Bitcoin.com Media
Bitcoin.com is the premier source for everything cryptocurrency related. Contact [email protected] to talk about press releases, sponsored posts, podcasts and other options.
Explore the value behind KCC through KCC Validator Options – Sponsored Bitcoin News
sponsored
With the development of the public chain and the increasing use of blockchain technology, public chains initiated by crypto exchanges are gaining more attention. Based on the advantages of the exchange’s pioneering technology team, the exchange’s public chain has clearly differentiated itself from the rest. KuCoin Community Chain (KCC) has been established for more than a year. As a community-driven chain of the well-known exchange KuCoin, what is the value behind KCC?
An In-Depth Look at the KuCoin Community Chain (KCC)
16 June 2021, KuCoin Community Chain (KCC), a high-performance decentralized public chain based on EVM, was officially launched by the KCS community. It aims to solve the problems of low performance and high costs of many public chains. It gives users a safe and stable decentralized experience.
As the public chain of KuCoin, KCC plays a crucial role in the entire KCS ecosystem. On March 29, 2022, KCC released the KCS Whitepaper together with the KCS Management Foundation and KuCoin. The whitepaper pointed out that the KCC is the key to the current development of the KCS ecosystem as the KCC represents the basic infrastructure. Since the release of the white paper, the public has also seen a closer connection between KCC and KuCoin. Not only do they often appear together at major events, but KuCoin Labs and KuCoin Ventures have also invested and incubated several projects at KCC, including Torches Finance, MojitoSwap, BitKeep, Idle Stoneage, Klein Finance and xHashtag. Meanwhile, KuCoin has listed several projects of KCC such as MojitoSwap, OpenLeverage, CoolMining, Pikaster, etc. MojitoSwap and OpenLeverage are also top 2 in KCC Unicorn Contest. It provides a clearer development path for KCC projects.
Therefore, 2021 is more like a ground-building phase for KCC. And since 2022, the KCS ecosystem has provided more and more support to KCC. KCC now acts as the bridge connecting the decentralization and centralization of KuCoin. With the continuous development, both are expected to become one-stop service entrances to the metaverse world.
Do you find your favorite projects there? 👀
More than 60+ projects on #KCCEcosystem already 🥳
Excited about future growth🔥🔥🔥 pic.twitter.com/BTT6u38zmR
— KuCoin Community Chain (KCC) Official (@KCCOfficialTW) 6 July 2022
KCC also took many measures to increase democracy in the chain and to further achieve DAO governance. On October 21, 2021, the KCC GoDAO Foundation was established. GoDAO gives everyone an equal opportunity to join the community and gives them the right to vote for important decisions. With the further development of the KCC ecosystem, KCC will delegate power to KCS holders and contributors, empowering them to govern and serve themselves, and to build a more efficient, autonomous and community-driven KCS ecosystem.
Moreover, the KCC activated the KCC Validator Election on June 16, 2022, aiming to further improve the stability and decentralization of the KCC ecosystem. KCC Validator The election does not limit the number of participants. Organizations or users can apply and become candidates. The active KCC validators are node candidates with management rights. They operated the blockchain network by processing transactions and signing blocks. Active validators can receive the gas tax revenue at KCC. KCC Validator The election will dynamically select 29 nodes to become active validators based on the amount of KCS that nodes staked. Users can select nodes on KCC to stake KCS and share KCC validator block rewards and KCC subsidy rewards. If you are interested in applying for KCC Validators, please email the official KCC email address ([email protected]) for the application link and more details.
In general, KCC Validator Election is an important use of the POS mechanism. But on top of POS, it gives the current node enough rights. By enjoying the benefit of gas tax dividends, investors are more willing to hold KCS. At the same time, since users voted for validators with only a minimum vote amount on KCS. This further reinforces investors’ desire to keep KCS in the volatile market. On the other hand, it can increase the TVL on the chain of KCC, and it will also reduce the circulation of KCS through lock-up, which increases the scarcity of KCS.
KCC Validator Election not only connects the entire KCS ecosystem more closely, adding KCS usage scenarios, but also allows KCS holders to experience the decentralized world at a low cost. You can look forward to more strengthening of KCS in the future.
Furthermore, KuCoin Ventures’ investment in Torches marks KCC’s dedication to building a strong DeFi infrastructure. It is reported that Torches received investment from KuCoin Ventures just 10 days after launch. Subsequently, Torches formed a partnership with KuCoin Wallet on July 9. KuCoin Ventures described itself as “discovering the most revolutionary project of Web3.0”. And Torches, as a lending protocol on KCC, is most likely one of those products.
“Discovering and incubating high-quality projects at KCC through several incentive activities is the main goal of KCC this year. Because of that, we announced a $50 million ecosystem accelerator program at the beginning of the year and held the KCC Unicorn Contest in the 2nd quarter. We hope to improve KCC- the ecosystem from various aspects through project incubation, developer rewards, liquidity support and ecosystem project competitions/hackathons. With the innovation of blockchain technology, KCC will gradually move from 1.0 to 2.0 and finally achieve multi-chain compatible 3.0. With the promotion of validator election, KCC will cooperate with the community to promote the decentralization process and create a community of interest that can benefit both users and protocols.”
Overall, KCC will deeply integrate with KuCoin and the entire KCS ecosystem in the future, push more incentives and delegation of management rights on the chain (KCC Validator Election), and build a public exchange chain with a focus on decentralization. You can expect a revolutionary DeFi project coming out of KCC sooner or later.
This is a sponsored post. Find out how to reach our audience here. Read disclaimer below.
Photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
