After working for some months on two blockchains simultaneously, Kik has taken a decision to stop building on Ethereum and to work with Stellar only.
The Kin Foundation and kik creators have made a multi-million dollar bet. They will pay to 25 developers $3 million to create and maintain independent “kin economies” over a six-month period.
The transfer of tokens across two blockchains will be done through atomic swaps. The Ethereum blockchain will be used for liquidity and the Stellar platform for transactions.
Popular messaging app Kik is moving its Kin tokens from the Ethereum network to the Stellar network sighting issues with speed, reliability and costs.
With the launch of its own virtual currency, the company aims to build an open and sustainable ecosystem of digital services to compete with established giants.