Announcing: One Kin, One Blockchain
Kin is on its way to being the most used cryptocurrency in the world. Apps are coming online with thousands of consumers earning and spending Kin every day. To continue to accelerate this growth we are moving Kin off the Ethereum Blockchain and going all in on the Kin Blockchain.
At every stage we’ve quickly learned and iterated to build the best infrastructure for the ecosystem. First, Kin was launched as an ERC20 token on the Ethereum blockchain for its robust decentralization. Then Kin moved to a hybrid solution utilizing both Ethereum and a custom fork of Stellar to incorporate feeless transactions and scale. Now, after working with the fork of Stellar, we will migrate all Kin to the Kin Blockchain to simplify the technology and its connection to exchanges.
What is the Kin Blockchain?
The Kin Blockchain is a federated, decentralized blockchain based on the Stellar protocol, on which Kin will be bought, sold, earned, and spent. It provides the speed and scalability required for large scale consumer applications with millions of users, and the promise of security and stability that is the hallmark of decentralized blockchain technology.
Migrating fully to the Kin Blockchain eliminates the complexity of swaps, removes the confusion created by having two types of Kin tokens, and simplifies the integration process with both exchanges and consumer applications.
What does this mean for you?
For the moment, there is nothing you need to do. For holders of Kin on the Ethereum Blockchain, there will be an easy way for you to migrate your Kin to the Kin Blockchain. For developers with live applications, and for the consumers that use those apps, there is no action needed at this time. Your apps will work just like they do today.
We’re proud of the people working on the Kin Blockchain, and we’re confident that this is the solution that will support Kin on its journey to being the most used cryptocurrency in the world.