Popular messaging app Kik entered the cryptocurrency market late last year with an ICO for their KIN token. They raised a total of $100M USD and established themselves as a major player in the social media cryptocurrency market.
Although they originally started as an ERC-20 token, the Kin Foundation keeps their eye on developing trends. In the first quarter of 2018, they started the process of porting over to the Stellar XLM blockchain.
Now, it seems that they’ve decided to hard fork that blockchain create an entirely new product. The Kin Foundation remains closely partnered with Stellar and hopes that their development process can offer some value back to the original blockchain.
However, creating a new blockchain is a time intensive and expensive process. There’s a good chance that the new Kin infrastructure will not be completed any time soon.
Investors will have to be content with the ERC-20 token, which Kik intends to support going forward. As with many recent ICOs and Token Generation Events, Kik started with a project on the ERC-20 standard. Read more from globalcoinreport.com…
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