Kin token. (GT)

10 days ago

The second Kin Developer Program is well underway! If you're...

The second Kin Developer Program is well underway! If you're a mobile app developer, apply today and integrate Kin…

12 days ago

The Kin SDK for Unity is now available @AssetStore, letting ...

The Kin SDK for Unity is now available @AssetStore, letting @unity3d devs reward their users in ways that matter to…

13 days ago

@HODLAGUY Hi - you'll be able to store your Kin on Ledger AF...

@HODLAGUY Hi - you'll be able to store your Kin on Ledger AFTER the migration. Details on how to migrate your Kin w…

13 days ago

@XRP_Yachty Kin coins should not be sent to the Kin app on L...

@XRP_Yachty Kin coins should not be sent to the Kin app on Ledger until after it has been migrated to the new Kin B…

13 days ago

@cryptoknight_90 No, Kin should not be sent to the Kin app o...

@cryptoknight_90 No, Kin should not be sent to the Kin app on Ledger until after it has been migrated to the new Ki…

13 days ago

Here's a sneak peak of our app on Ledger! More information o...

Here's a sneak peak of our app on Ledger! More information on storing your native Kin coin to come, but DO NOT send…

14 days ago

Crypto Tidbits: VanEck Refiles Bitcoin ETF, Wall Street Giant To Launch Custody

Contrary to cynical sentiment touted by skeptics of Bitcoin, crypto isn’t dead in the water. As Mike Novogratz, the founder of leading crypto-centric merchant bank Galaxy Digital, “[there’s] tons of activity under the hood.” Over the past week, VanEck & its fellow hopefuls refiled their Bitcoin exchange-traded fund (ETF) application, while Binance and Fidelity made notable announcements that could eventually drive the adoption of blockchain technologies. Yet, there have been a few shortcomings too. Crypto Tidbits VanEck, CBOE, SolidX Refile Bitcoin ETF Application: On Thursday, reports arose that VanEck, CBOE, and SolidX Partners refiled their collaborative Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC), which reopened following a near-five-week government shutdown. It is assumed that the newfound stability of the U.S. government reassured VanEck that its Bitcoin investment vehicle proposal could see approval, catalyzing the document’s resubmission. The proposed investment instrument is still centered around providing Wall Street investors, high net-worth individuals, and notable crypto funds, with a proper, secure, and regulated way to gain exposure to physical, not futures-based Bitcoin. From this point, the SEC purportedly has 240 days to make a final decision on the Bitcoin-centric product. Binance Launches Debit & Credit Purchase Feature: It may be a mere four weeks into 2019, but Binance has already begun to flex its muscles and bare its fangs. On Thursday, the Malta-headquartered company took to Twitter in tandem with Simplex, a crypto-friendly fiat payment servicer, to reveal that its world-renowned trading platform would be accepting credit card and debit card payments. Through a company release pertaining to the matter, chief executive Changpeng “CZ” Zhao, a golden child in the crypto industry, explained that this Simplex integration is intended to aid Binance’s traders, as it will provide them “fast and easy access to crypto, in the most secure way possible.” Through this integration, Binance clients will be able to use their Visa and Mastercard debit & credit cards to buy Bitcoin, Ethereum, XRP, and Litecoin. Simplex purchases will cost the user 3.5% on each transaction, but a flat rate of $10 will be imposed if the transaction doesn’t surpass $285 (or an equivalent amount in another currency). Loses Wall Street Talent:, a San Francisco-headquartered crypto upstart that has historically been centered around consumers, was revealed to have lost Jamie Selway, a veteran of Wall Street turned the head of global institutional markets at the firm. Per a report from The Block, Blockchain, which sports offices in financial capitals New York and London, has begun to shift its institutional business strategy. In a company statement, Blockchain did acknowledge Selway’s value to the company, but then noted that “that segment” has slowed as the “needs of professional [crypto] investors have grown over the last year. And as such, the company determined that it was best if it handed over the institutional reins to more crypto-centric businesspeople, who would be more fit appealing to “crypto-native” firms, funds, and investors. Kik To Challenge SEC Over Regulatory Status of ICOs: According to a statement from Ted Livingston of Kik, the world-renowned social media company, the company intends to fight proposed enforcement action over the KIN ICO, which raised $100 million and wasn’t registered with the SEC. While cynics would claim that Livingston & crew don’t have a leg to stand on, Kik believes that its rebuttal, which is to be filed in civil courts, is valid and could set a precedent for this nascent ecosystem. In fact, Kik’s lawyers even called the financial regulator’s approach to cryptocurrencies “flawed.” Bloomberg Reveals Fidelity May Launch Crypto Custody By March: The Wall Street herd may just be around the corner. According to an exclusive from Bloomberg, which later seemingly corroborated by Fidelity itself, the Boston-headquartered finance giant’s crypto subsidiary, Digital Asset Services, will be launching its flagship Bitcoin custody product by March. The Bloomberg report, which cited three familiar with Fidelity’s operations, claimed that the company has begun to onboard a select set of “eligible clients” for its cryptocurrency custodial program. Mike Novogratz, the aforementioned Galaxy Digital head who once was an institutional hotshot, once claimed that an offering like Fidelity’s regulated, secure, and trusted crypto custody could catalyze a wave of interest from Wall Street’s largest entities. Crypto Exchange Liqui Exchange Folds, Cites Lack Of Liquidity: Liqui, a Ukranian crypto exchange launched in 2016, revealed that it would be shuttering its operations early last week. Per a company release that replaced the company’s homepage, Liqui determined, (ironically enough), that it would be “unable” to provide liquidity for its rema

17 days ago

Video shows Kik CEO discussing ICO pre-sale: “It will become super valuable”

Ted Livingston, the CEO of unicorn-valued social media startup Kik, announced this week he would fight the SEC’s claim Kin tokens qualify as an unregistered security. The SEC issued a Wells notice, documenting their intention to sue Kik, and in response, the company became one of the first to defend its offering of an ERC-20 token, in court. As Livingston steps into battle, it’s worth looking back at the CEO’s public statements prior to the ICO in 2017, which raked in $98 million. In particular, a video from a Q&A event with the CEO recorded months before the token sale shows Livingston making statements seemingly at odds with some of the comments he is making today. The extracts below are taken directly from the video footage. “Will these [tokens] be considered securities under US federal law?” At one point in the video, an audience member directly asks this question. Livingston responded, half-joking: “Turn the cameras off. That’s going to haunt me one day. I hope not. Ooh, I’m already picturing it” He goes on: “Honestly, part of that is...making sure there is utility...There’s huge utility for this. I don’t think that’s a question... I also just sort of fundamentally, philosophically don’t think this is a security. A security is, you own a piece of a revenue-generating entity. Future dividends is where it came from, etc. whereas here it’s like you just literally own an asset, and if demand for that asset goes to zero, then the value of that portion of the asset you hold also goes to zero.” Stephen Palley, a U.S. lawyer based in Washington D.C. and a contributor to The Block, said in an interview that Livingston’s response did “not really show awareness of what constitutes a security.” Under the well-known Howey test, a security is an “investment of money in a common enterprise with an expectation of profits solely from the efforts of the promoter or a third party,” said Palley. Meanwhile, while the token’s “utility” might be relevant, it is hardly the only relevant fact. Livingston may have been treading a close line when it came to price prediction Essentially, the Howey test assesses whether there was an expectation of profit. Today, the company says “Kik did not offer or promote Kin as a passive investment opportunity,” as outlined by their lawyers in the Wells letter response. In the video, Livingston can be heard saying: “We’re gonna put [kin] inside Kik and it will become super valuable on day one, we think.” “Billion dollar asset, right? We’re rolling it in and that’s the exciting thing is, can you build a community this big without a lot of investment? No. I got to convince my investors and convince myself.” “If kin were as popular as ether were today, that 30% [of company-held tokens] would be worth 9 billion dollars, that’s awesome. We’d give some back to [investors]. You invested $50 million, maybe we’ll give you $500 million out of that $9 billion.” “We are using kik to boost the value of kin.” “You win, you make more money, we win, we have that 30% but then we both win because we can both ride the upside of it.” “If those are places that you can earn and spend Kik, and more and more people are earning and spending in more and more ways, the value is gonna go up. The value of our 30% is gonna go up.” “And the coolest thing about it is, the Kin Reward Engine gives away kin every day, and so as the value of kin goes up, the value of this daily reward also goes up...There will always be something getting paid out, less and less [Kin over time] with higher and higher prices.” As the quotes above show, Livingston did appear to believe that the price of Kin would depend on the success of Kik, which might be contrary to arguments made today. Indeed, prior to the sale - and indeed since - questions have been raised over why a firm with substantial venture capital (and an existing platform) was using an ICO to raise funds. Livingston warned against endless returns and provided a detailed use case for the token Nonetheless, Livingston also offered the audience some disclaimers - the grounds on which he is fighting the SEC today. “We cannot guarantee the value of kin,” he said, adding “If demand goes away, the value goes away. You don’t own a piece of any entity. You own a piece of an asset.” Livingston also discussed at length in the video how Kin would be utilised as a currency on the Kik platform for emojis, stickers, and participating in group chats - and ideally, beyond the Kik app. Developers could also earn Kins by building chatbots, rewarded by the Kin Foundation. Today, their lawyers say the company marketed Kin exclusively “as a way to participate in a fundamentally new way for consumers to access digital products and services, and for innovative developers, and their users, to be compensated for the value they provide.” Still, the platform already had Kik points, which operated similarly, but were scrapped after the ICO - replaced by Kin. Whether the video will in fact “haunt” Livingston

17 days ago

We're already rolling out acceptances for the Kin Developer ...

We're already rolling out acceptances for the Kin Developer Program! So far, 11 apps have been accepted and more wi…

19 days ago

Under Fire: Kik Is Gearing Up for a Fight With the SEC

Kik opposes potential regulatory action from SEC, saying its 2017 Kin token sale followed all the right rules

19 days ago

ICYMI, the Kin SDK for Unity launched last week! Now, @unity...

ICYMI, the Kin SDK for Unity launched last week! Now, @unity3d developers can easily integrate Kin. Check out the S…

20 days ago

Applications for the Kin Developer Program are open until Ma...

Applications for the Kin Developer Program are open until March 26, and we're accepting developers on a weekly basi…

21 days ago

Daily Berminal Brief: Bitcoin Crashes To Yearly Low And Kik Is Going After The SEC

The State of The Market - January 28, 2018 BTC: $3,462.27 (-3.30%) XRP: $0.291639 (-5.92%) ETH: $105.14 (-8.15%) After nearly two months of stability, the market crashed today with Bitcoin reaching a low of $3,450. Bitcoin failed to cross $3,600 and bears gained control. Bitcoin has now reached a one-month low and its lowest in 2019. Along with Bitcoin, all of the top 25 cryptocurrencies are flashing red right now. Over $6 Billion was wiped off from the total crypto market cap which is at $113 Billion. Bitcoin could continue to fall and test its support at $3,000 once again. In other news, Binance CEO Changpeng Zhao (CZ) has confirmed that Binance DEX will permit users to retain full control of their private keys when interacting with Binance DEX. CZ tweeted that "Binance DEX will support hardware wallets from day one of launch" and while CZ did not pinpoint which wallets will be supported, a safe guess would be that Trezor, Ledger, and KeepKey will be supported. Also, over the weekend, LocalBitcoins' security was compromised, and users lost nearly 8 BTC (approx. $28,000) to an unknown hacked in a phishing attack. The peer-to-peer Bitcoin exchange has now published a statement that there was a problem with a feature related to a third party software which was exploited. The exchange has been able to find only 6 confirmed cases of affected users. The problem has been fixed, and outgoing transactions have resumed once again. 1) Ted Livingston, the CEO of Canadian messaging app Kik Interactive Inc, has said that he will take the SEC to court over the looming possibility of enforcement against the startup for its 2017 initial coin offering (ICO) for the company's cryptocurrency called Kin. A Kik spokesperson said that the stakes are high for the entire crypto-sector and the representative said that while they are unsure of how the SEC will vote, it's highly plausible that "any enforcement action against Kik, Kin, and the foundation would be detrimental to the entire cryptocurrency industry." Livingston said that ICOs and the SEC are "the thing that everyone in the industry is dealing with, but nobody wants to talk about" and he emphasized the importance of dealing with this issue in order for crypto-startups to "continue hiring, innovating, and competing". Livingston also argued that the SEC's argument that Kin is a security is baseless and incorrect as "Kin was designed, marketed and offered as a currency to be used as a medium of exchange within a new digital economy." 2) Iran could release its state-backed digital currency at Tehran's Electronic Banking and Payment Systems event which is to be held this week, according to an Al Jazeera report on 27th January. The cryptocurrency is expected to skirt US economic sanctions on the country and be an alternative to SWIFT. Russia and Armenia are also to issue a Central Bank Digital Currency (CBDC) as an alternative to SWIFT. Although it is unclear whether there will be a large scale adoption of the crypto-rial, it will be used locally for consumer payments. In December 2018, the United States lawmakers stated that they would sanction Iran's state-backed digital asset. 3) Ripple has launched a new accelerator program for new banks joining the RippleNet. These financial institutions are required to be market leaders in the processing and promotion of transactions on RippleNet. Their rewards will be processed through an adoption market incentive and volume rebates. For the case of an adoption marketing incentive, Ripple will match the marketing costs in XRP or USD of institutions which promote their solutions to their users. On the other hand, volume rebates will provide fees to institutions which reach integration and volume targets before set deadlines. This program has been funded by XRP worth $300 million. (VS)

22 days ago

SEC and Kin Headed For a Collision Course Over Investment Prohibitions

The Securities and Exchanges Commission is to decide whether they are to take enforcement action against Kin over its token sale of circa $100 million. “We’re Fighting Back,” said Ted Livingston,...

22 days ago

Mobile Devs Can Now Monetize Games With the KIN Cryptocurrency

A new software development kit (SDK) released by Unity will allow indie developers to monetize their mobile games with the digital currency KIN. KIN was created last year by the "messaging app Kik and its Kin Ecosystem Foundation." Games that utilize the Kin SDK for Unity would enable players to earn, spend and tip with KIN crypto while playing.

22 days ago

Kik is Getting Ready for the Legal Battle with the SEC

CoinSpeaker Kik is Getting Ready for the Legal Battle with the SEC The company will challenge the U.S. regulators in court over a potential enforcement action against 2017 KIN token offering. Kik is Getting Ready for the Legal Battle with the SEC

22 days ago

Kik CEO Ted Livingston said the Crypto Startup will take the SEC to Court Over 2017 ICO Enforcement

Ted Livingston, the CEO of Canadian messaging app Kik Interactive Inc, has said that he will take the SEC to court over the looming possibility of enforcement against the startup for its 2017 initial coin offering (ICO) for the company’s cryptocurrency called Kin. A Kik spokesperson said that the stakes are high for the entire crypto-sector and the representative said that while they are unsure of how the SEC will vote, it’s highly plausible that “any enforcement action against Kik, Kin, and the foundation would be detrimental to the entire cryptocurrency industry.” Livingston said that ICOs and the SEC are “the thing that everyone in the industry is dealing with, but nobody wants to talk about” and he emphasized the importance of dealing with this issue in order for crypto-startups to “continue hiring, innovating, and competing”. Livingston also argued that the SEC's argument that Kin is a security is baseless and incorrect as “Kin was designed, marketed and offered as a currency to be used as a medium of exchange within a new digital economy.” (RS)

22 days ago

Unity Game Engine Rolls Out Support for Kin Cryptocurrency in Their Games

Kin Ecosystem Foundation and messaging app Kik have come together to launch Kin software development kit (SDK) which will allow Unity developers to support digital asset Kin in their games. The launch is part of the companies' goals of democratizing game development. This collaboration will let Unity developers create, promote, and monetize their games quickly. The launch of SDK will also foster the mainstream adoption of Kin as it will allow P2P transactions for games working on creating social communities and high user interactions. Players of Unity games will be incentivized with Kin cryptocurrency. (KE)

23 days ago

@RobertReiz Hi Robert - Kik first integrated Kin in June 201...

@RobertReiz Hi Robert - Kik first integrated Kin in June 2018, and recently scaled the ability to purchase chat the…

25 days ago

The Kin SDK for Unity (Android beta) is available on the @As...

The Kin SDK for Unity (Android beta) is available on the @AssetStore! Unity devs can now easily integrate Kin into…

25 days ago

Bitmex Report: ICOs Allocated $24.2 Billion in Tokens to Themselves

The team at Bitmex Research has collaborated with TokenAnalyst to take a thorough look at the treasure balances of several individual ICOs on the Ethereum network. The two teams released a report that showed that ICO teams allocated $24.2 Billion worth of tokens to themselves. $80 Billion in Peak Value The Bitmex and TokenAnalyst report goes on to state that this figure has fallen to $5 Billion due to current market conditions. There is also an additional $1.5 Billion of token transfers that has happened away from the ETH addresses of these teams. The report speculates that these tokens were ‘disposed’ of. Also noted by the report is that these tokens would have a $80 Billion valuation using the peak value of each digital asset. $5 Billion From Nothing According to the report, the $5 Billion current valuation of tokens being owned by teams of these ICOs, can be considered as being got from nothing. Based on current illiquid spot prices, the ICO teams still appear to own around US$5 billion of their own tokens, money they essentially got from nothing, depending on ones view. At the same time the teams may have realized gains of US$1.5 billion by selling tokens, based on coins leaving team address clusters. Although this figure may also be an overestimate, as coins could have left the team address cluster for a variety of reasons. Notable ICOs Mentioned in the Report The report went on to highlight the token allocation for the teams of several ICOs. They include Veritaseum (VERI), SingularityNet (AGI), Polymath (POLY), Kin (KIN), Dent (DENT), Gnosis (GNO), Maker (MKR), Telcoin (TEL), IoT Chain (ITC) and QASH. What are your thoughts on the research by Bitmex indicating that ICOs allocated $24 Billion worth of tokens to themselves? Please let us know in the comment section below. [Image courtesy of Shutterstock] Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post Bitmex Report: ICOs Allocated $24.2 Billion in Tokens to Themselves appeared first on Ethereum World News.

a month ago

Applications for the second Kin Developer Program are offici...

Applications for the second Kin Developer Program are officially open! Apply now, and build a killer consumer app w…

a month ago

We’re looking for the next generation of #KinApps to join th...

We’re looking for the next generation of #KinApps to join the ecosystem! Applications for the second Kin Developer…

a month ago

@BTanglay That's correct! Once Kin is available on exchanges...

@BTanglay That's correct! Once Kin is available on exchanges, they will perform a one-way, one-to-one swap between…

a month ago

@jorgearenaspro We'll provide Kin holders with this informat...

@jorgearenaspro We'll provide Kin holders with this information, along with detailed instructions to move to the ne…

a month ago

Join us on Reddit on Monday for a product and tech AMA with ...

Join us on Reddit on Monday for a product and tech AMA with Kin VP of product @thefrenkel, and VP of R&D @lnetanel…

a month ago

We interviewed the creators of @getvisit to learn more about...

We interviewed the creators of @getvisit to learn more about Zool, their new app, and their experience in the Kin D…

2 months ago

Overall Cryptocurrency Market Lands Its Second Day of Recovery

CoinSpeaker Overall Cryptocurrency Market Lands Its Second Day of Recovery From almost dropping into double digits, the total market cap has gained a solid 14% from its yearly low over the weekend. On Monday we could see the evaluation of the cryptocurrency market cap at around $103,370,883,000. From there the evaluation has increased to $ $121,269,503,095 what it seems to be its highest point. 24h volume at the time of writing was $19,236,606,352 with BTC Dominance of 53,7% More and more stablecoin projects have been added to the market, and with the recent downfall of other altcoins, they are getting some recognition. Also, many investors, afraid of the market swings, have pulled out money from other coins, investing in stablecoins instead. The latter is the digital form of fiat currencies and as such provide much more stability. On December 17th Tether entered the Top 5 by market cap and even if it stayed there for a short amount of time, the asset still ranks at 6th as of December 18th. This is excellent news for USDT which was trailed with controversies and lost $700 million of its market cap. At least, for now, it seems the cryptocurrency has managed to stabilize and recover. Bitcoin itself sparked off the rally when it jumped over 10% from US$3,260 to over US$3,600 before pulling back a little. Fears of BTC falling to or below US$3,000 have been very real recently, however it managed to find support at US$3,200 and recover from there. Whether this is the start of a longer-term trend remains to be seen, but a Bitcoin bounce is almost always good news for the rest of the digital assets. At the time of writing the price on CoinMarketCap was $3,738.89. Ethereum (ETH) has also increased around 8% taking it to $102.20. XRP has done even better with a remarkable 18% gain at press time. This has enabled it to expand that market cap gap over ETH again. EOS is the top performer in the top ten by a factor of two, as it surged nearly 30% over the past 48-hours propelling it into fourth spot on the charts. This may be attributed to recent popular activities like the 3-week workshop and hackathon in India and a Global Hackathon in South Africa. Stellar has also had a good day with a 14% climb and the rest of the top ten are in double figures aside from one. Bitcoin SV did not enjoy the big pump as it only made a couple of percentage points. According to CoinMarketCap, BCH was valued at $90.51, with a market cap of $1.5 billion. The coin registered a 24-hour trade volume of $114 million, with a growth of 10.8% in the past 24 hours. However, this could be a momentary growth as the coin was seen going down by 0.32% since then. According to the 24-hour trading volume, Binance reported the highest trading volume of $13 million with the BCHABC/USDT pair. Binance was followed by Upbit, with $9.7 million with BCH/KRW pair. The third position on the highest-traded volume chart was occupied by Huobi, which marked a $9 million trade with BCH/USDT pair. It is true though that crypto market was nearly at risk of dropping below $100 billion in value on December 15. This was the first time since Aug 1 last year that such a scare had occurred. However, since that time onwards the crypto market has recovered slightly as its total value increased. Despite this recent recovery traders are still being pretty cautious toward short-term future of cryptocurrency. Apart from the crypto space, investors in the regular financial sector are struggling to handle the instability within the global financial market because of the volatility of the United States stock market and that of China. For several months at least, it has become highly unlikely that new wave of investors or traders will enter the crypto scene from the traditional financial market giving the digital asset market breathing room. Institutional Interest as the Catalyst for a Recovery We all remember a year ago when cryptocurrencies were surging and Bitcoin was coming off its $US19,288 record high. However, when the end of January came this year, the crash came with it. Bitcoin, and its fellow cryptocurrencies, plunged, but experts say the rapid fall masked some huge developments in the space and they expect Bitcoin & Co to start coming back soon. Apollo Capital partner Henrik Anderson said: “I expect Bitcoin to recover as it’s done many times before. It’s declined more than 85 per cent in the past and it’s recovered every time.” Jack Quigley, founder of FinTech Australia, says he’s seeing anecdotal evidence of a “buying spree” in cryptocurrencies in the last month and large holders of crypto appear to be accumulating again. The experts agree that institutional interest will be the catalyst for a Bitcoin recovery. Anderson also points to evidence such as global investor Fidelity launching a custodial service for digital assets, murmurs from Goldman Sachs and Nomura of doing the same, and the New York Stock Exchange opening the Bakkt digital asset exchange in January. The Bakk

2 months ago

Make like Ethereum and split

Kin needs to prove to the SEC it is decentralized enough to avoid being classed as a security, but it has several hurdles in the way.

2 months ago

We interviewed the team behind @kinnytips to learn more abou...

We interviewed the team behind @kinnytips to learn more about their app and their time in the Kin Developer Program…

2 months ago

“Many projects are focused on the infrastructure. Kin is uni...

“Many projects are focused on the infrastructure. Kin is unique because we’re focused on the application layer.”…

2 months ago

Check out our interview with @popin_app, one of two #KinApps...

Check out our interview with @popin_app, one of two #KinApps from the Kin Developer Program to go live on both Andr…

3 months ago

What Is Bitcoin? Crypto Featured as Category on Jeopardy

During last night’s airing of the popular TV game show Jeopardy, cryptocurrency was featured among the categories contestants could choose from. I’ll Take Cryptocurrency for $1,000, Alex On Thursday night’s episode of the iconic TV game show hosted by Alex Trebek, Jeopardy, cryptocurrency was one of the six categories contestants could select from. In Jeopardy, chosen categories reveal an answer to a query and the contestants must phrase their response in the form of a question. The first answer in the category was “an altcoin is any unit of cryptocurrency other than this one,” with the correct response being “What is Bitcoin?” Next up, was the Daily Double, which had an answer “in 2018, this South American country launched the Petro currency backed by oil reserves,” referencing Venezuela’s native cryptocurrency token. The third answer touched on a “3-letter chat app” that had a similar sounding name as its cryptocurrency token - a nod to Kik and the Kin token that will power the app’s cryptocurrency ecosystem. Up fourth was an answer describing how blockchain worked. And last but not least, the answer “a lawsuit from this rapper killed off the Coinye currency,” pointed to the court case years prior between hip hop icon Kanye West and the Coinye cryptocurrency. West had no affiliation with the project but his likeness was used regardless without his permission, and a legal battle ensued that led to the founders of the project abandoning it. While cryptocurrency being featured on a popular TV show like Jeopardy really has little to no impact on prices, adoption, or other key factors, one cannot discount the value of cryptocurrencies being exposed in an educational manner to the mainstream public on one of the most watched television shows in history. Jeopardy has over nine million viewers per week tune in, and is a household name easily recognizable by its iconic jingle. Even better for crypto, the way cryptocurrencies were presented in a positive, educational manner and not the demonizing tone mainstream media usually portrays cryptocurrencies like Bitcoin. More Ways to Play with Crypto Playing Jeopardy alongside the live contestants and responding correctly in a crypto-focused Jeopardy category would be fun for just about any cryptocurrency enthusiast. But the fun doesn’t need to stop there. Earlier this year, Bitcoin was officially added as a recognized word in the popular Hasbro board game Scrabble. Merriam-Webster, who maintains the official Scrabble dictionary made the addition in September alongside 300 other words including “emoji” and “twerk.” Placing tiles on the Scrabble board spelling out Bitcoin earns the player 11 points. Scrabble points aside, investors betting on the cryptocurrency could potentially earn a lot of money, however, Bitcoin and other cryptocurrencies have been stuck in a grueling downtrend over the last 11-months. Featured image from Shutterstock. The post What Is Bitcoin? Crypto Featured as Category on Jeopardy appeared first on NewsBTC.

3 months ago

Tapatalk To Add Crypto Rewards with KIN

Internet debates tend to generate more heat than light, but your next argument might generate something else: money. Tapatalk, a mobile app which aggregates online forums, has announced plans to integrate the Kin (KIN) cryptocurrency, allowing users to receive tokens in exchange for posting quality content. “Tapatalk users will receive Kin for posting quality content in the app,” the companies said in a joint press release, “and in turn, they can send Kin to other creators on the platform.” Tapatalk says that blockchain technology can bridge the moats separating different online communities, which the company says are typically siloed off from one another - stifling discussion and slowing the spread of ideas. By integrating online forums through an all-in-one mobile app, the company believes it can stimulate more productive online debates. The app is now used for over 200,000 forums, which have a combined user base above 300 million. By integrating its app with Kin, ”we think cryptocurrencies and blockchain will make online forums better,” CEO Winter Wong told Crypto Briefing “Tapatalk’s integration of Kin marks a noteworthy development in our expansion to reach new users and cultivate further engagement within the broader forum community,” Wong said, in a statement. “The mechanics of Kin will surely benefit existing forum users, while bringing new users into the fold of vibrant, active online discussion communities.” It’s also a new showing from Kin, the native currency of the Kik social messaging app. Despite one of the year’s biggest initial coin offerings, the Stellar-based token received a disappointing reception, and declined heavily over the ensuing bear season. After peaking at nearly $1 billion, the token’s total market cap is now worth scarcely $23 million. Tapatalk isn’t the first project to use crypto to incentivize social media postings. Steemit users are regularly rewarded in one of the few truly functional utility tokens, and can also leverage their influence to reward others. Reddcoin and Dogecoin have both targeted online communities, with easy-to-use tip-bots and social wallets for easy peer-to-peer rewards. And the Brave Browser, which incentivizes content creation with the Basic Attention Token, has also announced plans for peer-to-peer tipping in its next update. Tapatalk’s integration with Kin is expected to be complete early in the new year. Paddy Baker contributed original reporting. The author is invested in digital assets, but none mentioned here. The post Tapatalk To Add Crypto Rewards with KIN appeared first on Crypto Briefing.

3 months ago

Mobile Forum Giant Tapatalk Plans to Distribute Kin Cryptocurrency to its 300 Million Users

Tapatalk, a mobile forum application with 300 million users, recently partnered with the Kin Foundation and the deal will see Tapatalk users rewarded with cryptocurrency for the content they post. Currently, Tapatalk hosts 200,000 forums based in 186 countries and Tapatalk CEO Winter Wong said the partnership should bring new users to the platform and reward those who consistently post quality content. Tapatalk users will also be able to tip each other from their Kin wallets. Kin is an ERC-20 token designed by chat app Kik and the company raised $97 million through an ICO held last year. (RS)

3 months ago

Mobile Forum Giant Tapatalk Will Reward its 300 Million Users with Kin Cryptocurrency

Tapatalk, the mobile forum application with an aggregate registered user base of 300 million, has struck a deal with the Kin Foundation to reward its users with cryptocurrency for posting quality content on the platform. Announced on Wednesday, the partnership will see Tapatalk, whose platform hosts 200,000 forums based in 186 countries, seek to build

3 months ago

KIN Coin Trades Uncorrelated to the Broader Markets, Rises by Double Digits

Kin is trading uncorrelated to major cryptocurrencies, rising by double digits while the broader market continues to suffer. Kin has gained 17% in the last 24 hours to $0.000030 on modest volume. Much of the trading is unfolding on Bancor in the KIN/BNT market. KIN is the cryptocurrency of the Kin Foundation and the popular Canadian messaging app Kik. The project started on the Ethereum blockchain but has since made a complete shift to Stellar. The low trading volume accompanying the KIN price rally is taking the wind out of the sails of investors on Reddit. (GT)

3 months ago

Should Ethereum Be Worried About Token Migration?

Although Ethereum is the ICO favored go-to platform, there is a trend emerging towards migration away from its native ERC20 token to home-baked alternatives once projects get underway. Despite Ethereum’s undisputed dominance owing to the ease of setting up ERC20 tokens to facilitate ICOs, issues such as scalability and transaction speed problems, along with network clogging, have had the effect of driving ICOs to look elsewhere for a better solution. Ethereum’s ERC20 technical standard has essentially been used by startups as a kind of incubator, it being the primary tool that allows creating tokens for trading. One of the latest to take this route is the Kin Foundation, which boasts some 300 million monthly users of its Kik Messenger app. A spokesman for the Kin Foundation has explained that the company has been talking to exchanges to allow users that transfer their tokens from wallets to exchanges to forfeit the original ERC20 tokens to Kin’s own native KIN token on its own blockchain, although users can still sit hold their tokens on Ethereum as long as they wish with no time restraint. KIN’s promotional PR suggests “incredible speed and scalability” along with security and scalability after the shift to its own blockchain. The concept of migrating in this way, of course, is not new. Others who have made this move, notably EOS and Tron, also took the migration route away from the Ethereum blockchain which got them up and running. Since the launch of the EOS mainnet earlier this year, EOS have scooped up EOSBet, Medipedia, Tixico, Billionaire Token, Insights Network, WAX and Sentinel Protocol. Justin Sun, Tron’s founder and CEO, said that their shift from ERC20 protects their user’s interests. T-21 days until Mainnet launch! #TRON will be one of the most competitive mainstream blockchains with the most users. We graduated #1 from the ETH platform with 1.08M+ users, more than OMG and EOS combined. ETH was just a prelude. Now for the main act $TRX — Justin Sun (@justinsuntron) May 9, 2018 Sun added, “We will compete face to face with Ethereum, and we have confidence we will build a large ecosystem; a much large ecosystem than the Ethereum.” However, despite such fighting talk from Tron’s top man, the sheer size of the Ethereum blockchain means that it is unlikely that any sleep will be lost just yet for Ethereum backers but migration from ERC20 is a space well worth watching. Follow on Twitter: @bitcoinnewscom Telegram Alerts from Want to advertise or get published on - View our Media Kit PDF here. Image Courtesy: Pixabay The post Should Ethereum Be Worried About Token Migration? appeared first on

3 months ago

Kin (KIN) Announces Full Token Migration from Ethereum to Custom Stellar Fork

The Kin (KIN) project, an Ethereum based project that was launched by the developers of the Kik messaging app, has announced plans for a full token migration from the Ethereum platform to its own custom fork of the Stellar blockchain. Dubbed the Kin Blockchain, the move is done in response to inefficiencies the project experienced on the Ethereum platform including high gas fees and extended transaction times. According to Kin’s Gadi Srebnik, “The Kin Blockchain is a federated, decentralized blockchain based on the Stellar protocol, on which Kin will be bought, sold, earned, and spent.” (JF)

3 months ago

27 apps in the #KinDeveloperProgram are now live with Kin in...

27 apps in the #KinDeveloperProgram are now live with Kin integrations. Check out the newest apps to complete the f…

3 months ago

Stellar Becoming a Preferential Network Choice while Liquidity Rising with Addition on Latoken & CoinGate

The 5th largest cryptocurrency is in the red by 8% at $0.2339 while addition on Estonia-based crypto exchange, Latoken and payment gateway CoinGate raises its liquidity. Moreover, Stellar is increasingly being used by different projects, the last one being MobileCoin and mobile messaging service Kik. 5th Largest Cryptocurrency Stellar on the Move Europe-based cryptocurrency exchange Latoken has announced support for the 5th largest cryptocurrency, Stellar (XLM). Less than 24 hours ago, the exchange made the official announcement on its website stating, “Stellar is a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost.” It also listed Stellar-based token SureRemit (RMT) with trading pairs RMT/BTC, RMT/ETH, RMT/USDT, and RMT/LA. The payment gateway, CoinGate that buy, sell, and accept cryptocurrencies has also added support for Stellar. CoinGate took to Reddit to announce this, “We at CoinGate provide our merchants the way to accept major cryptocurrencies as a payment. So, recently we made a partnership with the exchange provider Changelly. Due to changes, Stellar community can now use XLM token and along other tokens as payment in e-commerce stores that uses the CoinGate payment gateway. So, if you ever stumble across one of our merchants, keep in mind that your XLM is always welcome there. Keep in mind that making payment with XLM is possible, if you spend more than $30.” In another instance, MobileCoin is working with Stellar as it wants to add simplicity to privacy protection and further make it resilient against attacks. Thanks @dmazieres and @StellarOrg for the mention in the IETF draft. We’re elated to be able to contribute to such a great project! — MobileCoin (@mobilecoin) November 13, 2018 Just yesterday, mobile messaging service Kik announced that is moving its Kin crypto platform from Ethereum to Stellar. Ted Livingston, CEO of Kik shared, “We’ve been using Ethereum to date, and to be honest I call it the dial-up era of blockchain.” Moreover, the mission is to make Kin the most used cryptocurrency in the world as Livingstone shares on the release, “One Kin on one blockchain. That’s our vision, and our strategy continues evolving as we work toward building an infrastructure that supports this.” At the time of writing, Stellar has been trading at $0.2339 while registering 24-hours losses of about 8 percent. Having replaced EOS from the 5th spot, this $4.4 billion market cap cryptocurrency is managing the daily trading volume of $114 million. The post Stellar Becoming a Preferential Network Choice while Liquidity Rising with Addition on Latoken & CoinGate appeared first on Coingape.

3 months ago

Kik Messenger Giant Chooses Stellar Over Ethereum for Its Kin Token Launch

CoinSpeaker Kik Messenger Giant Chooses Stellar Over Ethereum for Its Kin Token Launch Despite the initial popularity of Ethereum blockchain, now there are a lot of talks about its disadvantages and concerns about its competitiveness in comparison with other blockchains in some aspects. A number of companies building on Ethereum have already revealed their plans to examine capacities of other protocols with a view to opt for the most appropriate variant. But while some projects are just planning to do it, some others have already done it. For example, Kik. Breaking Up with Ethereum Messenger app maker Kik is currently working on the development of its own cryptocurrency called Kin; and, as it has been revealed, it took a decision to quit on Ethereum and to continue working with Stellar blockchain only. Initially, Kik was launched on Ethereum. It happened when the popularity of ICO was only gaining momentum, and then, in September 2017, Kik managed to raise quite an impressive sum of $100 million. Nevertheless now, Kin’s atomic swap with Ethereum will be closed. Though the date hasn’t been announced yet, the Kin Ecosystem Foundation is planning to offer a tool to transfer Kin holdings off from Ethereum. How Come? Already in November 2017, following a very successful public sale and as a result of concerns about Ethereum scaling issues, there appeared talks about looking for an alternative blockchain for Kin. Later, in December, it was officially confirmed by Kik’s founder and CEO Ted Livingston. In March 2018, Kik revealed its two-chain strategy. The company decided to use both Ethereum and Stellar platforms simultaneously, providing the transfer of tokens across two blockchains via atomic swaps. It was believed that while Ethereum would ensure security, Stellar could guarantee speed of transactions. “The goal of Kin is to create digital sharing economy where everyone is fairly compensated for the unique value they contribute. While Ethereum provides immediate liquidity for Kin holders, it’s not ready for mainstream consumer usage”, explained Livingston. Two months later, it was announced that despite Stellar’s low transaction fees, it was too expensive to place them under the strain of scale. Then Kik decided to introduce some changes and to conduct a fork of Stellar in order to eliminate transaction costs entirely. Kik’s Vision Now Ethereum is in the past for Kik. It’s worth mentioning that the team has an ambitious goal to make its Kin the most popular and widely-used cryptocurrency in the world. This idea is reaffirmed from time to time. Regarding their initiative to say goodbye to Ethereum, Kik’s CEO said: “One Kin on one blockchain. That’s our vision, and our strategy continues evolving as we work toward building an infrastructure that supports this.” According to the Kin Foundation’s spokesperson, users will have an opportunity to make a one-way move onto the Kin blockchain moving their tokens onto the exchanges. Nevertheless, there are no deadlines for users and they are allowed to keep their Ethereum-based tokens as long as they wish. Kik Messenger Giant Chooses Stellar Over Ethereum for Its Kin Token Launch

3 months ago

Daily Berminal Brief: Markets Bleed As Bitcoin Crashes To 12-Month Low Below $5,500

The State of The Market - November 15, 2018 BTC: $5,526.40 (-12.05) ETH: $174.04 (-12.49%) XRP: $0.45326 (-9.03) After weeks of stability, the market experienced a significant crash yesterday, with Bitcoin reaching its lowest point in 2018. Bitcoin touched a low of $5,495, and the last time it was trading below that was in October 2017. Bitcoin's market cap has also fallen below $100 Billion for the first time. Most cryptocurrencies are down by more than 10% in the last 24 hours. The total market cap has crashed to $180 Billion, its lowest in 2018. The exact reason behind the sudden crash is not clear yet. In other news, John McAfee has partnered with art investment platform Maecenas to tokenize a Picasso painting. By tokenizing the artwork, Maecenas claims the painting will become "perpetually inaccessible." Also, the New York State Department of Financial Services (DFS) has issued a BitLicense to the New York Digital Investment Group (NYDIG). NYDIG is now authorized to offer liquidity and digital asset management services to New York residents, and the company's subsidiary NYDIG Trust Company is also permitted to operate as a limited purpose trust company. NYDIG is now the 14th institution to be granted a virtual currency license by New York regulators. 1) Kik has chosen to abandon Ethereum blockchain and will use Stellar Lumens protocol to develop its cryptocurrency called Kin. Kik launched Kin during the 2017 ICO boom, and the company is now planning to close Kin's atomic swap with Ethereum. The messenger app managed to raise nearly $100 million in cryptocurrency in September 2017, but Ethererum scaling issues led the company to search for a different protocol for its cryptocurrency. Kik had developed a temporary two-chain strategy that allowed users to switch back and forth between Stellar and Ethereum blockchain. But now the company has decided to only to use one blockchain. Kik founder and CEO Ted Livingston said, "One Kin on one blockchain. That's our vision." Kik has not set a deadline for the migration but is planning to release a toolkit for transfers in the near future. 2) Chinese mining giant Bitmain has denied reports that its CEO Jihan Wu was removed from its board. A news broke out early yesterday on multiple Chinese sites that Wu, along with several other directors had left their positions. It also said that Wu would no longer have executive power over Bitmain's operations. As Bitmain is set to go public on the Hong Kong Stock Exchange (HKEX), the company claims that its board was only restructured to meet regulatory requirements. It also added that there were no board departures and co-founder Jihan Wu will continue to lead the company as co-chair, along with co-chief executive officer, Micree Zhan. In its Beijing subsidiary, Zhan, who previously served as the chairman of the board, has now become an executive director, and Wu's role has changed from board director to supervisor. 3) According to China's Odaily News, the latest round of cryptocurrency downturn might have been caused by the controversy revolving around Jihan Wu, the co-founder of Bitmain. Some big investors of Bitcoin are reportedly spreading rumors by faking his account, saying that he would fight to the end with Craig Steven Wright(CSW). The two sides currently are in a hashrate competition before BCH's hard fork. CSW said recently in an interview that he would destroy Bitmain with his money, which led to a heated argument between him and Jihan Wu. Malicious investors are using this sensational topic to manipulate the market, which might in some way have caused Bitcoin to crash under $5,500. (VS)

3 months ago

‘One Blockchain’: Ambitious Crypto Project Kin Forks Roadmap [Again]

The developers of Kin, the cryptocurrency created by social media app Kik, have announced that the crypto token will undergo yet another major developmental redesign as they seek to marry scalability with an intuitive user experience. The Kin Foundation revealed on Wednesday that, in a departure from the crypto project’s earlier roadmaps, developers plan to

3 months ago

Kik Selects Stellar for Crypto Token Launch

Kik has chosen to abandon Ethereum blockchain and will use Stellar Lumens protocol to develop a cryptocurrency called Kin. Kik launched Kin during the 2017 ICO boom and the company is now planning to close Kin’s atomic swap with Ethereum. The messenger app managed to raise nearly $100 million in cryptocurrency in September 2017 but Ethererum scaling issues lead the company to search for a different protocol for its cryptocurrency. Kik had developed a temporary two-chain strategy that allowed users to switch back and forth between Stellar and Ethereum blockchain but now the company has decided to only use one blockchain. Kik founder and CEO Ted Livingston said, “One Kin on one blockchain. That’s our vision.” Kik has not set a deadline for the migration but is planning to release a toolkit for transfers in the near future. (RS)

3 months ago

Chatswapditch, a simple, fast, one-to-one chat app by @gifhi...

Chatswapditch, a simple, fast, one-to-one chat app by @gifhip, has joined the Kin Ecosystem! Download the app on An…

3 months ago

Taking a step back from my AMAs

What an exciting time. The Kin Blockchain is scalable, feeless, and about to be decentralized. Developer apps are going live, and big communities are coming online. The world has no idea what is coming, but we do. Ten months ago I started doing monthly AMAs to answer questions about my vision for Kin. At this point the vision is clear, so the only questions left are about specific plans for the future. When Kik? When KRE? When exchanges? I am excited by each and every one of these questions. But when I look at what it will take for Kin to succeed, I think the odds go up by not answering these questions until they are ready to be announced. This is a competitive race, and it’s better to show what we’ve done, not talk about what we’re going to do. So at this point I’m taking a step back from my AMAs. Some people might misconstrue this as me backing away from the project. Don’t let them convince you. Kin is a dream come true, and we are leaning in more than ever. This is a calculated decision to maximize our chance of success. I’m not going anywhere. I’m still a part of this community and will continue to be active in it. We are also exploring ways to deliver more and better content from everyone building with Kin. On behalf of the team, thank you for all your ideas, support, and hard work. We are honoured and humbled to be part of this community. This is just the beginning.

3 months ago

.@Beseech_App's Kin integration is live in Canada and the US...

.@Beseech_App's Kin integration is live in Canada and the US! Looking for a place where local communities can gathe…

3 months ago

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