Many people use social networks to get information, communicate and exchange data in unprecedented ways. Digital services to such as chatting apps bring together communications and commerce in new and unprecedented ways. The digital services are becoming essential to our daily life because of the assimilation of its economic value. This is what has motivated the founder and developer of kin to come up with a platform that offers unprecedented benefits to its users.
What is Kin?
Kin is a decentralized ecosystem of digital services. It is envisioned as a cryptocurrency for general use in everyday digital services. The Kin coin is used for all transactions within the ecosystem. The Kin coin is implemented as an ERC20 token as serves as the basis for interoperability with other cryptocurrencies and digital services in the ecosystem.
To establish the value of Kin, it is integrated into the Kik application. Kik is an application that has been a close observer of the growing momentum of decentralized technologies like Ethereum and Bitcoin. It is the first digital services to join Kin. With millions of users, Kik is expected to drive mainstream consumers adoption of Kin by establishing a value for the cryptocurrency. In simple terms, integrating Kin wallet into the Kik app give kin the potential to instantly become the most adopted and used cryptocurrency wallet in the world.
Through an accident that happens in history, today’s dominant digital services are largely organized around an attention-based economy. Digital services have benefits that most people can associate with, the Kin digital communication platform is becoming the most important media in the global economy. The vision of the management of the platform is to provide a sustainable way forward for digital services. The vision is rooted in their belief that a group of participants can come together to create an ecosystem of various tools that can be used for digital commerce and communication that bring a fair and user-oriented model and priories consumer experience for digital services to the market.
How is the Kin Rewards engine deployed?
Kin has a reward engine that is cryptoeconomic structure intended to promote the use of the Kin coin as a common currency. Kin will be introduced into circulation using the kin Rewards engine. It will be distributed among stakeholders by an algorithm that reflects each community. The kin Rewards engine is intended to create a natural incentive for owners of digital services to adapt and become partners in the kin ecosystem.