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Stellar Lumens [XLM]’s technology welcomes Kin Foundation – Another step towards building partnerships

Sthuthie Murthy

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Stellar Lumens [XLM]'s technology welcomes Kin Foundation - Another step towards building partnerships
Source: Pixabay

Stellar is set to welcome Kin foundation as part of a new relationship in place. Kin Foundation tweeted regarding the same:

“We are excited to share more info on this huge step forward for Kin’s functionality and accessibility.”

Kin believes that using a high-speed, high-scale blockchain is key to making it the ideal asset for everyday use. Welcoming Stellar on board is a huge step ahead for Kin’s infrastructure, functionality, and accessibility for digital services.

Kin Foundation's comment of Stellar's tweet

Kin Foundation’s comment of Stellar’s tweet

Kin Foundation also replied:

“All the Kin transactions previously were taking place on Ethereum (ERC20), stepping forward, and the transactions will happen on Ethereum or Stellar. The two blockchains will support Kin in different ways with services operating on the blockchain that is best suited to their needs, as Ted discussed in a recent AMA.”

Ethereum gives liquidity to Kin holders but the loading times and fees are not supporting the needs for the day-to-day consumer use. The addition of Stellar as a second blockchain will enable faster, more efficient foundation, with low transaction fees.

This can be referred to as a migration more than software update because Kin will run side-by-side on both Ethereum and Stellar. This means users will not have to move their tokens away from Ethereum if they don’t want to.

The change will simply create a more frictionless experience for using Kin as per the two-phase plan. The Kin Ecosystem participants will use the same Kin token irrespective of Ethereum or Stellar Lumens. The only difference is the underlying infrastructure.

Stellar Lumens [XLM] is currently trading at $0.2411 while Ethereum [ETH] is at $543.25 as seen at press time.



Kin Foundation will be governed by an independent board, and over time, ensure the transition of the Kin Ecosystem into a fully decentralized network that provides choice and incentives for the user.

Steven Hawks, a market analyst says:

“So the capitalists, as you call them/us, who hoped for some movement in price after the integration of kin in Kik, and the txs that accompany this will not profit in Phase 1? Do we have to remain patient?  Well, hope I missed the clue, if not, unexpected move/disappointed fan.”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

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Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





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