Presentation and definition of the crypto-currency Kyber Network (KNC)
- Name of the crypto-currency : Kyber Network
- Acronym : KNC
- Where to buy KNC ? Binance
- Creation Date : September 2017
- White paper of Kyber Network
- Web Site Kyber Network
The project Kyber Network
Kyber Network is a project which will begin in February 2018. During the pilot project, only the contributors to the ICO (Initial Corner Offering) will be able to access the platform. The network will deploy on the blockchain Ethereum and the developers want to first check the stability to be able to give access progressively to the other users.
The support of Ethereum
Vitalik Buterin, creator of Ethereum gives officially its support to the network. Kyber Network thus becomes one of the only projects of virtual currency supported by Buterin, who joined the network as a consultant.
The operation of KyberNetwork
The system Kyber
KyberNetwork is a new system that allows for the exchange and conversion of assets digital. The protocol offers a payment system and a new wallet that allows any user to continually receive tokens of any currency. Each operation is secured thanks to a smart contract. The performance of this contract is decentralized, it does not require the intervention of a trusted third party. Kyber Network allows transactions to be instant, without delay. The user receives his or her tokens as soon as the transaction is recorded in the blockchain. The technology of Kyber is compatible with the smart contracts already existing.
The tools Kyber
Kyber allows you to convert and exchange the tokens instantly. The user can pay any other member by using any tokens, the system takes care of the conversion between currencies. Thus, Kyber also receive payments in Bitcoin and other crypto-currencies indexed on the Ether.