Kylacoin = Open Source Peer-to-Peer Electronic Cash System. Discover the characteristics of this ecosystem, its advantages and objectives.
Kylacoin is a blockchain ecosystem with a store of value that promotes scalability and interoperability.
Here is a cryptocurrency designed to act as money and a form of payment system outside the control of a person or a group, that operates free of any central control or the oversight of banks or governments.
Kylacoin can be obtained through a process called proof-of-work mining, or simply mining. Anyone can sell it and buy it without an intermediary like a bank. This ecosystem enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol with the help of cryptography.
The transactions are verified by the network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Kylacoin is a medium of exchange, such as the US dollar, but is digital and uses cryptographic techniques and its protocol to verify the transfer of funds and controls the creation of monetary units.
5 features and benefits:
- Decentralized – there is no central authority involved. Everything is stored on the blockchain, and it’s copied to the peer-to-peer network.
- Anonymous – your wallet address has no information attached to it. You only hold the keys.
- Secure – only the person who holds the keys of a wallet can spend that amount.
- Instant – you can send and receive transactions without an intermediary any time.
- Open source – the source code is accessible to everyone. Anyone can review it, copy it, compile it, and run it. There is no secret behind the project.
In conclusion, , $KCN – Kylacoin is a layer 1 blockchain ecosystem with a store of value that promotes scalability and interoperability.