One of the top 5 buzzing blockchains as per Bloktivty, Kin blockchain isgoing to migrate to Solana blockchain soon.
Kik Interactive Inc. had last month put forth a proposal to Kin ecosystem for migrating to Solana Blockchain.
The proposal was approved by 11 out of al 11 Validator Node Operators. 19 of 44 Active App Developers voted in favour of migrartion while 2 voted against, whereas 23 developers didn't particpate in the voting. But it's noteworthy that these 19 App Developers have 98.6% of total Monthly Active Spenders (MAS).
Kin is a fork of Stellar and was facing some challenges with the increase in its activity. Major limitations faced by Kin are:
- Performance: Latency and transaction throughput
- Feature Set: Limitations with how much ‘extra data’ can be attached to transactions
It hopes to do better on Solana blockchain.
Solana prides itself to be the first web-scaled blockchain. It has a blocktime of only 400 ms and is capable of 50000 to 80000 transactions per second. It's PoH (Proof-of-History) consensus mechanism allows for such a quick blocktime. All blocks are time-stamped and can be easily validated by nodes.
Solana is also capable of smart contracts implementation. So Kin can also create its own custom token there. Additionally, its Virtual Machine implementation enables more metadata space in transactions.
Considering all these, Solana blockchain infrastructure seems to serve the interest of Kin better than the existing Stellar fork. To top it, Solana is extending a maximum grant of 1% of its token supply (5,000,000 SOL tokens) to Kin Foundation.
Thus Kin ecosystem will be completely migrating to the Solana blockchain soon. This will be a huge gain for Solana.
The day before, I was talking about Akon & MMTC crypto themed cities' economy planned to run on Stellar based Akoin. But now Kin with its 3M Monthly Active Spenders moving out of a Stellar fork and to Solana tells me something!
Should I move a piece out of my XLM invrstment into SOL. 😇
Ah, it's always difficult to decide which one will do better in the long run!