Kin Ecosystem Reaches One Million Monthly Active Spenders
Over 1,000,000 users have spent Kin in consumer apps in the last month
November 14, 2019 —
The Kin Ecosystem has reached a major milestone as over 1 million users have spent Kin across more than 80 apps, reaffirming Kin as the most used cryptocurrency in the world by mainstream consumers [1][2][3].
Kin is designed to offer a better way to generate revenue from software, based on compelling interactive experiences and user engagement, not extracting user data or charging exorbitant fees. This also allows developers of all sizes to band together to create value around a shared virtual currency, as opposed to feeding into big data monopolies at the cost of user-privacy and trust.
Despite numerous challenges, the Kin Ecosystem continues to grow, with about 14 million users holding Kin and over 1 million having spent it in the last month. Note that this only includes peer-to-peer and consumer-to-business transactions within live consumer apps, which means it does not account for speculative trading, only earning and spending within the Kin Ecosystem. Here are some quick facts about the Kin Ecosystem as it stands today:
- Kin is live in over 80 consumer apps, with over 1,000,000 monthly active spenders.
- When excluding speculative trading and gambling, Kin has the highest transaction count of any cryptocurrency in the world, by far [1][2][3].
- Developers are already generating revenue from the Kin Rewards Engine based on their user engagement [4].
You can follow along with the growth of spending and earning in the Kin Ecosystem at https://www.kin.org/stats.
References —
[1] Chainalysis data shows use of cryptocurrency; May 2019:
“Transactions related to exchanges still accounted for 89.7% of activity[…]”; “This suggests[…]top use case remains speculative, and mainstream use[…]for everyday purchases is not yet a reality.”
[2] CoinMetrics shows Kin transaction counts compared to leading cryptocurrencies; June 2019:
“Separating out Kin payments from account creations gives a somewhat clearer picture. The below chart shows different average daily transaction counts over the last three months compared to Kin’s payment count[…]Kin is near the top of the pack, trailing only EOS. ”
[3] Dappradar shows top apps for other leading blockchains and their uses cases; November 2019:
[4] Basic case study of Nearby; August 2019:
Definitions —
Monthly Active Spender, or “MAS”:
A monthly active spender is defined as a unique account that has initiated a spend transaction within an app in the Kin Ecosystem in the last 30 days.
The “MAS” metric was sought in pursuit of better data, as the standard metrics for cryptocurrency analytics, such as blockchain operations, total active accounts, and speculative transaction data, do not accurately reflect consumptive utility by mainstream consumers. By removing account creations, speculative activity, and earning from the equation, cleaner data was acquired.
