What is Kyber Network? But what to know about the latest KNC coin 2020

Kyber Network According to the development team of this project, this will be the person who lays the foundation for the next development of the crypto world.

So…

  • What is Kyber Network? What is KNC coin?
  • Should I invest KNC coin are not?
  • Buy and sell KNC coin Where is the reputation?
  • Kyber Network Wallet should use?

If you are looking to find out Kyber Network and potential invest KNC coin then this article is for you.

What are you waiting for, let’s start the article!

Maybe you are interested: What is Bitcoin? Bitcoin investment guide for beginners?

What is Kyber Network?

Kyber Network is a protocol that provides liquidity on the blockchain to meet the trading and exchange needs of cryptocurrencies (token) of many different applications.

The protocol of Kyber Network enables decentralized token swaps between any application, and allows the exchange of value to be made between all parties in the ecosystem. Using this platform developers can build instant payment flows, applications, token swaps.

The project’s mission is to make any cryptocurrency usable anywhere and become a transaction layer for the decentralized economy.

kyber-network-su-menh

Features of Kyber Network

  • Cross-platform support

Cross-platform support allows Kyber Network can connect to any application and protocol without being limited by differences in technology or ecosystem.

  • Instant and secure transactions

The protocol of Kyber Network helps to realize commercial transactions and decentralized financial products by enabling instant and secure processing of transactions between tokens. This is also the key point for many applications.

Not only operating completely on blockchain to ensure transparency, Kyber is also designed with high compatibility and developer-friendly, making it easy for many different applications to integrate.

Greater interoperability through a cross-chain solution thanks to the cooperation between actors in the ecosystem.

Mission

Kyber Network towards a future where anyone who owns cryptocurrency can easily use the tokens they have under any circumstances. Then, it only takes a few seconds for you to pay for a t-shirt with any token, invest in any investment fund in the world, or use the token to buy jewelry for your loved ones.

As transactions with unlimited space and platforms are made easier, Kyber Network will go one step further in realizing a truly decentralized world.

What is KNC coin?

KNC coin aka Kyber Network Crystal (KNC) is an ERC-20 token and an integral part of the network Kyber Network.

KNC It is likened to a glue that connects the parties involved in the ecosystem Kyber Network, including liquidity contributors and various actors.

Basic parameters of KNC coin

Token symbol KNC
Blockchain Ethereum
Token Standard ERC-20
Contract 0xdd974d5c2e2928dea5f71b9825b8b646686bd200
Total supply of tokens 211,256,875 KNC
Total tokens in circulation 179,625,326 KNC

Uses of KNC coin

knc

With the use of KNC coin I will list each component participating in the ecosystem Kyber Network and the corresponding use of KNC with each component.

  • Use to join Kyberreserves

Kyberreserves aka liquidity contributor, with KNC coin it will help the reserve system in the liquidity network to work smoothly. To create and increase liquidity for tokens, 3rd party – token reserve is required KNC to pay their operating fees on the network. Kyber Network paid in KNC from reserve houses.

  • For dApps, wallet services and traders

By registering and integrating with the liquidity network of Kyber Network, dApps (decentralized applications) and the business is entitled to a commission equal to KNC after each transaction arising on Kyber Network. For example, a dApp platform that integrates with the APIs of Kyber Network will receive a fee in KNC for directing more users to the Kyber Network and helping the platform gain wider adoption.

KNC coin will be used to pay for the transaction taking place on the network. In each transaction, a portion of this fee (paid by the buyer in KNC) on Kyber Network is removed from circulation forever.

Distribution of KNC coin

  • All tokens KNC sold at round Private Sale and Early Investor unlocked in September 2017 (74,803,953 KNC).
  • 57,568,314 KNC sold at round Public Sale also unlocked in september 2017.
  • 41,982,255 KNC distributed to advisors group unlocked 16,070.001 . respectively KNC in September 2018 then funds from December 2018 4,017,500 KNC will be unlocked until September 2019 is the end. Number 9,842,253 KNC coin the rest are reserved for new team members and will be released and locked as needed.
  • 42,580,754 KNC in the reserve fund will be used to finance operations.

Should I invest KNC coin or not?

Attention: no investment is 100% safe and every decision carries risk. In any case, it’s up to you to decide. However, below is some useful information that can impact the return on your KNC coin investment.

Kyber Network Development Team

kyber-network-team

Top of the group Kyber Network is CEO Loi Luu, a researcher specializing in cryptocurrencies as well as smart contracts and decentralized algorithms. He regularly attends many cryptocurrency seminars and has appeared on the list Innovators Under 35.

Besides, the development team also has a number of Vietnamese programmers and computer experts.

Among the project’s advisors, one name stands out: Vitalik Buterin, the man behind the birth of Ethereum.

With a strong and capable development team, it will ensure your future plans Kyber Network on the right track, creating a solid foundation.

Kyber Network’s Partners and Applications

Currently there are 24 partners associated with Kyber Network. Reputable partners help the platform to add decentralized liquidity to the crypto world.

Typical names can be mentioned such as: Trust Wallet, MyEtherWallet, WanChain, Icon, EthLend, …

Having a partner link will increase the applicability Kyber Network thereby boosting demand for copper KNC coin and increase the intrinsic value of this coin.

In addition, when services require payment in KNC increases, the amount KNC but Kyber Network obtained and removed from circulation will increase. This helps to increase the scarcity of KNC coin.

KNC coin price

Price KNC currently trading at 0.441 USD approximately equal to the price of KNC opened for sale by Kyber Network ICO. There was a time price KNC touched 6 USD (January 9, 2018), the highest price ever of KNC coin

price

Currently, KNC’s total market capitalization is 79,232,402 USD, ranking 53rd in market capitalization.

Instructions for buying and selling KNC coins

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy KNC, sell KNC has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell KNC in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy KNC For prestige, I think the best currently is the Bitmoon exchange.

See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

Prestigious international KNC trading floor

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the name of the exchange and a comparison table of transaction fees for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Although the international exchange has the advantage of trading volume as well as high liquidity, the disadvantage is that you cannot trade in VND. Almost every transaction buy and sell KNC All of you use USDT for transactions.

Kyber Network wallet should use

Currently, depending on usage needs and invest KNC coin your wallet that you will choose for yourself the appropriate wallet.

Suitable for those who want to store KNC long term and few transactions.

The advantage of cold wallet is that it is safe and optimal for storage. Cold wallets you can refer to to choose from are: Ledger Nano S, Ledger Nano X.

You may be interested: What is ledger nano S cold wallet? Latest User Guide and Security 2020

  • Web-based wallet (online wallet):

You can choose from a number of web-based wallets that support the ERC-20 token standard such as: MyEtherWallet, Metamask, etc.

Handy software wallet for those of you who have frequent needs to transact and move a lot. Because these wallets support you to install KNC . wallet right on your mobile phone. You can refer to Trust Wallet

This wallet is suitable for those of you who often buy and sell KNC optimized for trading.

Some Reputable trading platform that you can refer to are: Binance exchange, Bitmoon exchange, Huobi exchange, …

Conclude

This article has summarized the most basic information you need to know about Kyber Network and KNC coin. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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