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Kyber Network Coin – Detailed review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Kyber Network Coin.
Origin & Background
Kyber Network is creating a decentralized exchange that allows the conversion of digital assets on-chain. Kyber Network’s wallet will allow anyone to seamlessly convert from one token to another.
There are many centralized exchanges that already exist today. However, there have been many cases of hacking and stolen funds. With Kyber, your coins are stored in your own wallet and not on the exchange. Kyber Network processes transactions on-chain, making it much more secure and difficult to hack.
The platform was announced in May 2017 with tech founders Loi Luu, Yaron Velner and Victor Tran. Ethereum creator Vitalik Buterin acts as an advisor to the team.
Reserve Contributors: These users can provide funds to the Reserve Entities. In return, they share the profits generated through the exchange.
The Reserve Manager: The manager maintains the network and calculates the appropriate exchange rates.
The Kyber Network Operator: The manager of all Reserve Entities who decides when to add or remove new Reserve Entities. Initially, the Kyber team will play this role, eventually switching to a decentralized governance model.
Loi Luu (CEO & Co-founder) – Developed Oyente, the first open source security analyzer for Ethereum smart contracts.
Yaron Velner (CTO & Co-founder) – PhD in computer science from Tel Aviv University, with research focus on game theory incentives in blockchain protocols.
Pros & Cons
We have not identified any obvious cons with the Kyber Network Coin.
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