What is KekCoin (KEK) Crypto Beginner’s Guide
Kekcoin is a platform that is based on Radium’s smart chain software and Blockstack’s VirtualChain. It uses a Proof of Stake concept, and its intent is to help support, encourage, and share memes and give meme creators credit for publishing their memes. Kekcoin is a fully decentralized, peer to peer platform that is uncensored.
In order to combat rampant censorship on popular platforms like Facebook, Instagram, Twitter, and Reddit, Kekcoin was built to foster and encourage memes and original content on a censorship-free platform.
They created and developed the MemeChain, which allows publishers of memes to claim ownership of their work.
Kekcoin has provided a roadmap and hopes to soon release a formal whitepaper. The blockchain builds a cryptographic hash of each meme and embeds the meme on the Kekcoin blockchain. The meme then becomes unchangeable.
The meme is embedded through an OP_Return function transaction. The platform is run based on a consensus protocol which is established through a meme validation process. Kekcoin plans to utilize IPFS integration where memes will be stored on a vast network of multiple nodes. The data will be transferred quickly, and the network speed allows continual access to memes.
The MemeChain will be free to use and open source which allows users to freely contribute to the blockchain and build additional apps and features. The MemeChain will filter content using Google Cloud Vision API.
Users can create a free profile and access MemeChain from any device with an internet connection. Users can add information to their profile, and tip other users. Platform users can earn a reputation score, and tip other users with Kekcoin. The platform plans to host meme competitions among users, and reward winners with free Kekcoin.
Kekcoin has its own wallet. In 2018, they plan to launch their beta site, and allow users to test the platform. Kekcoin will run a security audit and launch MemeChain API v 1.0. They plan to hold an airdrop and give away a select number of Kekcoin tokens by Q3 in 2018. Kekcoin will continue to market its platform, update its blog and social media accounts, attempt to launch its coin on multiple exchanges, and recruit developers.
In 2019, the platform hopes to have an Oracle on the Kekcoin MemeChain and offer user support, implement a lightning network to enhance speed, and provide electrum and mobile wallet support. The platform continues to research ways to make Kekcoin transactions confidential, create MasterNodes, and implement Schnorr signatures.
Kekcoin will use an advanced PoSv3 codebase utilizing segwit, which helps support the consensus driven protocol. Users who stake Kekcoin will receive between 10-15% returns per year. Kekcoin with exclusively be airdropped and can’t be mined.
There are currently 21 million Kekcoin (KEK) in supply, and 11 million KEK available and circulating. The Kekcoin blockchain block time is 1 minute, allowing for quick transactions. Kekcoin is a Bitcoin based blockchain, and currently 1 KEK is worth $0.07 and .0000103 BTC. The current market cap for KEK is $749,514.00 or 115 BTC. The blockchain also uses a Bitcoin-core 0.13 codebase.