The Kik Foundation, responsible for the development of the Kin project, reported the creation of its own blockchain from Stellar, with which they hope to "take with their own hands" the future of the application and its advent as a tokenized ecosystem.
The Foundation published a statement on Tuesday explaining that the current blockchain platforms do not have the necessary characteristics to support the activities they carry out, so they have decided to act on their own and build a chain that responds faithfully to their needs. "It's as if we were in the jungle of the chain of blocks trying to find our way through a thick forest without a compass or a map," the statement said, signed by Natanel Lev, vice president of the Foundation.
This decision is made after evaluating the characteristics of Ethereum -blockchain in which the cryptoactive KIN is supported- and obtaining as a result that it is not prepared for the purposes of the application. Scalability and unpredictable commissions are some of the main reasons. In addition, they focused on Stellar, but it also has weaknesses, especially in terms of "liquidity," they said.
We researched alternative blockchains and Stellar was the best candidate because it solved the problems related to the scalability and predictability of tariffs that we found in Ethereum. As we began to create a migration plan from Ethereum to Stellar, we came to understand that while we are in Ethereum's world, it still has its limitations in terms of liquidity.
Betting on Stellar, in addition, opened three new paths: use the network tesnet, creating a chain of public access, use the Mainnet, and face the inherent difficulties of this blockchain or create your own blockchain, the Kin Blockchain.
"What we need in the long term, and what we are doing in the long term, is our own solution that eliminates business scale problems and can be customized according to our own needs. In light of this, we decided to build our own chain of blocks - Kin Blockchain ", emphasizes the statement.
For this reason they have decided to use a fork of the Stellar network:
Bifurcar Stellar allows us to customize it for our own needs, which will improve the Kin SDK user experience and eliminate any tariff subsidy problem that may slow us down as we move forward. This decision supports unlimited innovation and allows developers to more easily contribute and improve the tools and infrastructure of the Kin ecosystem, allowing them to create customized use cases that would otherwise never exist.
So far the Foundation had opted to apply a multi-blockchain strategy, using the best of Ethereum and Stellar chains for the purposes of their project. However, this work also presented its own difficulties, such as the technical work in Stellar and the realization of the migration of the KIN2 token to this network, with the permanence of the KIN1 in Ethereum. As explained by Reddit, KIN2 will be the token for the user interface, although they have plans to create an exchange mechanism and a unified currency.
"Our plans to build an exchange mechanism also remain the same. We still plan to create a unified currency in two networks, "they wrote. In addition, in that same social network announced that they will work with both networks, and that while the fork of Stellar will be properly Kin, what remains in Ethereum will be governed by the rules of that blockchain.
Those who decide to join this project will be able to operate network nodes, collaborating in an important way to its operation and security, although Kin "will have control over who has access to the nodes, and the validators must be approved by the foundation".
Despite the courage of the Foundation to embark on this project, there are some technical considerations that must be assessed.
First, choosing the "fastest" or "most appropriate" network for a given project and branching it to take advantage of its characteristics may not have the desired effect, since at higher speeds in the creation of blocks, a higher percentage of orphan blocks. Further. the main network would maintain its normal operation, but the protocol and the chain's own code could cause errors in an alternating chain that is going to be modified.
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