What is Kyber Network?
Kyber Network is an on-chain protocol that runs on Ethereum. It allows instant exchange and conversion of cryptocurrencies and digital assets with high volumes of liquidity.
The platform can execute many desired outcomes of an exchange among them being;
- Decentralized execution.
- High liquidity.
- Instant trade.
Besides being an exchange, Kyber provides payment APIs. These allow Ethereum accounts to effectively receive payments from any cryptocurrency tokens. An example is that a merchant can make payments in Kyber but receive payment in preferred currency such as Ether.
The user accounts can be able to get payments from other platforms. Through this, a trustless payment service is realized. Derivatives are going to be introduced to mitigate the exposure to the risk of volatilities. All in all it is a novel concept that improves efficiency of Ethereum and the virtual reality realm as a whole.
Founder: Loi Luu
Release Date: Sept 24, 2017