Kyber Network (KNC)

$ 0.725382 (6.44%)

$ 0.725382 (6.44%)

# Change
(7d)
Market Cap Volume (24h) Circulating Supply
61 = $130,243,292 $66,792,910 211,432,813 KNC
Kyber Network (KNC) - Historical Price Chart

About Kyber Network

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Kyber Network is a new decentralized exchange that allows for instant trading and conversion of cryptocurrency. Kyber transactions occur via smart contracts and no funds are held on the exchange. Kyber will utilize a network of reserve operators, who will maintain a reserve of all tokens to provide liquidity for transactions. Kyber claims that it will have no waiting time for confirmations and no deposits will be required. Users can get their tokens as soon as the transaction is put on the blockchain. Users will know the conversion rate before sending the transaction and receive the corresponding amount.

KyberNetwork will convert and exchange tokens securely and instantly. At the moment, KyberNetwork does not collect any fees from the users’ exchange transactions. Users can pay anyone in any token with their own tokens. Kyber performs the conversion and forwards the payment. Users can hedge against price fluctuations by engaging in forward transactions. Users can receive payments in Bitcoin and other cryptocurrencies in Ether.

KyberNetwork does everything on-chain because off-chain channels do not provide settlement guarantee, relies on trusted third parties and has low compatibility with Ethereum smart contracts. KyberNetwork can provide instant liquidity because they have a reserve system. Initially, Kyber will be the sole reserve manager to ensure they have the tokens available when users request an exchange. Over time, anyone can become a reserve manager, provide liquidity and earn income from the role. 

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