Have you heard the news? Symatri recently announced their plans to move Kala from an ERC20 token to its own unique blockchain built as a fork of Bitcoin. Owning and operating its own blockchain opens the doors to many benefits for our Kala community. Take a look at just a few:
--Increased Stability & Protection with the SEC: Moving from an ERC20 token to a unique blockchain establishes Kala’s utility and value as cryptocurrency, not a security, and solidly places Kala in compliance with SEC guidelines.
--More Validity & Opportunity with Exchanges: Since Kala will no longer be an ERC20 token, it is more appealing to exchanges, making the path to being accepted that much easier. When Kala is accepted on one or more exchanges, the value of the currency can truly take off.
--Favorable Structure for Creating a Decentralized Proof of Work Network: Kala believes in the power of decentralization and the opportunity that it offers for everyone who wishes to participate, rather than select groups.
--Putting Kala Community in the Driver’s Seat: Having its own blockchain gives Kala users the ability to directly support and build the Kala ecosystem through mining or installing the blockchain on their own hardware.
--Simplified Blockchain Design: Since Bitcoin has been around for almost 10 years, there are hundreds of supporting tools already developed and in use. Moving to a fork of Bitcoin increases the ease of adoption across multiple platforms, such as wallets and exchanges, which are already set up for bitcoin and its forks. These traits spur adoption and increase the value of the currency.
And this is just the beginning! To learn more about Kala’s blockchain benefits, check out our recent blog post, “A Deeper Look into the Benefits of the New Kala Blockchain."