- KuCoin Community Chain (KCC) is now live
- The KuCoin Community Chain (KCC) was a collaborative effort between KuCoin and KCS fans
- KuCoin Community Chain’s mission is to provide the community with a faster, more convenient, low-cost experience
- KuCoin Token will be the native token of the KuCoin Community Chain
- KCS token could thrive with the introduction of the KuCoin Community Chain
The KuCoin Community Chain (KCC) is officially live. The launch of the decentralized blockchain was announced earlier today by the team at KuCoin who also thanked the KCS fan base, for being part of the development process that created the KuCoin Community Chain.
Features of the KuCoin Community Chain (KCC)
The KuCoin Community Chain (KCC) is fully compatible with Ethereum and its ERC20 smart contracts. The compatibility with Ethereum will allow for the low-cost migration of decentralized applications and tokens onto the KuCoin Community Chain. It will also provide a familiar environment for the developers of new decentralized applications on the KuCoin Community Chain.
As earlier mentioned, the KuCoin Community Chain was built by fans of KCS and the team at KuCoin Crypto exchange. Its main goal is to solve several problems plagued by blockchains such as low performance and high cost. It will achieve this by providing users with a ‘faster, more convenient and low-cost experience’.
KuCoin Token (KCS) Value to Benefit From its Utility on the KuCoin Community Chain
Of particular importance, is the role the KuCoin Token will play in the KuCoin Community Chain ecosystem.
According to the KCC website, KuCoin Token (KCS) ‘is the only fuel and native token for KCC and can be used to pay gas fees’. Such utility means the value of KCS will benefit from increased demand for the token to power transactions in the KuCoin Community Chain.
The team at KuCoin has already started the migration of some KCS from Ethereum to the KuCoin Community Chain mainnet. The supply of KCS will not change during the migration process.