Kik, mobile messaging giant may soon be moving its Kin token network to Stellar. It is currently with Ethereum.
This is according to Kik CEO, Ted Livingston, who responded to questions via YouTube. Livingstone said that Ethereum’s Blockchain cannot scale to the level that the messaging app needs. This was given as the main reason for the move.
The Stellar network was founded in 2014 by Jed McCaleb, the co-founder of Ripple.
Among the reasons Livingston gave for the move to Stellar, was due to scaling issues and the reliability of the network. He used congestion caused by the recently launched CryptoKitties app on the Ethereum Blockchain, as an example. According to Livingston Ethereum’s Blockchain is currently struggling to handle the more than 10 000 users of the mobile app.
Livingston said that the reason why they choose to make use of Stellar, is due to the fact that the Stellar application is custom-built to meet the needs of an app like Kik. Livingston praised Stellar for its scalability and reliability and said it is both fast, reliable and inexpensive for users.
News site, CoinDesk reported that a selected amount of users would begin testing the new app at the end of December and if all goes well, the new app will be rolled out in the second quarter of 2018 to the general public.
In Bitcoin Blockchain news, BlockCypher, a Bitcoin technology company was recently one of the first ones to donate to Mimblewimble technology, which is currently in the midst of its first fundraising campaign, and is set to improve the privacy and scalability abilities of Blockchains overall. The name is actually from a curse that is written in a book in the Harry Potter movie. The developers of this software, Grin, won’t be having an initial coin offering but has rather resorted to fundraising. Asking for $30 000 in Bitcoin, the project will run for a year. A second testnet is expected for spring 2018, which will include Bulletproofs privacy technology to the Blockchain.