This is analysis from our top analyst - the one who brought you Ziliqua and others before anyone...
Kyber Network (KNC)
this is a mid-term pick that should come to profits in this year. Analysis below.
total supply: 215.625.349 KNC
circulating supply: 134.132.697 KNC
current Price: $1.78 USD
Marketcap: $238.463.791 USD
Kyber Network is an Ethereum-based protocol that allows the instant exchange and conversion of digital assets (crypto tokens) and cryptocurrencies (BTC,ETH,ZEC..) with high liquidity. Through Kyber Network, a user can send one token to a recipient who wishes to receive the payment in another token, in a single transaction.
It will also introduce a new smart contract interface that will allow existing wallets, which only accept
certain specific tokens, to receive any existing or future token, without having to modify the
token contract code.
This Architecture allowing anyone to seamlessly receive payments from any token.
Kyber Network is a trustless and decentralized exchange that facilitates the instant conversion of crypto-assets and guarantees liquidity. You can think of it as a decentralized version of Shapeshift. Kyber Network users will be able to convert one crypto-asset to another, in a single transaction, and receive it instantly.
Unlike centralized exchanges, users will not need to go through a registration or verification process. Kyber Network does not hold any of its user's funds, so it is not at risk of any theft loss if the network gets hacked.
Users will always receive the best conversion rate available from the Kyber Network reserves.
'Reserve Managers' need to purchase Kyber Network Crystal tokens (KNC), an ERC20 token, to operate a reserve on the network. Each time an exchange occurs, the network charges a small KNC fee to the reserve.
After the proportional amount of KNC is used, the remaining tokens are burned.
The driving force behind this ambitious project is the widely respected Loi Luu, who was contributing to the Ethereum Network prior to founding Kyber Network. Vitalik Buterin participates as an Advisor.
Kyber mainnet was launched this month (on February 11, 2018), altough it is only accessible for KGT-holders (KGT is a non-transferable token that every ICO-participant received). By Q2 2018 this will change and Kyber Network will support trading arbitrary token pairs. This feature will continue in Q3, with the addition of support for trading advanced financial instruments. In early 2019, Kyber Network will support cross-chain trading.
With the stream of News about hacked or compromised exchanges doesn't seem to wear off and increasingly Exchanges are found to be bad actors themselves (think of Bitgrail and the XRB-affair), there is a need for a decentralized Exchange.
And Kyber Network with his unique Architecture involving Reserves,solves one of the biggest problems of
decentralized exchanges, which is Liquidity.
This is not a moonshot, that goes x20 next Quartal, but this is a very promising digital asset with a team that proofed that it is capable of successfully realize such a project and a smoothly working product.
KNC should make steady and noticeable gains this year.
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