Bitcoin, Crypto currency, Blockchain

Kik Token: A Token on two different block chains Ethereum and Stellar

Especially in the USA, the popular Messaging App Kik has announced that it will publish its Kin-Token both on the Ethereum, as well as on the Blockchain by Stellar. The project was originally planned to be on the Ethereum Blockchain. In December of last year, Kik has however expressed criticism of the Ethereum Blockchain due to a lack of scalability, and announced a move to Stellar.

How Kik has over his Medium Blog informed, the company is now different. The project is now to be curious to be realized on two blockchains. Ethereum is intended to be used for the liquidity of the token, and Stellar for transactions. In practice, to design the construct so that the App is launched on Ethereum Basis, and the transaction itself but on the Basis of Stellar.

The “exchange” between the two block chains is to be realized using Atomic Swaps, which allow different crypto to exchange currencies block chains. While Kik has created 10 trillion Kin Token in ERC20 Format, there is also a 10 trillion Kin-Stellar-Token. To exist if a time of a Token, for example, as the ERC-20-Token, he can not exist at the same time as the Stellar Token. The Token will be locked “on the other side”, as soon as the ERC-20 tokens leaving the Kik App.

The hybrid development of the Kin-token comes as a surprise, since the company was thinking in December about to move the Token entirely from Ethereum on Stellar, high transaction fees, and slow confirmation times of the Ethereum network plagued. One reason for the use of the Stellar Blockchain for the transactions of the Kin-Token, will certainly be the announcement of Stellar, to implement by the end of the year Lightning. Nevertheless, the possibility of the Kin to take back the Token completely on the Ethereum block Chain, if the Protocol provides a working scaling solution is according to Information from Coindesk.

The Kin Token is to be used on the Kik Messaging App, to be able to digital goods, and in the future, the physical goods purchase. The realization of the project is planned in two steps, for the second and third quarter of 2018.

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