mainnet-of-kucoin-community-chain-(kcc)-launched-to-promote-kcc-ecological-plan

Mainnet of KuCoin Community Chain (KCC) Launched to Promote KCC Ecological Plan

 

KuCoin, a global leading crypto exchange, announced that the mainnet of KuCoin Community Chain (KCC) (official website: https://www.kcc.io) is officially launched today. Built by the fans of KCS and KuCoin, KCC is an Ethereum-based decentralized public chain with high performance. KCC features high throughput, low latency, low transaction cost, and satisfactory security and stability, aiming to provide community users with faster, more convenient, and lower-cost experiences.

The public chain is the most important infrastructure in the cryptocurrency industry, but with the emergence of a growing number of decentralized applications such as DeFi and NFT, the existing public chain technology can hardly support such large-scale and complex commercial-level applications. Currently, problems such as low performance and the high cost of the public chain adoption have impacted the user experience, becoming one of the problems that hinder the large-scale application of blockchain technology.

KCC introduced the Proof of Staked Authority (PoSA) consensus mechanism and reduced the block confirmation period to 3 seconds to improve the processing power and performance on the chain. At the same time, KuCoin Token (KCS) is used as the only fuel for KCC to reduce transaction costs. Thus, KCC has successfully achieved faster transaction confirmation speed, higher transaction performance, and lower transaction fee.

In addition, KCC is compatible with Ethereum and ERC20 smart contracts, which offers extremely low migration costs for projects. It will improve the user experience by lowering the threshold for the landing and development of decentralized apps, while at the same time providing community users with a more convenient, faster, and lower-cost blockchain experience. As one of the KCC community members and angel investors, KuCoin provides financial and technical support for the early development of KCC.

“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 Johnny Lyu, CEO at KuCoin Global, “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.”

With the mainnet launch, KCC will initiate the “C Plan”, namely the KCC Ecological Plan, which includes a bunch of innovative projects such as the Grants Program, node voting,etc. The plan will support a wide range of projects, including on-chain ecological applications such as wallet, block browser, decentralized exchanges, as well as projects built on traditional finance and supply chains. In addition, the plan will also support and encourage the deployment and development of various tools and Dapps based on the KCC public chain, while operating in a decentralized manner, thereby enriching the KCC ecosystem.

KuCoin will migrate KCS to KCC’s mainnet with the launch of KCC. The number of KCS migrations is 100,000. KuCoin will lock up an equal number of ERC20-KCS on the Ethereum network while releasing the same amount of KCC-KCS on the KCC network. The total circulation of KCS will remain unchanged during the migration process. More mainstream crypto assets are expected to be transferred to the KCC ecosystem in the near future to enrich its asset ecosystem. KCC also plans to launch an asset cross-chain bridge to support users in transferring cross-chain assets on their own.

kucoin-partners-with-cashaa-to-combat-covid-19-crisis-in-india-through-distribution-of-daily-supplies

KuCoin Partners With Cashaa to Combat COVID-19 Crisis in India Through Distribution of Daily Supplies

 

KuCoin, an IDG-backed crypto exchange, announced today that it has partnered with Cashaa, a blockchain-based financial platform, to jointly initiate charity campaigns to help people cope with the increasingly severe challenges of COVID-19 in India.

Latest statistics show that India’s COVID-19 cases have surpassed 25 million as mutations spread across the globe. What makes things worse is that the virus crisis is pushing up the cost of living as the shortage of daily supplies has been seen in many Indian cities. As part of KuCoin’s charity initiative in India, the crypto platform has pledged ₹2 million worth of food and daily supplies, and these goods will be delivered to the families in need with the help of Unicas, the world’s first crypto bank powered by Cashaa.

The first batch of food and daily supplies including wheat, rice, dal and salt has started to be distributed to people in Jaipur, Delhi, and Patna earlier today, and more families will be covered in the following days. It is noticed that each ration kit will be able to feed a family of four for up to two weeks.

“As a global exchange, we pay close attention to the COVID-19 situation as it spreads across the world,” said Johnny Lyu, CEO at KuCoin Global. “Knowing its outbreak in India and considering the daily nutritional needs are at the edge for millions of people during the quarantine, as the People’s Exchange, we are pleased to take our responsibility to help local people address these challenges brought by the COVID-19.”

As the COVID-19 has continued to deteriorate in India since April, KuCoin launched a charity fund with an initial investment of ₹1 Crore on April 28, 2021. The fund is dedicated to assist local partners and NGOs in providing much-needed support to residents in those cities with insufficient resources to fight against the pandemic.

“Unicas started the initiative #NoOneSleepsHungry to address the root cause of hunger and that it does not become the reason for anyone to suffer amidst the ongoing COVID-19 crisis. With our distribution of 1,000 ration kits with essential food supply, the campaign has positively affected the lives of several people in Jaipur, however it’s not enough,” said Dinesh Kukreja, CEO of Unicas. “We are grateful to join hands with KuCoin to facilitate the underprivileged and needy in these dire times and extend this initiative to two other cities and provide support to 2,000 families.”

As one of the first crypto trading platforms to enter the Indian market, KuCoin is committed to supporting local blockchain startups, listing promising crypto gems, providing Indian Investors with safe and easy-to-use trading services, as well as contributing to the mass adoption of blockchain. It believes that the technology has the potential to facilitate the free flow of value, upholding the well-being of all people.

As the next step of its charity initiative in India, KuCoin has partnered with Adim Sanskruti, a Pune-based Non-Governmental Organization (NGO), to extend the daily supplies distribution to Pune, the second largest city in Maharashtra in a few days, and it is anticipated that another 750 families will be benefited.

kucoin-enters-nft-market-with-the-plan-of-launching-nft-exchange

KuCoin Enters NFT Market with the Plan of Launching NFT Exchange

 

On November 13, 2020KuCoin, an IDG backed exchange, announced that its liquidity trading platform Pool-X will open the deposit service of Dego.Finance NFT assets on November 16, and the withdrawal service on November 20. In the next few months, Pool-X will officially launch the NFT exchange platform and support NFT trading service. As the first major crypto platform to support the deposit and withdrawal of NFT assets, KuCoin will continuously contribute to the NFT industry in the long term.

NFTs (Non Fungible Tokens) have rich application scenarios in different fields such as collectibles, artwork, and GameFi. Its unique and indivisible attributes have increased market acceptance. NFT is regarded as the next trend in crypto following DeFi as its value is increasingly recognized by the market. According to a report released by the NFT data analysis website NonFungible.com, NFT transaction volume in the first half of 2020 soared to $230 million, an increase of nearly 300% year-on-year. Active users reached 78,881 with an increase of 5.7%.

KuCoin’s support on deposit and withdrawal of NFT assets indicates that NFTs will soon enter the centralized trading platform for circulation. At present, trading NFT assets is difficult for users because many of them are unfamiliar with on-chain transactions. The centralized trading platform will greatly reduce the threshold of trading NFT in an easy and user-friendly way. The centralized platforms will also become an important channel for the popularization of NFT concepts and the improvement of NFT liquidity.

Johnny Lyu, CEO of KuCoin Global, said: “KuCoin is paying close attention to the NFT market. Although NFTs don’t have enough market attention at present, the potential is great. Moreover, it has many application scenarios in insurance, bonds, options and other fields. It can even create a virtual real world on the blockchain. So, we launched the NFT Trading Board to facilitate users’ participation in investing NFT. And we donated 100,000 KCS to Dego.Finance to help its development. In the future, we will do more to solve the problems encountered in the NFT field and to build a prosperous NFT world.”

KuCoin is a global crypto exchange that supports multiple crypto asset transactions. Established in September 2017, KuCoin has grown into one of the most popular crypto exchanges in the world. It currently provides spot trading, P2P fiat trading, futures, Pool-X, and lending to its 6 million users in 207 countries and regions around the world.

SOURCE KuCoin