Goodbye Stellar, Kin Crypto Project Approves Switch To Solana Blockchain Due To Scalability Issues
In a move to increase the scalability and speed of its platform, Kin Foundation, the lead development team of the Kin crypto, voted to move from its Stellar blockchain fork to Solana blockchain.
The Kin Foundation lead team voted on the proposal to move to Solana blockchain to solve the scalability constraints on the Stellar blockchain. According to a the KIN community, the company has been exploring the possibility of the move for the past month, raising the proposed move to Solana.
The proposal on GitHub, raised by Kik Interactive Inc., was overwhelmingly supported by the board and community of the project set off plans to start the move in the coming weeks.
The journey of Kin crypto started in mid-2018, with the founder of the Kik messaging app, Ted Livingstone, building it on the Ethereum network. Scalability issues on ETH caused Kin to move its transactions to Stellar’s blockchain and successively create its fork on the blockchain.
The trouble with Stellar
Stellar’s latency times of five seconds and the scalability constraint of only 100 transactions per second is “not great consumer experience,” the report on GitHub reads. With a growing customer base, currently, at 3 million and over 50+ partnering applications, Kin Foundation turned to Solana for solutions.
Solana’s co-founder, Anatoly Yakovenko, says the platform can settle over 6000 times more transactions per second and 400ms block times. This will boost the overall transaction speeds while reducing latency times on the Kin platform. Anatoly further said,
“In addition to speed, Solana’s natural ability to scale turned out to be a major determining factor in their (Kin’s) decision.”
Despite the progress of the Kin crypto project, the U.S. Securities Exchange Commission (SEC) is on the company’s neck challenging its ICO process. These recent troubles with the SEC are causing a slow growth to Kin’s project, one analyst argued.