The KCC is a popular decentralised public chain due to its high performance and low transactions costs. Its mainnet was launched in 2021 with EVM compatibility. It uses the Proof of Stake Authority mechanism. This makes it faster and more convenient than other public chains. Additionally, it has a cross-bridge that allows for interoperability.
Briefly about KCC Blockchain
Kuchain, which has evolved to the Kucoin Community Chain (KCC), is a product of the fans community of Kucoin Shares(KCS). The chain stands for the Kucoin exchange platform in providing a decentralised public chain. KCS uses the KCC Bridge to enhance connectivity and interoperability. This allows diversified main public chains and their native assets to its system. A few of the top projects on KCC include: +MojitoSwap +KuSwap +Paprprintr Finance +KsfSwap Finance +KillSwitch.
KCC aims to accelerate the flow of value around the world.CryptoLists.com
Several exchange platforms have capitalised on their traction by developing their own blockchains. Kucoin is no exception. KCC is a decentralised public chain designed to be EVM compatible and offers high performance. The blockchain is unique as it is compatible with the Ethereum Virtual Machine(EVM). The decentralised public chain has also significantly reduced transaction costs on gas fees. Holders of KCS pay on-chain gas fees using the platform's native token. It uses the Proof of Staked Authority(PoSA) mechanism to lower the block confirmation period to less than 3 seconds. This provides for high efficiency, stability, and security of the platform.
Utility of KCC Blockchain?
The public chain is critical in the crypto-verse. Previous to the emergence of this chain, there was no public chain that could handle the increasing number of dApps such as DeFi and NFTs. The existing public chain technology limited the large-scale and intricate applications. Their performance on the public chains was low with a high cost. It adversely affected the user experience and effectively the growth of blockchain technology. The KCC blockchain facilitates a high throughput with minimal latency at a low transaction cost. It has developed into a secure and stable chain for community users. In addition, the KCC bridge facilitates users to transact with native tokens of other chains on the platform interchangeably. It is also compatible with other stable coins in bridging Ethereum and KCC.
KCC Blockchain Consensus Method: Proof of Stake
Release Date: June 10, 2021
Advantages at KCC Blockchain+ KCC is compatible with Ethereum Virtual Machine and ERC 20.
+ KCS is used as the only native token and also used to pay gas fees.
+ KCC utilises the Proof of Stake Authority like most other blockchains.
+ The KCC bridge ensure great flow across multiple blockchains.
Disadvantages- The KCC chain is not licensed to operate in the US.
- KCC has limited payment methods
- Not so suitable for amateur traders; mostly for experienced investors.
- Lower voter turnout on the chain could lead to undemocratic decisions.
Costs▪ Rated at 10/10
KCC charges a low transaction cost. It is one of the lowest trading fees even while using the base rate. It charges a flat rate of 0.1% of every spot trade. There are no deposit fees on KCS. However, the platform charges withdrawal fees. This is dependent on the crypto.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 8/10
Its reputation thrives as a decentralised public chain in multiple forums. Its compatibility with Ethereum has users brag about its low transaction costs and lowering the threshold of developing dApps. The Kuchain Ambassador Program also has many users excited about its potential in the crypto industry. There is also growing confidence in the use of the Metamask wallet on the platform. Several KCS holders on the platform use the wallet in various engagements.
Who created Kuchain Blockchain?
Fans of KCS Community holders created the blockchain. It intends to address the high transaction costs and low performance experienced with other public chains.
Is Kuchain Blockchain only Proof of Stake?
It is a hybrid of Proof of Stake and Proof of Authority. It uses the Proof of Stake Authority mechanism in facilitating its block confirmation of below three seconds.
Will Kuchain Blockchain overtake Ethereum?
It's unlikely that the trading volumes ever come close to surpassing Ethereum. However, it is difficult to predict the future and anything can happen.
Screenshots from KCC Blockchain
Native crypto coin for this blockchain? Learn more about KuCoin Token (KCS)KCS is the native coin for KCC Blockchain. It is therefore also worth reading more about that on the link below.
›› Read our full KuCoin Token review here
Crypto site involved in the KCC Blockchain blockchain and KCSDo not miss out on reading about KuCoin who is the primary crypto site involved in KuCoin Token (KCS), hence also the blockchain itself.
›› Read our KuCoin review here
KCS is the token on Kucoin that can give you 20% lower fees.
›› Sign up at KuCoin here