So you must be wondering “what the Kin blockchain is?”. The Kin blockchain is a software built to scale for mass usage and supports an Ecosystem-wide digital economy where app developers and mainstream consumers make millions of micro-transactions.
App developers anywhere can seamlessly integrate the Kin SDK into their platform and become active partners in the Ecosystem’s growth. When developers join the Kin Ecosystem, they benefit from the Kin Rewards Enginehttps://kin.org/kin-rewards-engine(KRE). The KRE incentivizes app developers to create engaging user experiences and pays them when users spend Kin within their apps.
So what are the benefits of The Kin blockchain?
The Kin Ecosystem isn’t just a new, digital economy. It’s a digital community. App developers and their users tie the Kin Ecosystem together by earning and spending the Kin cryptocurrency in exchange for digital experiences, products, and services.
Earn Kin tokens
In the Kin blockchain, users earn rewards weekly by driving the growth of the blockchain. It is simple, by rewarding Active User Balances, or “AUB”, the biggest token sinks of activity and creators of consumer demand for Kin utility win the biggest rewards.
The Vision
Kin is used as money within a digital ecosystem of consumer applications and services. Kin coins enter circulation via an incentive model referred to as the Kin Rewards Engine, or “KRE”, which rewards the developers that create compelling user experiences with Kin based on their engagement.
This offers a software monetization model that incentivizes the adoption of new use cases and creation of value for a cryptocurrency, as well as encouraging the exchange of value between users, as opposed to harvesting user data and attention at no benefit to users themselves.
This new alternative re-aligns users and developers around a shared digital economy in which the content creators and developers that generate value are the focus, not big-data monopolies.
The Kin blockchain guiding principles
Transparency
For transparency, Kin documents and stores every transaction done and also broadcast every iteration on the blockchain.
Fairness
To help in the fairness of the Kin network, every user/developer that contribute to the growth of the network get rewards based on the amount of work put in.
Efficiency
For efficiency, Just as there will be iterations for the KRE formula, we will also iterate the payout process until we find a way to make sure developers are getting their well-deserved rewards as quickly and seamlessly as possible.
Conclusion
The Kin network is a fascinating piece of work that allows developers to get paid in the Kin currency for their creativity which in turn encourages hard work while having fun.
