Kik founder Ted Livingston announced on Wednesday that his company was moving its Kin token app from kik meetup to Stellar. How Can I Buy Bitcoin? How Does Bitcoin Mining Work?
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How Do Smart Contracts Work? Join Us at Consensus 2018! Mobile messaging startup Kik is planning to shift its Kin token network from ethereum to Stellar, CEO Ted Livingston confirmed on Wednesday. Livingston went as far as to blast ethereum as “the dial-up era of blockchain,” noting that gas prices – which are needed to execute computations – and other transaction fees need to be built into the app to ensure users’ transactions go through. October, stating that ethereum’s scaling issues meant it “might not be the right solution” at the time.
In Wednesday’s video, Livingston said Kin was pushing the limits of what ethereum could handle with its roughly 10,000 users. Stellar was built by the guys at Ripple and the thing we like about it is it’s custom-built for an application like Kin. It’s not like ethereum where it’s trying to be everything to everybody, and that makes it general-purpose and slow. Over the next few weeks, Kik will test Stellar’s scalability and reliability, according to Livingston. It’s very focused on what it’s trying to solve for: fast, reliable and inexpensive transactions for a lot of people,” he said.
Assuming the tests are successful, Livingston said he foresees a second-quarter rollout of the app, built on Stellar, to all users. Little-known startup Loom Network claims it’s ready to take on ethereum’s thorny scaling problems with a centralized version of sidechains. An ethereum event provided evidence that when it comes to a path forward on governance, the world’s second-largest blockchain is going its own way. In a keynote speech at an ethereum developer meetup last week, JP Morgan’s blockchain lead opened up about her thinking on the tech and its future. Do you believe celebrity endorsements help the blockchain industry?