[ad_1]
It has become evident that many projects are not too happy with the Etheruem infrastructure at this time. More specifically, many developers are pursuing a multi-chain approach or simply moving their project into a completely different ecosystem in the process. Kik he is the last to do so, as the project will go with Stellar to launch its product.
Another project interrupts the Ethereum infrastructure
For the Kik team, their adventure in blockchain and cryptocurrency was quite interesting. Although they are intent on building the most used cryptocurrency ecosystem, their approach to doing so has raised some questions. First of all, the cryptocurrency Kin was designed to be published on Ethereum. Given the ease of access of the network for ICO projects, this decision made a lot of sense.
Not long after, the team began to notice that Ethereum alone does not meet its specific needs. The current issues related to the sizing of Ethereum, still in force in 2018, have prompted the company to rethink its strategy outlined in mid-2017. Raising almost $ 100 million with an ICO does not eliminate the intrinsic problems of Ethereum, as the team has discovered shortly thereafter.
A new plan has been devised, which would see Kik developing a two-chain strategy. Rather than relying on an infrastructure, the team was trying to distribute the load accordingly. Ethereum however, it would provide Kin's security, while Stellar's ledger would be used for speed and downsizing. That decision has encountered some initial resistance, although it makes perfect sense from the business point of view.
To make matters worse, Kik has revised his initial plans once again. Stellar's low transaction fees were still too expensive for such a large project, which led to the creation of a forked version of Stellar created for this specific network. While this does not cause major problems in the world of cryptocurrencies, it was just a sign of bigger things that were yet to come.
Kik is now officially moving away from Ethereum in every possible way. The ERC token migration will be completed in the coming weeks, as an intuitive solution must be designed for this specific purpose first and foremost. Furthermore, it is not the first time that a company has moved away from Ethereum due to downsizing concerns, nor will it be the last.
For Kin's owners, there is nothing to worry about at the moment, as their Ethereum tokens will not lose value suddenly. The transition has yet to be announced, as no timeline has been set up at the moment. By poppering with the forked version of Stellar, Kik is still taking a certain risk, even if manageable.
Source link
