3 Facts you didn't know about Kira Network

By fsp | Blog of fsp | 9 Oct 2020


kira network
Project Kira Network exponentially gaining popularity among the crypto-community and DeFi fans, that's why it is crucial to write a few facts about the project to provide users with a greater familiarity with it. So....here are 3 facts about the Kira Network you probably didn't know about it:

Fact #1. Kira aims to change the way users interoperable with the PoS-based systems. Generally, when users would like to secure the network, they should lock their tokens either on their own validation node or via delegating the funds to trusted 3rd-party validators. From the one side, users are rewarded with the network inflation, which generally stays within the 5-15% range, so they are generously compensated for their help.

On the other side, by locking their funds, they are missing a lot of market opportunities and basically are excluded from the market. 

Kira Network proposes the solution for the stakers to participate in both staking and accessing the market activity. 

Fact#2. The project developed the new version of Proof-of-Stake consensus called "Multi-Bonded Proof of Stake" supporting its mission. According to the whitepaper, it has some advantages over the "parent" consensus algorithm: provides no slashing penalties for the validators, each validator has an equal chance to produce the blocks, and, moreover, it doesn't lay on assumption that all the blockchain participants are honest actors - thus, it is more secure.

Fact#3. Kira Network is developing "Kira Interchain Exchange Protocol (IXP)" - Decentralized Exchange with the underlying sharded design. Basically, the DEX supports the aim of the project to allow users to stake and trade with their funds at the same time. By staking their tokens via the IXP, users get an equal amount of unlocked tokens issued that could be used within the platform. According to the roadmap of the project, by the end of 2021, the network will be interconnected to such blockchain hegemons as Ethereum, Cosmos, and Polkadot.

* Extra tip: Kira Network just opened the opportunity to win the place in their upcoming sale, details could be found on their official Medium blog - https://medium.com/kira-core.
 

 

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