Cryptocurrency exchange, Kucoin, have launched the mainnet of their Kucoin Community Chain (KCC,) it’s 3 second blocktimes promise higher throughout, and lower transaction fees.
Victoria, Seychelles registered cryptocurrency exchange, Kucoin, on Wednesday, the 16th of May, 2021, announced the official launch of its Ethereum-based blockchain mainnet, the Kucoin Community Chain (KCC.) Kucoin’s KCC public chain was designed to offer improved user experience, over other platforms, by being a high-throughput, low-latency, low cost, and highly secure blockchain.
There is, virtually, no denying it, digital assets are currently in their adoption heyday. The explosion of the NFT, and blockchain sectors have driven the wide use of blockchain powered marketplaces and Decentralized Applications have rendered legacy public chains too slow, and too expensive to use.
Being unable to keep up with mass use, most existing blockchain transaction fees, due to mass-use, have recently been reported to have ballooned to levels so extortionate that they are virtually unviable for large scale commercial use. Throwing a dog in the fight for mass-scale blockchain-based commercial activity, Kucoin has introduced the KCC chain to address the low performance, and high costs, notorious with a number of legacy chains.
To promote high-use, the Kucoin Community Chain, developed in partnership with the Kucoin user community, features a new PoSA (Proof of Staked Authority) consensus pathway, and a three second block creation interval, which – claims the firm – increases on-chain data processing capabilities.
“We believe that blockchain technology will accelerate the flow of value around the globe. We take it as our mission and will make great efforts to achieve it for the future,” said CEO of KuCoin Global,Johnny Lyu “KCC also represents a key step towards decentralization beyond the integration of open-source blockchain communities. We welcome the community members and enthusiasts of the blockchain world to hold hands and promote the development of KCC and blockchain technology.”
The Kucoin, digital asset exchange’s native exchange token, $KCS has been adopted as the platform’s native asset. The $KCS token will facilitate fee discounts that will drive platform use, by developers, and regular users. DApp developers will be able to port their projects to the KCC blockchain infrastructure, and develop with lower entry barriers and technological restrictions, while users will benefit from faster, lower cost DApps.
The company’s launch of the KCC mainnet, forms part of its Ecological Plan, which includes the introduction of a Grants Program, for projects building on the KCC ecosystem, as well as other platform beneficial activities. While the firm plans to connect KCC to other blockchains, it also hinted at mainstream projects joining the fold in weeks to come.