Kin Ecosystem Foundation To Fork Stellar And Launch A Proprietary Blockchain

The vice president of research and development at the Kin Ecosystem Foundation has certainly stated:

“Kin needs to be scaled now.”

Meanwhile, Kin is behind Kik Messenger – the app which recently decided to fork stellar and develop a proprietary blockchain for its cryptocurrency. The decision was announced on Tuesday and came as a culmination of a months-long struggle on the part of Kin’s developers in finding a platform that can scale to accommodate the millions of users behind Kik.

The founder and CEO of Kin Ecosystem Foundation and Kik Messenger, Ted Livingston, recently stated:

“Most crypto projects to date have been technology-driven first and product-driven second. Kin has always been the opposite.After working heads down alongside the best minds in the industry we came to the conclusion that a hybrid solution of Ethereum and our own fork of Stellar would benefit the Kin Ecosystem both short and long-term.”

Originally, the idea for Kik Messenger to scale was through the ERC-20 tokens. However, the developers at Kin were disappointed with Ethereum’s scalability and transaction speed. This is how the Stellar fork came into consideration.

The new plan states that kin will still feature a bidirectional blockchain support through consumer-facing applications. This is how the proprietary kin network will be utilized, in a partnership with the Stellar Foundation.

However, the goal is to use Stellar as a foundation in the blockchain – which is why both of the companies and development teams have continued their partnership, potentially benefiting from it in the long term.

“Our goal is for Kin to be the most used cryptocurrency in the world – and this will help get us there sooner,” Livingston concluded.