Topic: KIN will be the MOST USED CRYPTO IN THE WORLD by the end of 2018! $$$$$$$$$$$$$$ - page 2. (Read 11324 times)

KIN partners with IMVU

IMVU is The World’s Largest Avatar-Based Social Network

Users spend 55mins a day on it. They generate 15,000,000 transactions monthly spending 10,000,000,000 in their native currency.

50,000 of the users are creators and earn money by making virtual products and selling them.

One of the top grossing apps of the Google Play and Apple Store.

91% Year Over Year Growth on iOS

62% Year Over Year Growth on Andriod

6000 virtual products added to the site daily

Interesting Fact - 70% of users are females. 90% of crypto users are males. This will be a big shift in the crypto space once such a large female populate is introduced to and using cryptocurrency.

Source: https://medium.com/kinfoundation/imvu-and-kin-partner-to-deliver-native-crypto-experiences-in-3d-social-networks-3c1c8089172a

While your statement may have some truth to it, it's by no means the full story. Yes Kik was declining in users and losing it's placement among other chat apps. Yes, KIN was created as an option that could be beneficial to the company. Because of KIN, Kik no longer will have to rely on monetizing via ads or selling consumer data. They own 30% of the supply of KIN. Their main goal as a company is to make KIN as valuable as possible as they will reap benefits from doing so. Kik's fate is in the hands of Kin's success.

This does not mean that it is a "marketing play". They didn't just make an empty announcement in order to pump their stock and cash out on the crypto trend. They've been actively working on building this ecosystem over the last 9 months and have had this plan for years.

Do think these huge partners would get involved with a "marketing play":

Unity - Biggest Game Development Platform in the World

Blackhawk Incentives - Leading Global Stored Value and Payments Provider

IMVU - The World’s Largest Avatar-Based Social Network

Kin will not only exist within Kik. It's going to be integrated in many games via the Unity SDK, integrated within IMVU, and many more large scale partners that will continue to be announced. Not to mention the smaller apps and projects that decide to integrate as well.

Kik will eventually be just a small part of the entire ecosystem. Even if Kik failed to exist and closed it's doors, Kin would continue to thrive.

The KIK messenger was dying and this was their marketing play to bring it back. I highly doubt it will be a token of appreciation. The utility portion is forced and the messenger is a dying application. Telegram, WeChat all these are dominating the space. KIK will have a hard time regaining dominance.

As you may or may not know, Kin forked Stellar's blockchain code as they ran into a few issues revolving around scaling to what they need in the near future. One of these issues was the need for lumens during wallet creation which would be very costly for Kik to cover for it's millions of users and also left the door open for malicious wallet creation. Another issue was it's transaction cap. Stellar is capable of processing many more transactions per second that it currently allows, but to combat spam they've implemented an arbitrary cap. This set's the ceiling at 10tx/s (transactions per second). It's likely the case that Stellar will increase this number themselves, but KIN will need it sooner than Stellar will make these changes, if they do. Running on a forked version of Stellar, they now have full control to make those adjustments at their own will.

Kin's initial test on the public Stellar testnet:

Daily Transactions: 220,000
Transactions per second: 3.6

Kin's initial test on the forked version of Stellar's blockchain (Kin Blockchain):

Daily Transactions: 470,000
Transactions per second: 8.3

Kin's 2nd test on the Kin Blockchain (increasing the amounts of users involved):

Daily Transactions: 1,200,000
Transactions per second: 20


Based on the last test results, the Kin Blockchain has proved it's scalability. It can successfully process 2x the transactions than the current Stellar blockchain (as-is) and can also process more transactions per second than Bitcoin (4-7tx/s) and Ethereum (13tx/s). Also keep in mind that when Bitcoin and Ethereum reach these kind of numbers they will experience extremely slow confirmation times and highly inflated fees. Kin will continue to push the limit of it's blockchain by increasing the number of users involved and ideally increasing the daily transactions and transactions per second even further.

Source: https://medium.com/inside-kin/scaling-kin-blockchain-status-update-ca4f323d3e99

Transactions in ethereum because of its smart contracts was so many and the use of other token. As long as the marketcap doesn't pass bitcoins marketcap it will not be better than bitcoin.
Lets see how this KIN can be like other coins with a fast growing somehow like tron in the coming months.

Here is the most recent Bi-Weekly KIN Update:


"It's time for our routine check-up, otherwise known as our bi-weekly update. You can find the previous one here, where we shared developments in our Blockchain, Ecosystem and Standalone teams.

It's been two weeks and although we didn't become the most used cryptocurrency (yet), some things have changed and improved.

 

Blockchain

ATN experiment: the experiment is going extremely well. The numbers, you can say, exceed our expectations. We feel confident in the scalability and stability of the blockchain infrastructure. We increased the number of users and in return, we saw growth in the number of transactions per day and per second.

I'm not sharing the specific numbers here because tomorrow (Thursday) we'll share a post explaining the ATN test with the most recent numbers. Stay tuned.

Also, in the past, we talked about the development of a swap mechanism (Kin1/Kin2). David - our senior software engineer was able to demonstrate in real time how the mechanism is structured and functions. Bottom line - he was able to show the teams how an ERC20 Kin token was converted to a Stellar KIn asset. Same here - a post is in the works.

Currently, we have 1 staging environment - the one that the ATN is based on. We're building a new staging for deeper internal research (for scalability and security) and also for external indie developer to "play with". Think of it as a playground that will enable testing our blockchain without the risk of interfering with the existing environment.

 

Ecosystem

Last week the Kik Chat product team came to Israel to work on the implementation of the SDKs in their app. Here's what the Kik team had to say on the trip:

"Everyone from Kik felt it was extremely productive and a great relationship builder. From a practical stand point we made a lot of progress on the integration and were able to put our plans down in writing, but what I’m most excited about was the progress we made in our communication and understanding each other (both our teams and processes). I’m confident it will result in more collaboration and openness, and will ultimately result in stronger product offerings from both Kik and Kin".

What's important is now both teams are aligned with next steps and specific product specs. I believe we'll be able to share more details on the integration in the next update.

 

Kinit

The product is now in its second private beta phase (on which you can read more here).

There are two main new features introduced in the app:

• Phone verification: now, users' data is attached to their account, which enables a creation of a backup tool and adds security layers to the app.
• Peer to Peer transactions: users can now send Kin to their friends (assuming both use the Kinit app). You can also reach out to our ambassadors who experience with the app and even used this functionality to send Kin to each other. Kudos.

The team is working on integrating and creating more earn and spend opportunities and making everything ready for the public beta - one you can all be part of.

 

I remember I said an explanation of the supply will be detailed in this update. However, we feel a separate post explaining the Kin allocation and supply is in order and such will be shared next week (between the two large-scale updates)."

Appreciate the follow up post. Ethereum has already passed bitcoin in daily/weekly/monthly transactions. I believe it's been like that for some time now.

I think the crypto world is going to be surprised how fast KIN transactions can grow to a number that starts to compete with the major chains and then pass them completely.

Let me know if you have any questions as you dive in deeper!

We split even that part, let alone Kin, Ethereum is not going to pass Bitcoin in any area. Bitcoin is the safest crypto currency ever and that won't change in current market roles. Big money never transit to another crypto currency that is already in the business. I think Kin focus on passing Eos and Neo type of coins first. Your prediction is too short term, I don't think any big change will happen only in 6 months.

It will show its true potential as it begins to work.That is good news mate for kin holders and i think it has good potential as well especially due to working app, but there were a lot of negative news about kin in the market like the split and conflicts in their team members, i hope it all settled down for the further development and the future success of the project.

I hope so 

A few takeaways from the Kinit App update article:

https://medium.com/inside-kin/the-kinit-app-whats-next-aaf2dd6b8bce



Kinit Public Beta is set to go live Mid July 2018.

"On a business level, we are working with potential partners to provide either earn opportunities or spend offers.

As we learned from the private beta insights, earn opportunities must be available on a daily base and should include a variety of tasks. Therefore, we will go live with at least two partners that provide interesting earn opportunities for our users.

On the spend side, we already have Blackhawk Network joining our ecosystem and we are working hard with other potential partners to provide additional interesting spend offers.

On a technical level, we have three integrations to complete, Blackhawk Network and two more integrations with partners providing earn opportunities. If time will allow us, we will complete also an additional integration on the spend side.

Additionally, we are going to invest time in bug squashing to create a buttery smooth experience in the app. Simultaneously, there will be a range of technical aspects to overcome to be scalable at a rate necessary for all of our users and partners to work with.

On a product level, we are fine tuning user flows based on the beta results and placing some extra icing on top by creating awesome user experiences for the new features to come.

The second phase of the private beta will help with shaping the future of the Kinit app. According to the findings we will make sure the public beta will include the best features and experience for our users. We will share more details on this one in a separate post."

I have a feeling you didn't actually read the post you're referring to...

If you just read the headline (that was created for the sole purpose of bashing Kin), then you might actually believe what you just said. If you actually read the article, you would have noticed that even though Ted did make a similar comment, he wasn't referring to KIN as the headline makes you think. Ted is saying that blockchain technology isn't for everyone. It makes complete sense for projects like KIN that are trying to become the most used crypto in the world, but it might not make sense for every single industry to use blockchain as it's not always going to be a benefit.

KIN is far from failing. Just today they announced they're moving into the 2nd stage of their Private Beta for the Kinit app and will begin their Public Beta around the middle of July.

Source: https://medium.com/inside-kin/the-kinit-app-whats-next-aaf2dd6b8bce

That's correct. Kik Points was used to unlock new themes and smiles. Kin will also be used for the same purpose. However, they'll allow users to create their own themes and stickers to sell on the market. So instead of just Kik creating everything, the users will also be able to contribute. So if you create a great theme, and I want to use it in my chat group, I can go buy your theme with Kin and you will be paid the Kin. So the themes and smiles will turn into a consumer to consumer marketplace where you can earn and spend Kin. Also, they have plans for additional features that Kik Points was never used for.

I would watch this live presentation/demo of how Kin will be integrated into Kik. This will be way better and explaining how it will work.

https://medium.com/kinfoundation/kin-ambassadors-event-2018-kiks-product-team-on-integrating-kin-recap-3-c1c4580478c5

Sorry, replying late, I hope you read the post from the developer behind this project,he says blockchain is unconvincing, he says blockchain has limited use case, after raising $100 million from the space for a platform that has faied to delivered, I am very sure most of these ICO developers don't really understand the illegalities of their actions. He just use people to raise fund for the project

If I'm not wrong kik points were used to unlock new themes and smiles but kik stopped that and now everything is available for free. If kin is implemented, Do you really think people would pay for just stickers? I don't think so.

I'm not sure you can speak for "most users" on Kik then. I'm not just making a random guess. My post is based on years of hard evidence. When Kik Points was running in Kik from 2014-2016 it was seeing on average 3x as many transactions as Bitcoin was during the same period of time. I'm not sure you can really argue that as it's real data from Kik.



Kin is going to replace Kik Points within the Kik app and have even more usage and opportunities than Kik Points ever did. On top of that, unlike Kik Points, Kin isn't just tied to the Kik app. It's going to be integrated into 1000's of other apps. Some smaller, equal in size, or larger than Kik. However, with just Kik alone, based on hard data, it will become the most used crypto in the world (by transaction count) after it's fully integrated.

I'm a kik user but I don't think kin won't be the most used cryptocurrency. Most of the users aren't interested to buy and sell thinks there. People are on kik for just some fun and not to gain knowledge.

Thanks for your insight. I touched on the supply concerns a few times already. I don't see it as an issue. KIN is meant to have a low coin value as that's needed for clean micro transactions.

A 50x rise is a 50x rise. Doesn't matter if you going from $0.0002 to $0.01 or $200 to $10,000. In either scenario you're making the same amount of money in the end as an investor. The only difference is you'll have a larger quantity of the cheaper coin. The demand is typically the key to the equation.

The Kik chat integration and growing use is going to help KIN price rise for sure. However, it is hard to get too much excited about future prices looking at the huge 10 Trillion supply of KIN. It needs a 50x rise just to get to 1 cent.