KIN meaning in Cryptocurrency ?

Answer:

What Is Kin?

Kin is a decentralized cryptocurrency purposely designed to integrate easily across Mobile and Web Apps, with a built-in incentive model that rewards developers for increased usage. Apps built with Kin get paid for creating compelling cryptocurrency-based user experiences, where greater engagement results in shared economic benefits for users and developers. It was initially launched in 2017 as an ERC20 token on the Ethereum blockchain, but has since migrated to the Solana blockchain, enabling consumer-scale apps to transact swiftly, with minimal-to-no fees. Today, the Kin ecosystem boasts 60+ million wallets, and has distributed over $70M in rewards across 60+ apps since its inception.

How Does Kin Work?

Kin tokens enter circulation via an incentive-based revenue model referred to as the Kin Rewards Engine (KRE), which rewards developers for creating compelling cryptocurrency-based experiences that lend themselves to the value of Kin. The KRE creates a user/developer first economy, offering a sustainable and fair 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 alternative monetization model re-aligns users and developers around a shared digital economy in which content creators and users are rewarded for the value they bring to the platform, and not the big-data monopolies.

Kin offers the fastest and easiest path for developers to integrate cryptocurrency within their web & mobile apps, using out-of-the box OS tools & technologies along with a wide array of plug-and-play SDKs. Kin’s SDKs remove the intricate complexities of cryptocurrency integration so all the developer has to focus on is creating awesome in-app experiences where users can earn and spend their Kin tokens. Designed for mainstream adoption, Kin removes the hurdles facing developers to provide a quick, easy & intuitive cryptocurrency development experience.

The distribution and algorithmic logic of the Kin Rewards Engine is overseen by the Kin Foundation, a non-profit organization based out of Ontario, Canada. Undistributed Kin is held in an institutional-grade treasury that is controlled via a series of vesting periods, inflation guidelines and fiduciary custody controls that ensure the safe transfer and proper use of funds. No more than 10 trillion Kin will ever exist in the Kin ecosystem by the end of the distribution period, the large supply meant to allow mass adoption by users around the world while still transacting in whole-number denominations, as opposed to decimal places.

Where Can You Buy Kin?

You can buy Kin at any cryptocurrency exchange that offers the digital currency. Remember to do your own research before choosing an exchange. For the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab.

How to Start Building With Kin?

If you’re interested in helping create a better digital world by integrating Kin within your app or business, you can visit the kin developer landing page to get started.

Kin Developer Resources Include:Intuitive developer docs that provide all the information developers need in one place.Kin SDKs that include iOS, Android, Node, Go, Python, Web & React Native.Quick and helpful tutorials to help developers hit the ground running. reference

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