Kik social app and its cryptocoin Kin
Kik Messenger is a Canadian app which offers instant free messaging. Kik is similar to WhatsApp messaging, iPhone iMessage and BlackBerry messaging.
A few months ago, the company announced that it would join the significant era of cryptocurrencies. The cryptocurrency will serve in the App to buy different packages or articles that will make the conversations more interactive and will have a programming language the integrated Turing.
KIN cryptocoin: for instant messaging
On the other hand, it is a cryptomontage that was developed in Canada, specifically in Ontario, by the company KIN Interactive, which is the owner and founder of the Kik application.
Therefore, this cryptocurrency is intended to work for various options of the Kik application. Thus, KIN will help in the purchase of products, packages, games, and even to make donations.
On the other hand, the fundamental objective of the KIN cryptocurrency is to unify the Kik community. It will provide a new concept of the economy for mobile devices, thanks to the implementation of Blockchain technology.
Thus, KIN is not only a decentralized system aimed at mobile devices, since it also adopts the behavior of foundation, which is non-profit and will benefit the members of this ecosystem.
Kik’s almost death and revival
Canada’s social networking and messaging application Kik had announced losing a legal battle that would force them to shut down the Kik app, to focus solely on the growth of their Kin cryptocurrency.
However, at the beginning of October, they revealed that Kik is “here to stay,” in an apparent reversal of previous plans to close in the midst of legal difficulties.
In an official tweet published on October 13, the company announced: “Good news: Kik is here to stay! And there are some really exciting plans to further improve implementation. More details coming soon. Stay tuned.”
Kik was involved in a costly legal battle with the U.S. Securities and Exchange Commission (SEC) over the designation of its initial currency offering, and the regulator sued the company for making an allegedly unregistered USD 100 million token offer.
Straight to the core
Future details about the deal that would change the game are yet to be announced, Kik’s apparent decision to close had been harshly criticized among community members. The cryptocurrency Kin has also experienced a steady decline, no doubt partly because of wider market conditions, but also because of the company’s seemingly intractable difficulties.
The company has now closed a deal with MediaLab, who have acquired the Kik application and continue with improvements for the App, while the Kin cryptocurrency opens the way in the financial market.