Less than a year after the creation of its own cryptocurrency, kik wants to build its own blockchain.
Canadian messaging app is planning to move away from the current blockchain to create one that better suits his purpose to build a new digital ecosystem for users and brands with fast trades—and, ultimately, no fees.
Background: digital currency, keen, was originally created in may 2017 on kik and non-regulatory organizations keen ecosystems of the Fund as a way to increase involvement in own apps CER. It’s also a new way for CFC to better compete with Facebook and Google on creating an alternative to the data-heavy systems currently pumping most of the additional income online ad publishers and other platforms.
Through a process called “splitting” which is when you take the source code open source programs and create another program, generic blockchain will be to chip—how a fork from the blockchain code used for Star blockchain it currently uses. Although it is derived from stellar, custom blockchain kin will have its own code. (And, as a tailored shirt, custom blockchain kin will make for a better fit, not to use one for something else.)
Alexei Frenkel, Vice President of product at keen, said that the creation of a custom blockchain will enable the CIN to work more effectively as it builds ways for users to earn and spend CIN through messaging each other on kik or by interaction with brands and media companies. Then users will be able to buy real rewards and tokens, when Keane was their “initial coin offering for $ 98 million.”
“One of the key things we realized a few months how great the need [for alternative engagement],” he said. “When you look at the data today, we see a huge opportunity to do a huge Internet economy that is more equitable for developers trying to monetize user data or retargeting users more and more advertising, or they have a big problem of monetizing without user fees.”
Kik works with brands Wu kin in an attempt to interact with users in such a way that does not require digital advertising.
This is not the first time a CFC is reduced and the relative of another blockchain. Although the initial coin offering for CIN was built on the Ethereum blockchain, last year the Keane Foundation decided to create a hybrid of blockchain and the movement of operations on the star by continuing to use Ethereum to investors who participated in the ICO.
Although most plan to do kik kin mainstream may seem hypothetical, kik works with brands Wu kin in an attempt to interact with users in such a way that does not require digital advertising. Some brands are already experimenting with relatives. For example, in December, Sperry and Dunkin ‘ donuts as kin in exchange for customers participating in the surveys. (The test results have not been disclosed.)
Last month, it signed a unity, game center software, and Blackhawk network, the company, which establishes compensation programs for the brands. (For example, the user can earn Kean during the game, and then spend it through the company that accepts it as payment through “black hawk down”.)
API Blackhawk will help to simplify the proposals, such as e-codes and e-offers hundreds of partner brands. Some brands, including Domino’s, Nike, gamestop, and Sephora already integration testing kin-with “black hawk down”.
According to Danny fishel, head of partnerships at kin, users feel more motivated to talk with each other and with brands when there is a real world award.
CIN also allows the CFC and other organizations to encourage user may Experienced users, first-time users, or maybe just someone they want to impress. And over time, kin will have its own set of software that is embedded in the way for companies to throw in the code to find the earn and spend opportunities.
“As a rule, users are those that create value download videos, moderating channels, create Content,” he said. “And they often don’t kompensiruet.”
Asked what the blockchain evolutions to make the total value of CIN, the company said that all 10 trillion tokens a kin that will ultimately be in the presence should eventually have the same value. Thus, a marker of kin on the Ethereum blockchain will cost the same as a private blockchain estates.
“Users don’t care which Blockchain you are using just like they don’t care if the application uses java,” said Fishel.