Kik could be a free chat and electronic messaging application supported in 2009 and engineered for teenagers, with regards to three hundred million registered users.
The Kin token is created on the Ethereum block-chain, another on-line public ledger very similar to that of Bitcoin, the first digital currency. An acquisition of the token is slated a while this year, Ted Robert R. Livingston, Kik founder and chief officer, aforesaid in an interview with Reuters.
He aforesaid Kik would be the primary social media app to form its own currency for future sale to the general public. Livingston intercalary that 10% of the token would be sold-out in a very public sale to investors, in "initial coin offerings, " a capital-raising theme used by block-chain firms that entail making a digital plus and mercantilism it to the general public.
Block-chain emerged because the software system underpinning Bitcoin and is maintained by a network of computers on the net. It's gained international traction given the technology's ability to record and track the movement of assets.
"A crypto-currency opens a technique which will result in a future in digital services that's each open and higher, " said Livingston.
He noted that digital services like chat apps and social media platforms had become controlled by some enterprises, creating it robust for smaller players to vie.
The Kin token is going to be accustomed facilitate every kind of services, at first among the Kik platform, and eventually expand to different digital services, Livingston aforesaid.
Kik's daily rewards will start at around $100, 000, which will be divided among the digital service owners.
