The Kinit app, available in beta through the Android store, is experiencing an influx of users in recent days.
The project KIN is called the "Trojan horse" of crypto, in effect spreading an app to thousands of users, giving them access to the KIN digital resource. The Kinit app (KIN) has been available in beta for a few days in the Android app store and its users have surpassed all users of the Ethereum network.
According to a specialized exploration site the activity on the new Beta app peaked every day. Kinit is downloaded and has more than 8,300 active users in the last 24 hours, more than all the other dApps combined. It should be noted that the Kinit app is not tracked by sites like DappRadar, or State of the Dapps, and is a different statistic than the use of projects based on Ethereum.
This rapid expansion is due to the fact that the KIN ecosystem adopted a different approach: first of all building a solid app and not emphasizing the relationship with cryptocurrencies. The KIN token, which is based on Ethereum, will not be directly usable in the KIN app. Instead, Kinit uses a different blockchain, based on the Stellar (XLM) technology. This means that inside the app, the KIN token is exchanged for a new form of asset. This saves users the need to know the Ethereum network, portfolios and gas prices, while using an alternative blockchain and gains valuable digital assets, in theory to be traded and traded on open markets.
The platform token – KIN will be used as a reward system within the Kik and Kinit chat application, thus making hundreds of thousands of app users in cryptographic owners. The KIN token has a stock of 100 trillion coins, with the aim of promoting premiums and micro-payments.
"In the beta app, users can complete a simple task a day and be rewarded with a predetermined amount of Kin. Within 4 days / tasks, users can accumulate enough Kin to spend on an Amazon gift card, and as they progress, they will have enough to spend on other gift cards, such as Grubhub and Ticketmaster, "explained the KIN team in a blog .
Activities on the Kinit app include surveys and questionnaires, which are rewarded with KIN tokens. For now, the app is only rolled out as an invitation-only beta and has not mentioned the possibility of withdrawing KIN and sending it to an exchange. In the future, an easy way to exchange in-app tokens with the KIN digital asset and exchange it on an exchange may be possible.
Meanwhile, the KIN market price remained depressed, at $ 0.000128. The KIN project made no effort to be quoted on large stock exchanges and the price is not affected by bots or pumps. KIN is seen as one of the long-term propositions, a risky resource that can be one of the ways to adopt mass encryption.
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