Kaiba Lightning Chain: The Future of Blockchain and Low Gas
Kaiba Lightning Chain (KLC) is Kaiba DeFi’s proprietary blockchain. It will play a central role in the future of our ecosystem and expand on the functionality and savings of other products like KaibaSwap. KLC will boast superior speed and, of course, provide our users with the lowest gas fees on Ethereum mainnet.
KLC is currently being built by our second dev team, in parallel with KaibaSwap, and will serve as the main product that helps power our ecosystem once it is complete.
How does the Kaiba Lightning Chain fit into the Kaiba ecosystem?
As mentioned above the Kaiba Lightning Chain, or KLC, is the current name for Kaiba’s own blockchain. As the “Lightning” part of the name suggests it is being built to be an extremely fast chain, relative to other chains that perform similar functions.
The most important use case for KLC will be the KaibaSwap integration. KLC will boast a throughput (actions in any given timeframe) that is approximately 100x higher than Ethereum Mainnet, and gas fees will be approximately 1000x lower for our users. Our simulations have shown that using KaibaSwap on ERC-20 will be approximately $10USD in gas fees, and on the KLC (native chain) transactions will cost less than a cent.
Users will have the option of both $KAIBA and secondary stablecoin (USDC / TUSD) pairings, which will provide further utility for the $KAIBA token as well as fully integrate KLC into the ERC-20 blockchain. We will also provide users with the option for locked and unlocked stakes, yielding extraordinary APYs.
What will the operating consensus be for Kaiba Lightning Chain?
The KLC-KaibaSwap integration uses a ‘modified version’ of the Proof of Stake (PoS) consensus that operates on the Ethereum network. This will allow for full integration into the ERC-20 blockchain.
One of the things we are doing at Kaiba is looking at younger experimental projects and where they fail, thus avoiding the problems that they incur. Our ‘modified version’ of PoS will function as a Proof of Reputation (PoR) consensus, similar to the Proof of Authority (PoA) consensus that currently exists on a handful of the most efficient chains. This will allow KLC to sustain a speed of approximately 20x what Ethereum is capable of, and without the congestion problems.
KLC will remain a PoR consensus as the network grows, and the number of nodes will be continuously upgraded. Eventually, when the KLC mainnet has been substantiated, we will allow our largest $KAIBA holders to become their own nodes. We believe PoR is the best consensus for security and also to solve the 51% Attack problem; as well, IBFT 2.0 will be more than enough to handle everything moving forward.
Kaiba Lightning Chain will not go live until at least 10 nodes are properly distributed. Initially they will be managed by the Kaiba development team, then once the network is in a comfortably solid state we will allow those with a certain amount of $KAIBA tokens to become a node, adding to the utility of our native token.
As with all technology projects Kaiba will be duly releasing a complete whitepaper with further detailed technical specifications.
For more reading on Kaiba Lightning Chain, KaibaSwap, and the KAIBA ecosystem check out our Medium articles or stop by our Telegram channel to ask our Mods and meet the community. For partnership and commercial inquiries, please contact us directly via email (team@KaibaDeFi.com).
