What is Kyber Network?

 

The Kyber Network is an Ethereum-based protocol that permits “instant exchange and conversion of high-liquidity digital assets such as password tokens and cryptocurrencies such as Ether, Bitcoin, and ZCash.” Kyber is similar to the 0x project of behavior on the blockchain.

Centralized exchanges are constantly being attacked due to their security vulnerabilities and slow processing time. In some cases, it may take several days to withdraw funds from the exchange. Popular decentralized transactions also have their drawbacks. They usually do not have enough liquidity to support active transactions, and when the order book is kept on the chain, the cost of changing the transaction may be high.

We can conclude that Kyber Networks is an interesting protocol that brings speed, security, and mobility to the cryptocurrency exchange process. This project uniquely combines storage warehouses with online transactions to obtain the best centralized and decentralized systems. The price of KNC has not been reflected, but the Kyber team has been creating results since it recently released the test network and cooperated with several well-known blockchain companies. With the loading of the roadmap, 2018 may be the year that Kyber Networks dominates the exchange space.

Asked on June 29, 2018 in Altcoin.
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