Kyber Network

KNC

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Kyber Network
A decentralized, on-chain liquidity mechanism called Kyber Network intends to make trading tokens easy, effective, reliable, and secure. A white paper that was released in August 2017 provided an overview of Kyber Network. A white paper that was released in April 2019 provided details on the Kyber protocol. Through smart contracts, it attempts to simplify token transactions on the Ethereum platform. To increase on-chain liquidity, Kyber Network smart contracts were created to combine liquidity from various reserve pools. Any decentralized application can use Kyber Network as a liquidity infrastructure to transfer, exchange, or otherwise interact because of the network's open source design. The cryptocurrency used to purchase services on the Kyber Network is called KNC. It is constructed on Ethereum and adheres to the ERC20 token standard. KNC can be purchased and traded in exchange for fiat money or other virtual currencies.
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