Mobile messaging start-up Kik is intending to change its Kin token network from ethereum to Outstanding, Chief Executive Officer Ted Livingston verified on Wednesday.
Speaking in a real-time question-and-answer session on YouTube, the business’s owner suggested that ethereum’s blockchain– which the application is presently based upon– is unable to scale to the degree that Kin requires, among other problems. The solution, he claimed, is to move to the Excellent network, first introduced in 2014 and also created by Surge founder Jed McCaleb.
Livingston reached to blast ethereum as “the dial-up period of blockchain,” keeping in mind that gas costs– which are had to perform calculations– as well as various other purchase costs have to be built into the application to make sure users’ transactions experience. Kik initially announced it was considering a relocation into one more blockchain in October, stating that ethereum’s scaling concerns suggested it “may not be the ideal remedy” at the time.
In Wednesday’s video clip, Livingston stated Kin was pressing the limits of just what ethereum could handle with its approximately 10,000 customers. The network’s reliability is one more factor in the prepared action, he claimed, pointing to current network congestion as an outcome of the prominent CryptoKitties app.
Livingston discussed in the video clip:
” Stellar was built by the individuals at Surge and also the important things we such as concerning it is it’s custom-made for an application like Kin. It’s not such as ethereum where it’s attempting to be whatever to everyone, which makes it general-purpose and also sluggish.”
Over the following few weeks, Kik will certainly examine Stellar’s scalability and also dependability, inning accordance with Livingston.
“It’s really focused on just what it’s aiming to solve for: fast, reliable and also affordable transactions for a great deal of people,” he said.
A Kik representative informed CoinDesk that a minimal variety of customers would begin making use of the app by the end of December, which represents somewhat of a hold-up because of the CryptoKitties blockage.
Presuming the tests succeed, Livingston said he foresees a second-quarter rollout of the application, built on Excellent, to all users.
Brady Dale contributed coverage.
Tags: ethereum price , ethereum mining, how to mine ethereum, ethereum price chart, mining ethereum, ethereum mining, ethereum mining software, current ethereum price, ethereum price today, ethereum price usd, ethereum price drop.