► Complete Review: https://www.coinbureau.com/review/kyber-network-overview-complete-beginners-guide/
► FREE Giveaway: https://www.coinbureau.com/promo/giveaway
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⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://kyber.network/
► Whitepaper: https://files.kyber.network/Kyber_Protocol_22_April_v0.1.pdf
► GitHub: https://github.com/kybernetwork
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📱️ Socials 📱
► Official Blog: https://blog.kyber.network/
► Twitter: https://twitter.com/kybernetwork
► Telegram: https://t.me/kybernetwork
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📝 Project Overview 📝
The Kyber Network is a decentralised exchange protocol. It’s a decentralized exchange, on the blockchain, but without an order book.
The project is looking to change the way that we exchange cryptocurrency through the use of these large centralised exchanges.
⚙️ Technology ⚙️
While you can use Kyber Network as an exchange, you can also transfer tokens from one person to another.
Additionally, when you move tokens through the Kyber Network, they don’t have to match what the receiver wants. Kyber Network can perform the exchange for you during the transfer.
In order to maintain liquidity on the network, the Kyber network operates a Dynamic Reserve Pool. Contained within the pool are all the Reserve Entities of the Kyber Network.
Storing a variety of entities within the pool keeps a monopoly from occurring. It also helps to maintain competitive exchange rates.
External Reserve Entities means that the Kyber Network doesn’t succumb to centralization. It also makes low-volume tokens available on its platform. Any funds in the public reserve can be viewed through a transparent fund management model on the Kyber Network.
💰️ Token 💰
The Kyber Network Crystal (KNC) is an ERC20 token. To manage a reserve on the Kyber Network, a Reserve Manager has to purchase KNC. Every time an exchange takes place on the network, a small portion of KNC is charged as a fee.
These fees are partially used to pay for the operational costs of the platform. They’re also used as an incentive for third-party entities which bring additional trade volume into the Kyber Network.
When the appropriate amount of KNC has been spent on the fee they are taken out of circulation or “burned”.
👨💻️ Team, Partners & Development 👨💻
Kyber network was founded by Loi Luu, Victor Tran, and Yaron Velner. They have backgrounds in blockchain engineering, Smart Contract audits and other decentralised technologies.
The Kyber Network project also boasts a high-quality advisory board with Ethereum founder Vitalik Buterin.
Kyber Network successfully released its testnet beta in August of 2017, and just a few months later launched its main net.
It has also has added support for conversions from ERC20 to ERC20, developed a suite of APIs for engineers, and implemented Gormos, its scaling solution which supports staking KNC tokens.
There is quite a lot of work that has been done on the projec that you can see in their GitHub repository.
📈 Trading & Wallets 📈
KNC Token is available on a number of exchanges but the bulk of the volume appears to be on BitHump. This could pose a threat from a centralisation as most of turnover is on a single exchange and pair.
Having said that, there are strong order books on other exchanges that have deep markets and reasonable turnover levels. These include on exchanges such as Binance and Huobi.
Storage is easy as this is an ERC20 token. Any wallet that supports Ethereum will work with the Kyber network.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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