What is Kyber Network?
The Kyber network development began in 2017, founded by Loi Luu, Victor Tran, and Yaron Velner and headquartered in Singapore. Kyber was built on the Ethereum platform as an on-chain liquidity protocol. Its function is to aggregate liquidity from various sources to provide instant transactions with advanced security on any decentralized application, or DApp. The target-goal of Kyber is to enable DApps, DEXs (decentralized exchanges), and numerous other types of users easy and instant access to a liquidity pool offering the best available rates.
The Kyber network claims to be the most used DeFi protocol in the world.
How Does the Kyber Network (KNC) Work?
The Kyber network was created on-chain, meaning any available Ethereum block explorer can easily verify it. User’s projects built on top of Kyber can easily use all the services of the protocol. These include the instant settlement of tokens, a customizable business model to fit their needs, and liquidity aggregation.
The main goal of the Kyber Network is to solve the issue of liquidity in the decentralized finance industry marketplace by allowing developers to build their products or services without the need to worry about available liquidity.
KNC, or Kyber Network Crystal, is the native-platform utility token connecting users within the Kyber network. A KNC holder can use their tokens to help govern the KyberDAO platform and be rewarded with Ethereum’s coin Ether, which can be used with any application created on the Ethereum network.
Kyber was created with developers in mind for users to instantly transfer tokens to one another and enable them to adapt the protocol for implementation with other decentralized apps, DApps, and other blockchain-based apps or protocols. Smart contracts govern the distribution of liquidity within the system.
Like other cryptos, Kyber launched a DAO to provide users the opportunity to assist with the network by voting on import proposals. The design of the Kyber network makes it easy to maintain transparency and verifiability, ensuring user confidence.
What are Kyber Network Frequenty Asked Questions?
Where does Kyber Network (KNC) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Kyber Network currently ranks in position 112 out of the thousands of cryptocurrencies. It is also important to consider Kyber Network‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Kyber Network has a market cap of $ 393,852,080, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 874,675,753,917, Litecoin at $ 11,590,899,650, Ethereum at $ 171,712,099,401, Tether at $ 36,309,551,516, and XRP at $ 21,210,821,502.
What is the price of Kyber Network (KNC) today (updated in realtime)?
The current price of Kyber Network is $ 1.93 in USD. (The price in Euros is 1,60 €; and the price in Bitcoin is Ƀ 0.00004100 BTC.)
What is Kyber Network‘s (KNC) market supply?
The total available supply of Kyber Network is 204,624,681 KNC. The total supply of Kyber Network is 210,263,179 KNC.
What is the 24 hour volume for Kyber Network (KNC)?
The 24 hour volume for Kyber Network is $ 162,235,142.
How has Kyber Network (KNC) performed recently?
Kyber Network‘s price has increased in the last 24 hours by 3.68%. This compares with a seven day change of 18.56%. The trading volume over the last 24 hours was $ 162,235,142. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Kyber Network (KNC) official website?
Links to Kyber Network‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Kyber Network (KNC) performed well historically?
Here is a chart showing how Kyber Network has performed historically.
Where Can I Buy Kyber Network (KNC)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
Kyber Network News
- A dark horse in the Ethereum scaling wars? Chainlink’s oracles find fertile ground on xDaiCointelegraph.com News - 7 hours agoChainlink is rolling out support for xDai, a layer-two sidechain whose perceived centralization hasn’t stopped major DApp players. Chainlink (LINK) oracles have made their way…
- Binance Smart Chain 'copykat' project loses $31 million in possible rugpullCointelegraph.com News - 8 hours agoUsers now need to ask: how many more protocols are at risk? At roughly 9 am UTC today Meerkat, a decentralized finance (DeFi) protocol on…
- Unslashed Finance raises $2M for crypto insurance platformCointelegraph.com News - 10 hours agoInvestors include Lemniscap, P2P capital and others. Unslashed Finance has sold $400 million in coverage since its private launch last month. Unslashed Finance, a decentralized…
- BitGo receives trust license from New York regulatorsCointelegraph.com News - 10 hours agoGoldman Sachs-backed crypto custodian BitGo has acquired a New York Trust license to operate as an independent custodian in the state. Major American digital asset…
- Where does the future of DeFi belong: Ethereum or Bitcoin? Experts answerCointelegraph.com News - 11 hours agoHere’s what decentralized finance experts think about either Ethereum or Bitcoin as the future of DeFi. Decentralized finance is one of the most promising and…