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Kin was established in 2017 and is supervised by the Kin Foundation, a Canadian nonprofit corporation established for the governance of the cryptocurrency Kin and is tasked with growing an open ecosystem of digital services.
The Kin blockchain is built to scale for mass usage and supports an Ecosystem-wide digital economy where app developers and mainstream consumers make millions of micro-transactions.
KIN is used to generate value through a shared, decentralized cryptocurrency in a digital ecosystem of apps and their users. 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 Engine (KRE), which incentivizes app developers to create engaging user experiences and pays them when users spend Kin within their apps.
The Stellar Consensus Protocol (SCP) was first described in a whitepaper by David Mazières in 2015. It is a “federated Byzantine agreement system” that allows decentralized, leaderless computing networks efficiently to reach a consensus outcome on some decision.
Try our free Kin (KIN) portfolio tracker if you want to efficiently keep track of your KIN and other coin/token investments.