08 September,2022 05:13 PM IST | Mumbai | BrandMedia
Blockchains like Terra (LUNA) have learnt from their past and are pushing through with Luna 2.0 as everyone is learning more about blockchain technology and its potential problems.
The good news is things don't have to be that way, Kittynomica token (KIN) is a new cryptocurrency of the Kittynomica blockchain created in the bear market with these experiences ingrained in its network so that these problems can be prevented. VeChain (VET) and Cosmos (ATOM) are two other blockchains of massive potential which this article will also cover.
ALSO READ
Best Psychics in 2024 for Accurate Readings, Insights, and Guidance
Monopoly GO Hack - 3 Ways To Get Free Dice On Monopoly GO
Xitox Reviews – (Exposed) - Is It Work for Parasites?
ProNerve6 Reviews - (Exposed) - Don’t Buy Until You Read This!
ProNerve6 Reviews - Could Enhance Nerve Health? (Must Read!)
Kittynomica Token (KIN) is a utility-based cryptocurrency created on the Binance Smart Chain blockchain. This allows the token to have the Binance Smart Chain's (BSC) speed as it is integrated with the already existing structure. Kittynomica token (KIT) is of type BEP-20 and the BSC on which it is built gives it the power to create blocks every 3 seconds which surpasses Ethereum's 13 seconds.
The low gas fee genius
Kittynomica token (KIT) is of type BEP-20 and the BSC on which it is built gives it the power to create blocks every 3 seconds which surpasses some major blockchains. These tokens have cross-chain compatibility that accommodates coins from different blockchains and this helps the native Kittynomica token increase its value, liquidity, and utility with all this happening with a low gas fee.
Although far cheaper than other cryptos because of presaleâ¦Kittynomica tokens (KIT) cannot guarantee profits but the right trading experience can be very worthwhile. The presale currently happening simply allows you to buy them at the best prices from the website before the official launch hence increasing the profit range if the token were to undergo bull runs.
Kittynomica is a platform that focuses on user-generated content, the network has three unique products that give the best user-generated content experience compared to many cryptocurrencies.
A marketplace exists within Kittynomica (KIT) that users can use to publish, sell and upload digital assets they created on the Voxel Editor. Kittynomica's (KIT) Voxel Editor is integrated into the network and it gives users the power to make memes on the platform and any idea they come up with can be created with the editor. The user then exports the designs to the marketplace where they are sold as digital assets.
Another interesting feature is Kittyland, this element allows users who have assets to use their digital creations. A user can put assets inside a piece of Land, a BEP-20 token, which they own inside the wider Kittyverse. Users have the freedom to put assets on their land and shape it in the way that pleases them. This aspect of Kittynomica is just like owning real-world physical property and entities like skyscrapers or billboards can be established on the land.
Governance in Kittynomica is decentralized and is managed through the decentralized autonomous organization (DAO) system. Any holder of the Kittynomica token (KIT) has the right to make governance decisions within the network. Kittynomica token holders can exercise votes on vital elements of the network like its features and even the roadmap but they can also pass the authority on to someone else.
How is access managed in Kittynomica (KIT)?
Users will spend Kittynomica tokens (KIT) inside the network to purchase digital assets, customize personal assets or buy land. Creators can use these tokens to upload assets and obtain important equipment to transform assets in a way that stands out. The more land sales that take place the higher the demand for Kittynomica tokens and having this cryptocurrency gives the person access to all of these things.
Fee distribution in the Kittynomica network is done in the best way possible where 5 percent of all transaction volume is done via the Kittynomica token (KIT) as transaction fees are allocated with 50 per cent towards Kittynomica's staking pool as rewards for the user that stake the token; 25% goes back to the foundation.
VeChain is a network based on blockchain technology with the utmost focus on supply chains and logistics where its name comes from. There are two kinds of native cryptocurrency in VeChain, the VeChain token (VET) which is managed by the VeChainThor blockchain and the VeThor token (VTHO).
VeChain (VET) has features specifically designed for tracking goods and different forms of data. Organizations that need a verified chain of ownership by production or shipping among other processes can employ VeChain (VET) for this.
VeChain (VET) can create smart contracts within the blockchain and users get to track ownership and manage different kinds of goods. An electronics manufacturer can easily track the process of products from their inception to their distribution using VeChain. A plant-based organization can track its plants using VeChain from the point of plants to the sales for end-to-end compliance needs; its purchase or selling can be tracked via VeChain.
VeChain (VET) uses VeChainThor (VTHO) to support currencies and smart contracts alike. Currencies inside the VeChain (VET) blockchain comply with the VIP180 standard that was created especially for VeChain just like how ERC-20 tokens are for Ethereum (ETH). Whereas Ethereum employs a proof-of-work (PoW) consensus mechanism, VeChain (VET) employs the proof-of-authority (PoA) mechanism to create an efficient network that uses less power.
Users who have a large number of VeChain tokens can govern the ecosystem and even verify transactions to receive a portion of the transaction fees as rewards. Authority nodes possess 40% of voting power for governing whereas other VeChain tokens (VET) holders can become Economic Nodes through an application process if they have more than a million VeChain tokens (VET).
In case they get selected, they can stake the native VeChain token to obtain voting power in governance. Holding and staking lots of VeChain tokens (VET) permits the user to change the direction of the platform and the number of VeChainThor created by token holders and even the transaction fees that are charged on the platform.
VeChain uses the PoA consensus mechanism with its governance feature which creates scalability because only specific and few token holders must reach a consensus making it less computationally intensive compared to the PoW or proof-of-stake (PoW) mechanisms.
Cosmos (ATOM) works in a competitive nature which means it prioritizes interoperability within its blockchain. Avalanche (AVAX) is another interoperable blockchain that works differently from Cosmos but has seen a spike in its token value since its interoperability feature was capitalized on.
Cosmos (ATOM) employs hubs to permit blockchains to make communication with each other easier. The hubs can connect to different blockchains and this happens through the inter-blockchain communication (IBC) feature of Cosmos. This is in stark contrast to other interoperability solutions that use smart contracts to lock tokens into a specific platform whilst avoiding sending tokens between different networks.
Cosmos SDK is the software development kit through which users can make custom blockchains out of. The Cosmos SDK default consensus protocol is called Tendermint Core although other modules built within the network may be used. The Cosmos SDK feature makes the process happen more smoothly and provides standards needed for making a blockchain. Along with its nature to be customized with plug-ins the users can make new features at will.
Website: https://kittynomica.io/
