Kik Might Move Its ICO Tokens to a New Blockchain

Kik, a company that was one of the first to use an initial coin offering (ICO) on ethereum, is considering whether it might migrate its token network to a new blockchain
16 November 2017   1395

Despite the role of Kik's role in in popularizing the ICO concept, this move is not unique for blockchain startups. For example, in the past, startups token networks on top of the bitcoin network have migrated to other alternatives, most often ethereum.

The social messaging platform, which raised $98 million in its token sale earlier this year, first announced subject late last month on the Kin Foundation's Telegram tech channel. There, Kik's head of blockchain engineering and security, Leonid Beder, said that the firm was interested in "kin" token buyers' views on possible alternative blockchains that could replace ethereum.

One of the most important reasons for the exploration are the costs inherent in using the ethereum platform, as well as Kik's specific goals for its token.

Early applications for the kin token are likely to monetize what people already do on Kik for free. For example, artists currently create stickers that users can send with messages on the Kik platform. With kin, artists might then be able to exchange stickers for value.

When ethereum developers have discussed technical solutions that execute transactions off-chain to scale the protocol and lower transactions fees, those have yet to go live.

The kin ICO attracted 10,026 people who invested 168,732 ether in the sale.

TenX to Confirm Founder's Relation to Lyoness Pyramid

From 2011 to 2015, Julian Hosp was a “member” of Lyoness
10 December 2018   73

Representatives of the blockchain start-up TenX confirmed that TenX founder Julian Josp was involved in the activities of the Austrian financial pyramid Lyoness.

TenX's Reddit report says that from 2011 to 2015, Julian Hosp was a “member” of Lyoness. In the company he was engaged in marketing, sales, held lectures for other participants of the company. However, at the end of 2015, Hosp broke all ties with Lyoness.

Earlier, The Financial Telegram reported that TenX Hosp tried to remove all public data linking it with Lyoness before the ICO project. However, according to TenX, Julian Hosp never concealed that he was associated with Lyoness and even wrote about it in his book “25 Stories I Would Tell My Younger Self (2015)".

We would also like to clarify that the stories contained in the online articles and Julian’s past affiliations with Lyoness bear no relevance to TenX, and TenX has had no connection, association and/or affiliation with Lyoness at any time.
 

TenX at Reddit

According to Breaker, Lyoness is recognized as an illegal fraudulent scheme by the Supreme Court of Switzerland, the Austrian civil court and the Norwegian Gambling Council. About the connection of Hosp with the project it became known thanks to the “training” video from Lyoness, allegedly voiced by his Julian.