Place/Date: Argentina - January 2nd, 2019 at 9:03 pm UTC · 2 min read
Contact: Renzo Barrionuevo, Project Manager, Bitprim, Source: Keoken
They’re calling it the ‘AirFork,’ and it allows BCH holders to receive second-layer tokens without purchasing them or burning their precious Bitcoin Cash.
The AirFork works by sending tokens to BCH holders at a 1:1 ratio based on the Unspent transaction outputs (UTXO) table. In other words, at the time of an AirFork, whoever is holding BCH will receive tokens.
Commenting on their reasoning for creating this token distribution method, Keoken told press:
“As part of our innovative approach to the market’s needs, we wish to introduce an evolution of these methods to token issuance. One that we consider fitting better into the requirements of a platform that will work as a second-layer solution.”
Keoken will launch the first AirFork sometime in early 2019. The team has marked February 1, 2019 as a potential launch date, but it’s still subject to change. This initial AirFork will distribute KEO, the native token that will power the Keoken platform.
KEO will be used on the Keoken platform to power its various services, ranging from smart contracts to the development of other second-layer tokens on the BCH blockchain.
Once the KEO tokens are distributed to AirFork participants and the Keoken platform is live, token holders will gain voting rights. With these rights, holders will be able to elect delegates, who will then be tasked with making decisions on changes to the platform. For a full explanation of how this delegate system works, visit the platform’s official website.
This project is aimed at providing second-layer solutions for the Bitcoin Cash blockchain, including wallets, token issuance, and smart contracts. The Keoken team is backed by Bitprim, a blockchain development firm founded in 2014. Bitprim provides products and services for all cryptocurrencies using the original Satoshi client but has focused mainly on developing solutions for Bitcoin Cash as of late.