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We understood from our previous discussuion on the kencoin foundation that kencoin is an anomymous cryptocurrency for adult entertainment industry. It can be used to anonymously make purchase of adult contents on websites where they are accepted or at offline merchants' locations.
Our focus now is on the coin itself - its technology, and how you can safely manage/store them. We'd also take a peep at other interesting facts such as the marketing strategies of the project, the team behind it, etc.
Kencoin is a smart conract on the ethereum blockchain. This of course implies the token can be securely stored in any ethereum wallet. It can also be stored on an exchange where it is traded tho this is not recommended for a long term storage. The kencoin foundation has also made provision for wallets wherein users can easily store their coins. These wallets would be of two types: spending wallet and merchants wallet.
Spending wallet:
This would be made availale for every user on the kencoin foundation. With this wallet, consumers would be able to easily make purchases with their coins be it online or offline. The wallet operates like any ethereum wallet since it adopts the ethereum blockchain technology. The wallet would be able to receive details of a merchant’s wallet when customers purchase goods/services from them.
Merchants Wallet:
As the name indicates, this wallet would be used by vendors/merchants in the adult entertainment industry who support/receive kencoin as a means of payments for contents/services purchased/delivered. This wallet serves as a spending wallet for vendors/merchants; it is also here they would store their kencoins which they receive from sales or purchase on exchanges. By virtue of the nature of this wallet, the vendors would be able to create multi-signature wallets to store their tokens as they see fit.
The wallet would also enable vendors to instantly convert their received tokens to any currency or cryptocurency of their choice. This effectively checks the risk of price fluctuations which is very common in the crypto sphere as vendors can easily swap their tokens to preferred currencies to ensure it meets their expectations in those currencies.
The merchant wallet would be continually a work in progress. It would be constantly adapted to meet market needs and evolving needs of merchants.
Kencoin, as earlier stated, is created on the ethereum network. A total of 1 billion kencooin was created. About 600 million out of these were budgeted for sale during the ICO; and 35 million of the total created have beee reserved to be gradually released to industry websites and like platforms over time. Kencoin would not be mineable. That is to say no token would be created further since after the TGE.
The kencoin ICO has since been completed with huge success. The token is now tradable on etherdelta. You can get yourself a some handfuls now while it is yet cheap. The price is sure to rocket when it reaches other major exchanges.
About $800k was raised during the token generation event. These funds would be used for developing and marketing the kencoin project. A good portion of it would also be used to back related researches as well as spread the adoption of the kencoin in the adult entertainment and dating industry.
The kencoin team and its marketing strategies
Kencoin foundation has a team of professionals most of whom have good experiences in online gaming industry as well as the adult entertainment sector and other corporate/non-corporate sectors. The team thus far has registered the project as a non-profit foundation in Switzerland thus, the foundation would be compliant with the swizz law.
Kencoin foundation has also recorded milestone achievements with respect to partnerships. Kudos to the ever hardworking team. The foundation has in a short time, partnered with major vendors in the adult industry both online and offline such as crushdaddy, etc
Not forgetting to highlight the marketing strategies the team has adopted in promoting the project. These include but not limited to the following:
Email marketing
Paid advertising
Search engine optimization
Its blog
Strong and wide public relations
Social media, etc
So far, these strategies have met with resounding successes. And it all but indicate seriousness on the part of the team. Little wonder the project has achieved such wide partnership in a short time.
The kendcoin foundation team is composed of the following resource persons:
Laurent Chekroun – CEO
Nicolay Livadkin – COO
Michael Rabi – CTO, etc.
To name but the few.
For more information on the kencoin project, do visit their official website at https://kencoin.org/
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