KitToken’s main priority will always be to deliver the best service that it can possibly provide. Being a utility token, KitToken currently exists on the Ethereum network. Unfortunately, the Ethereum network is relatively slow, expensive to run, and at times even unreliable. KitToken has therefore decided to take action and seek out a solution to this before services on our network are jeopardised.
Now time for some good news!
KitToken is officially announcing that it will migrate over to the most powerful Distributed Ledger Technology (DLT) in existence — one that is superior to blockchain in every respect. This migration will aid KitToken in achieving resilience, reliability, efficiency as well as lower remittance costs.
This DLT is, of course, none other than Hedera Hashgraph.
Hashgraph is superior to all existing blockchain systems in terms of throughput, latency, security, fairness and governance. Also, unlike blockchain, there is a finality of consensus and controlled mutability. Micro-transactions will also be enabled. In initial tests, Hashgraph has been shown to reach a throughput of up to one million transactions per second.
KitToken has already spoken to the team at Hedera Hashgraph about this and we will migrate to the Hedera Hashgraph platform once Hedera’s mainnet is live. Until then, KitToken will fully involve itself with Hedera’s upcoming testnets and be a truly active participant in the superior DLT that is Hashgraph.
Until this migration happens, KitToken will remain on the Ethereum network.
For more information on Hedera Hashgraph, please see here: https://www.hederahashgraph.com/
For more information on KitToken, please see here: https://kittoken.net/
