KOINSWAP token or KST token believes that blockchain technology is
one of the foundations for the next generation of information
technology, alongside emerging technologies such as AR, VR, AI, IoT, 5G
and more. With the technology’s immutable and tamper-proof
characteristics, blockchain, as an infrastructural technology, is uniquely
positioned to enable unprecedented value and data transfer among a
wide set of users in a trust-less manner, boosting the efficiency and
authenticity of information transfer itself.
KST vision of lowering the barrier and enabling established business
with blockchain technology to create value and solve real world
economic problems has been clear to us from the very beginning. To
achieve and fully harness this technology that will enable mass public
adoption, we have identified the three major phases of blockchain
evolvement – Technical Consensus, Business Consensus, and
Governance Consensus. These phases will be the foundation and
strategy to enable the KST token blockchain to be adopted as the
world’s premier choice of blockchain.
TECHNICAL CONSENSUS
In this phase, technical developers are the major force to build up the
initial infrastructure protocols based on imaginations and projections.
The competition is about programming language, protocol, algorithm
and technical developer community.
Applications in this early stage of blockchain adoption are coming from
the more obvious use cases that leverage features and functionalities of
the blockchain technology, such as ICOs, DAOs, and betting
applications (or gaming with betting features), along with infrastructure
applications as needed like explorers, wallets, decentralized exchange.
Very few applications for the traditional business world are created in
this phase, much less affecting and improving business use cases and
activities. Blockchain platforms that focus on use cases such as
traceability, anti-counterfeiting, food safety, intellectual property
management, product life-cycle management and all kinds of data
provenance categories are rarely to be seen.
BUSINESS CONSENSUS
Business Consensus would be the second major phase in the
blockchain evolvement, where we will see business owners and
enterprises become the major force to drive blockchain technology
development and adoption, based on business needs and demands.
This phase is all about understanding business needs, blockchain
technology adoption and integration, user friendly interfaces, agile
system structure, and business developers community. In this phase,
blockchain applications are built to enable cross enterprise
collaborations and new collaborative values would be generated,
following the first business moves to blockchain.
The first initialization of collaborative ecosystems gets started with
common business goals and consent economic motivations among
multiple business owners including big corporations, small enterprises
and individuals. Blockchain infrastructure applications are introduced
to full fill natural business and enterprise demands, such as custodian
services, payment services, Blockchain-as-a-Service (“BaaS”), and
privacy protections along with technology evolvements.
We anticipate that large corporations with existing market dominant
positions and ecosystem resources are able to exert influence over the
adoption of blockchain technology, including but not limited to
Internet giants such as Facebook, Amazon, Google, Alibaba and
Tencent, but also traditional players such as Walmart, DNV GL, PwC and
so on. Basically, they are able to move their own existing ecosystem to
be running on reliable blockchain platforms and look for expansions
and interconnections to others.
GOVERNANCE CONSENSUS
Regulation and legislation are naturally demanded by citizens
regardless of country to protect the people and guide new technology
to maximise societal and economic utility. We believe that the ultimate
consensus in the blockchain space is the consensus among
governments and legal authorities around the world. #Creating
Valuable TXs 3 In this phase, authorities along with or against big
corporations and insightful technical players are the major forces to
drive the regulatory development of Blockchain technology and
applications.
The recent development by the intergovernmental FATF (Financial
Action Task Force) has proven that with effort, consensus among
nations and financial regulators is possible, but it is still in a very early
stage. The race for blockchain adoption in this stage is about merging
regulatory requirements with advanced features of blockchain
technology.
We believe that the key to achieving the requirements of this race is
working towards a comprehensive governance consensus for the
blockchain protocol with balanced levels of centralization and
decentralization.
At this point, more business activities are moving to ecosystems and
new collaborative business models creating new values to the world.
Besides the regulatory requirements like KYC and AML, more
supportive applications are expected to be developed and adopted by
governments and financial regulators, including the introduction of
new crypto-assets such as stable coins, settlement coins, ecosystem
utility tokens within an incentive system and so on.
With blockchain interest in the spotlight as a result of the push by nations and
governments, the level and prevalence of global collaborations is reaching to a
new maturity. Creativeness and innovations within blockchain ecosystems
with a focus on enabling new business values are popping up everywhere. The
existing Internet giants are facing their biggest challenges yet in terms of
deciding on disrupting their existing offerings in favour of blockchain
platforms, while traditional business owners that took the risk to run PoCs and
trials in the previous phase of adoption are sitting solid and concrete by
focusing on improving the essence of business through means of a mature
blockchain platform – quality and scalability of products and services. New
giants that focus on providing a reliable and proven blockchain ecosystem
would be taking over the place by taking advantage of the technology and
bringing together even more stakeholders onto the ecosystem, rallying
partners with a common goal to solve business problems.
While blockchain adoption has reached the Governance Consensus stage, it
also means that it is running concurrently with the previous phases,
progressing forward in parallel with each other. To truly provide a mature and
reliable blockchain platform and ecosystem, technology providers such as
KST need to understand that achieving consensus is a result of mutual effort
and understanding the different requirements of all phases mentioned above
Even at the Governance Consensus stage where blockchain awareness
reaches new heights, it will not be a surprise that there would still be a
sceptical feeling towards blockchain technology by existing entrepreneurs
and even traditional tech enthusiasts. When Amazon and Alibaba first started
the E-Commerce business idea and campaign 20 years ago, nobody was
confident or believed that E-Commerce is going to be the disruptive new way
of doing business, as even the adoption and practice of going online and
surfing the web was inconvenient at that time, where internet access was
limited. Yet, both Amazon and Alibaba succeeded in their endeavours by
focusing on two major factors. Firstly, they have been constantly educating
the entire world, and setting up the right motivations in the consumer’s mind
by charging minimal fees and providing incentives to sellers to move their
business online. Secondly, they have been focused on building up a powerful
and reliable infrastructure and all necessary accessibility and ease-of-use
services and tools such as one stop service for E-Commerce site, payment tool,
logistics service, digital marketing campaigns, arbitration, and shared
customer services, to enable people to take advantage of their platform even
without any E-Commerce technology and knowledge.
KST Token positioning in the blockchain ecosystem is now an Enabler,
which will enable everyone in the world to create valuable transactions
as big or small parts of future collaborative ecosystems. By working
together with our aligned partners and providing all of the necessary
tools and services, KST Token mission is to enable the blockchain
community, business owners, enterprises, governments or any other
individual to move their business activities to blockchain effortlessly,
similar to opening an online store in Amazon or Alibaba with just a few
clicks without technical knowledge required. KST will full fill our mission
and vision of achieving all phases of the consensus mentioned above by
working relentlessly.
KOINSWAP TOKEN OR KST
ECOSYSTEM
High Execution Costs: The fees needed to interact and execute
smart contracts on legacy networks are very high, often putting the
economic viability into question, and creating a barrier to entry that
undermines the security of the blockchain by incentivizing bad
miners.
Scalability & Speed: The first generation block consensus times
remain quite slow and also suffer from regular forking, making it
impossible to scale to millions of users, since the slow transaction
speeds cause congestion and fuel a lack of trust in the network.
Decentralized Finance is the fastest growing sector within the global
blockchain ecosystem, yet it’s still nascent and has much-untapped
potential. An increasing number of developers are producing
sophisticated dApps (decentralized applications) for various financial
use-cases, seeking to create an alternative to existing financial services.
These use-cases range from simple transactions (i.e., peer to peer
payments) to much more complex and multiparty applications such as
loans, asset trading, insurance, exchanges, asset tokenization, and more.
The financial industry bases most of its activities on traditional
contractual agreements, which often involve trusted third-parties to
validate the fulfilment of terms outlined in the corresponding
paperwork of the agreement. This method is outdated, slow, and, most
importantly, not cost-effective for today’s financial institutions. KST
smart contracts are basic lines of code that are stored on a blockchain
and automatically execute when certain conditions are met, enabling
developers to build dApps that are highly scalable, secure, and low cost
to execute. An essential tool for all blockchain developers, smart
contracts have accelerated the adoption of blockchain technology and
contributed to the increasing momentum of the DeFi industry as a
whole.
Unfortunately, DeFi developers are facing many challenges with
existing smart contracts options that prevent many of their dApps from
gaining mainstream adoption:
Security Issues: Legacy smart contracts have a number of bugs that
can put assets in a smart contract at risk For DeFi to be welcomed
into mainstream adoption and become an alternative for real-world
use cases, it has to solve these issues. Otherwise, DeFi will stay on
course for being a fringe use case of the financial industry and will
be known simply as an experiment rather than a legitimate
ecosystem.To advance ahead, DeFi needs a next-generation opensource, permission less blockchain that has solved the blockchain
trilemma of being decentralized, scalable, and secure with a
foundational network that has the built-in transactional speed and
low fees to power real-world use-cases. KST has become that defacto platform for many developers and is gaining traction with
many dApps being built within 1-year of the MainNet launch.
KOINSWAP TOKEN OR KST SMART
CONTRACTS AT LAYER-1
KOINSWAP Token is releasing its latest version of Smart Contracts (KST )
which provide the foundational attributes of security, scale, and
decentralization while adding the functionality directly into KST Layer-1
primitives. This allows developers to take advantage of the network
without sacrificing the speed, cost-effectiveness, and simplicity that
their applications require. KST also provides simplified tools and
examples of custom complex dApps that can serve as the basis for a
wide range of applications. Removing the technical barriers that
undermine blockchain adoption, KST Smart Contracts are highly flexible
and reliable in that they are executed on a tamper-proof (trust less)
network providing complete transparency, with error-free, immutable,
and accurate applications. KST Smart Contracts are powering
developers building large scale complex programs that can rival
existing financial services today.
Many companies and individuals prefer to create a letterhead template
in a word processor or other software application. This generally
includes the same information as pre-printed stationery but without
the additional costs involved.
Letterhead can then be printed on stationery (or plain paper) as needed
on a local output device or sent electronically. That heading usually
consists of a name and an address, and a logo or corporate design, and
sometimes a background pattern. The term "letterhead" is often used
to refer to the whole sheet imprinted with such a heading.
The benefits of DeFi applications are too many, too big, and too
important to be stalled by the shortcomings of the first generation
blockchains. DeFi gives the world access to an essentially unlimited
number of financial products and services, helping the 1.7 Billion people
who are unbanked worldwide, including in the U.S. (25% of U.S. are
unbanked or underbanked).
Check out KST other capabilities and learn how KST is designed for
building scalable, secure, and fast financial applications for the
future with: Asset Tokenization, KST Standard Assets using an easy
way to create customizable assets that can be used for Real-Time
Gross Settlement for payments.
Atomic transfers that simultaneously transfer a number of assets
among many parties instantly in a secure manner with no need for
escrow or reliance on time-locked contracts. With Truly Atomic
transfers, payment latency and counterparty risks are removed
speeding up market transactions and loosening collateral
requirement.
Rekeying offers the flexibility for users and custody providers to
changes Private Spending Keys anytime without changing Public
Addresses, giving Public address more permanence and reducing
operational overhead while allowing for account novation.
Providing a Common, Scalable Interoperable Platform standard that
speeds up application development, increases iteration and results
in faster deployments with more cost-efficient capabilities.
KST Break through Open-Source Blockchain Platform
KST was created by , a team of highly skilled blockchain experts who
are working on many protocols since 8 years in cryptography. He and a
team of world-renowned cryptographers, technologists, researchers,
and economists studied the first-generation blockchain, found several
short comings, and decided to re-construct a new blockchain – a nextgeneration blockchain that required no compromises on security,
scalability, or technical features, with advances in speed, reliability, and
usability. A blockchain that solves real-life problems that are ready for
deployment. KST protocol uses Pure Proof of Stake, has no miners, and
will never fork.
KST provides a common, scalable, and interoperable platform that
speeds up application development increases iteration, and results in
faster deployments with more cost-efficient capabilities.
HOW KST SMART CONTRACTS CAN
HELP IN KEY DEFI TRANSACTIONS
Escrow
In traditional finance, an escrow account is one in which funds are kept
locked up until some predetermined event occurs or some set of
conditions have been fulfilled. An example of an escrow-based
application is if KST needs a loan, and her lender Bob provides it on the
condition that she puts another asset aside in an escrow account that
Bob can claim if KST is unable to pay him back (a collateralized loan).
The funds can be released in either of two conditions: 1) KST does not
pay back the loan after an expiration period and Bob can claim KST
asset or 2) KST does pay back the loan prior to the expiration period and
KST can reclaim her asset from the escrow account. The event or
condition that “unlocks” the funds, in traditional finance, is usually
governed by a centralized, trusted intermediary, like a bank, and
therefore is subject to high fees and transfer friction.
On KST, this same concept is implemented using Stateless Smart
Contracts as escrow accounts. With this technology, the same two
conditions required to release the funds are encoded, and thus secured,
by the logic of the contract account itself, eliminating the need for a
centralized authority to determine if a condition has been fulfilled and
then have to moderate the transaction. Claiming funds when
conditions are met through a contract account on KST is then a simple
atomic transfer, taking less than 5 seconds with fees of less than a
penny.
