Hello and welcome to this blog post about Kin White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Kin white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Kin (KIN).
I can ensue you that, you will be able to understand every bits and pieces related to Kin (KIN) after going through the Kin white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
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Kin White Paper
Kin white paper will be going to provide you, all the information that is needed to get started with Kin (KIN), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Kin (KIN).
Kin is money for the digital world. People around the globe, regardless of their financial status, can earn, spend, and transfer value across an entire ecosystem of applications and services. Kin is rewarded to software developers via the “Kin Rewards Engine”, a system by which the currency enters circulation as a reward to the developers who create compelling use cases for the coin, based on their user engagement. Kin is the only cryptocurrency that rewards developers for creating utility and driving adoption, with an incentive model designed entirely around the concept.
That means that developers and users are now re-aligned, as developers can now make money by rewarding users and encouraging them to transact freely, not selling their data to competitors. This liberates consumers from the data-hungry and intrusive tactics of extracting value employed by big-data monopolies, and allows developers to focus on creating great software, not taking value from users. Running on decentralized infrastructure maintained by independent operators, Kin is a cryptocurrency, which means that balances are maintained across “distributed ledgers” of accounts so that the supply cannot be manipulated, and users control the keys to their own funds via cryptographically secured wallets.
The currency also has a limited, maximum supply, the units of which can never be duplicated, or “double-spent.” Kin is the product of years of research and experimentation with virtual currencies, brought to life by a company that was on the front-line of needing a new way to monetize.
Started in 2017 by Kik Interactive in Ontario, Canada, founder Ted Livingston knew first hand that even with millions of active users and a beloved product, monetization was a dead-end race that led to either trying to compete with the largest data monopolies in tech, or contributing to those monopolies, either way while betraying users. Kin was created as the ultimate solution to that problem – one that would allow developers to band together to create value around a virtual currency, and be rewarded for creating great user experiences.
White Paper Link: Kin White Paper
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