KAI meaning in Cryptocurrency ?

Answer:

What Is KardiaChain (KAI)?

KardiaChain is a blockchain platform that aims to be fully interoperable and "non-invasive," meaning that blockchains can connect to the network without needing to make technical modifications to their own protocols. KardiaChain uses a dual-node structure to facilitate the connection between its own ledger and other blockchains, sharding for scalability and smart contracts for developers.

The platform relies on a native token, KAI, which is used for staking, transaction fees, participating in services and deploying smart contracts.

KardiaChain was first announced in October 2018, and its mainnet went live in December 2020.

Who Are the Founders of KardiaChain?

KardiaChain was founded by two former high-school classmates, Tri Pham and Huy Nguyen, with Pham serving as CEO and Hguyen as chief technology officer. Pham is a long-time entrepreneur, and before KardiaChain, he co-founded AppFluke, a startup focused on bridging the gap between cutting-edge technology and consumer products. He has said that it was his time with AppFluke that first made him interested in bringing new technology to the masses, and in 2017, he discovered the true potential applications of blockchain. Together with Nguyen, he focused on the Vietnamese market and launched KardiaChain as a solution for enterprise-focused blockchain interoperability.

Nguyen was most recently a technical manager at Google, where he led the Google Fiber project. Several other Google employees also joined KardiaChain to form its core development team. Nguyen has also served in technical engineering roles for Cisco, Apple and Hitachi.

What Makes KardiaChain Unique?

KardiaChain claims to be the first-ever fully non-invasive, interoperable blockchain. The primary way it achieves this is through its dual master node technology, which allows the blockchain to have simultaneous access to both its own ledger and those of other platforms. This allows KardiaChain to operate in conjunction with other blockchains without requiring them to alter their respective protocol or technology. According to its whitepaper, dual nodes can be operated by anyone, making them permissionless, and have a consensus mechanism to verify data from both chains.

KardiaChain's CEO has stated that the platform is working to decentralize the existing systems of governments and enterprises, which allows it to reach millions of users without having to educate the public on blockchain technology. It is specifically focused on targeting users who are not native to crypto.

The platform has launched several initiatives intended to increase adoption, including "adoption decentralized applications," which combine aspects of both centralized and decentralized apps; discounts on mobile top-ups for Viettel customers when paying with KAI; and KAIstarter, a decentralized finance fundraising and revenue sharing platform. KardiaChain has also inked partnerships with other projects and platforms such as NEM (XEM), MANTRA DAO (OM), ShareRing and Bounce Finance (BOT).

Related Pages:

Learn about Polkadot, a major interoperable blockchain platform that also utilizes sharding.

Learn about ICON, another interoperability-focused blockchain project.

Curious about how initial exchange offerings work? Read more about the fundraising method used by KardiaChain on Alexandria, CoinMarketCap's online educational resource.

Stay up to date on the latest developments in interoperability, adoption and more with the CoinMarketCap blog.

How Many KardiaChain (KAI) Coins Are There in Circulation?

KardiaChain has a total token supply of 5 billion KAI. Of this amount, 816 million KAI (16.32%) was allocated for private sales, and 750 million KAI (15%) was made available for sale during an initial exchange offering via Gate.io. 1 billion KAI (20%) was reserved for the ecosystem, with 10% available immediately and 10% subject to lock-ups, and 250 million KAI (5%) was reserved for the community, subject to a 3-month lock-up. An additional 500 million KAI (10%) was allocated for block rewards, which will be released over a period of 10 years.

The KardiaChain team was allocated 600 million KAI (12%), its advisors were given 150 million KAI (3%), and 934 million KAI (18.68%) was kept for foundation reserves. These tokens were all subject to a 12-month lock-up and 24-month vesting period.

KAI was initially issued as an ERC-20 token on the Ethereum blockchain, but was later swapped for a token native to the KardiaChain blockchain upon its mainnet launch.

How Is the KardiaChain Network Secured?

The KardiaChain network is secured with a Byzantine Fault Tolerance delegated proof-of-stake consensus, meaning that new blocks added to the chain must be approved by a two-thirds majority and stakeholders may delegate the validation of transactions to trusted third parties. According to its white paper, KardiaChain's dual-node approach to interoperability ensures that the security of other blockchains is not affected when they interact with KardiaChain.

Blockchain security firm CertiK completed an audit of the KardiaChain mainnet in December 2020, shortly before its launch, reporting that "all the issues identified within the scope of the audit were formally addressed by the team."

Where Can You Buy KardiaChain (KAI)?

KAI can be purchased on several cryptocurrency exchanges, including Bilaxy, KuCoin, Hoo and Gate.io. It can be traded against the South Korean won, Bitcoin (BTC), Ether (ETH) and the stablecoin Tether (USDT).

Are you interested in buying KAI or other cryptocurrencies such as Bitcoin? CoinMarketCap has a simple step-by-step guide to teach you all about crypto and how to buy your first coins.

reference

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