A clear review about Darwinia was shared some days back and it was noted as a bridge blockchain it has that tendency to connect different chains via cross-chain technology and can be connected as a para-chain to the Polkadot Network. Blockchain networks or smart contracts as only one entity which is to perform operations by themselves and every activity were contained within without any significant communication with other blockchains.
With this clear concept, there is a limitation on the potential of blockchain networks. If the blockchain could communicate with each other and work together, let's mitigate weaknesses and synergize strengths, as well as pool security. Enter with me into another one of Polkadot’s offerings – Darwinia.
The Commitment Token Of Darwinia (KTON)
RING token is the utility token for Darwinia as explained in the first review. KTON is technically a derivative of RING tokens. Whenever the RING is staked for 3-36 months, stakers generate KTONs as rewards and compensation for liquidity loss. This process propels users to hodl and commits to long-term lock periods.
Note: The KTON each staker receives is proportional to the RING staked, as well as its duration.
How Valuable Is KTON?
The KTON token creation theory is based on “future commitment”, which means how long one promises to hold a token in the future, which is definitely the basis of proof of stake mechanism. As at the time of writing this article, 1 KTON is $67.08 on coingecko and trading on 4 exchanges (Hotbit, CoinEx, MXC, and UniSwap).
The value of KTON can be traced to
Governance is a feature common in decentralized finance though this feature is still in progress as the mainnet is still is a progressive phase.
2. POS Mining
KTON staked provides the computing capability of traditional web and network service to serve the users in the Darwinia Network
3. Staking Power
4. Dapps Registration
In Dapps registration there is token for this operation and when this is finalized, it's very possible to receive an update on this since KTON is the commitment token.
Are you thinking of staking?
Darwinia network is making the gaming industry rewarding as they engage in assets migration and usage of NFT asset profitable in multiple blockchains.
In conclusion, it's a great deal to see Darwinia as a part of the Polkadot ecosystem, with this project the security is guaranteed and functionality enhancement for Darwinia is provided by a wider network with close research gathered. Yes, Darwinia is still developing its functionality and the mainnet is in the progressive stage, this is a project with great potential and many useful applications.
Cryptocurrency & Blockchain
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.