Kin is the cryptocurrency associated with the Kik mobile messaging app, launched in September 2017 as the digital currency for transactions on the app. The Kin ICO price was $0.00011. The price has risen and fallen in the past two years, mainly due to the crypto winter that plagued the blockchain industry last year. A directly proportional relationship observed between the pattern of the Kin cryptocurrency price and that of Bitcoin. The management of the author company has maintained that Kin is similar to other digital currencies that can be earned and spent in apps like Candy Crush Gold, and Line coins. However, Kin is different from the others since it is convertible to real money by buying and selling. It is also similar to Bitcoin, being an application of the public blockchain.
What are the essential things to note about Kin?
The creation of Kin birthed out of the desire to make available a Universal digital currency for all apps. A team of developers develops the Kin by modifying the Stellar code. It boasts of universality and decentralization and has a promising future. As it stands, Kin is successfully beginning to gain awareness, even amongst people who do not trade with cryptocurrency. It will be the first of its kind to use a lot of platforms, being used by many more people that use Bitcoin today.
Why is Kin different?
The uniqueness of Kin stems from the organized approach to its design. Unlike Bitcoin, which you cannot link to any corporation, Kin is a product of a skilled development team from a registered non-profit in Israel, Kin Foundation. Also, Kin puts app developers, users, and capitalists in view. Usually, app developers are encouraged to create apps in which allow the use of Kin. Kin is released over time by a Kin Rewards Engine, which studies user behavior in the app. The forces called demand and supply directly influence Kin price. The more time a user used on the app and tasks carried out, the higher the propensity for the release of the tokens. The users earn Kin for staying active, and the app developers also reward themselves with Kin. The app developers, in this case, replace the miners associated with Bitcoin, thus bringing every developer to a roughly equal ground that rewards everyone for their efforts, and collaborations are encouraged.
However, app developers have to look for ways to earn returns on the time and resources invested in developing the apps, as is seen ion fees, ads, etc. Kin will help app developers make from their apps without having to compromise their user experience. Kin is prepared to revolutionize the digital currency ecosystem.