RE: Kik : The messenger app launches Kin an Ethereum based Token

[geronimo]

Yeah, the ICO boom is crazy right now. If you compare what the ethereum based messenger status.im raised (260 mill. $) it is actually only half of it.

Comments

[alexvan]

True, ICOs are the new gold rush. The two talked about in here have the potential to become big, because of the potential higher user base. Risk is the speed of the network for both of them.

[geronimo]

If you are going to invest in it, be careful because of those kind of news about kik :

http://www.trentonian.com/article/TT/20140728/NEWS/140729624

[alexvan]

Thank you. I know there was a controversy in 2014.

This is from Wikipedia about the app:

Child exploitation[edit]
Child exploitation is prominent on Kik Messenger, causing law enforcement and the media to frequently express concerns about the app.[42][43][44][45][46] Automated spam bots have also been used to distribute explicit images and text over Kik Messenger.[47][48] A state law enforcement official interviewed by The New York Times in February 2016 identified Kik as "the problem app of the moment".[8]
Prior to 2015, Kik Interactive addressed this issue by informing parents and police about their options to combat child exploitation. In March 2015, the company adopted a more aggressive strategy by utilizing Microsoft's PhotoDNA cloud service to automatically detect, delete, and report the distribution of child exploitation images on its app.[49] (Some experts have noted that because PhotoDNA operates by comparing images against an existing database of exploitative images, it does not effectively prevent "realtime" online child abuse and may not detect material not yet added to its comparison database.[50]) Kik Interactive also began collaborating internationally with law enforcement by joining the Virtual Global Taskforce, a partnership between businesses, child protection agencies, and international police services that combats online child exploitation and abuse.[3][49] The company also sponsors an annual conference on crimes against children.[8]

Source: https://en.wikipedia.org/wiki/Kik_Messenger#Child_exploitation

[rocketmining]

Totally agree, there are few of those start up that have proof of concept working, great team and great execution of their project. With such an uptrend in cryptocurrency market networks can be the problem. Plus hacking small network for bigger gains will attract more attackers.

[alexvan]

True. I think the security will not be the issue for them. I doubt only the speed.

[rocketmining]

Today creating new digital token isnt enough to make it valuable, companies start creating very specialized blockchain networks with one specified function. This way users get token and app at the same time and both are really easy to understand. App has token called usually the same and all new users without any process of educating them know whats going on.

If we talking about the real usage of cryptocoins this project is one of the best utilization of tokens till now. Companies building existing solutions on the top of blockchain improve them with higher trust and all other benefits of decentralization.

We have a lot of different kinds of messaging platform but how many can guarantee 100% user contract execution without one human error?

Smart contract base platforms like this project are the best way of utilizing blockchain technology in real world

[alexvan]

You put it to the point. I think also this is one of the best use for the blockchain, also for testing it. If a blockchain can withhold that amount of users it can extrapolate to other applications.