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Kyber Network (KNC)

Kyber Network is an on-chain exchange protocol which allows the instant conversion of cryptocurrencies. When you exchange your cryptocurrencies with Kyber Network, the exchange is done via a smart contract and is executed automatically. But what separates Kyber Network from other centralized exchanges is that your funds never actually hit the exchanges. Once the funds of both parties are supplied, the contract executes and both parties receive their desired currency.

All swaps are atomic, which means that if for any reason the transaction fails, the respective coins will be instantly returned to both parties.

In addition to acting as an exchange, Kyber Network also acts as a payment gateway which allows easy and fast payments between various cryptocurrencies. If, for instance, a retailer was to use Kyber Network for their payments, the shopper could pay for their purchase in any token accepted by Kyber, and the retailer would then instantly receive Ethereum or another coin of their choice.

More details on the Kyber Network can be found on their website and whitepaper. To interact with the community, join their telegram channel.

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