There are specific applications that blockchain as an emerging technology can solve. Issues to do with transparency and audit are just but some of them. There are tons. However, what stands out at the moment is the absence or low levels of fitting regulations.
For blockchain solutions to resolve longstanding problems and spearhead the next wave of shaping revolution, there must be an element of interoperability in such a way that enterprises and governments can at first hand reap the efficiency and cost-savings that DLT has to offer.
Without suitable solutions, there won’t be endorsements from governments and key institutions. This would cascade to low adoption levels and therefore, the failure of blockchain to gain mainstream use.
What is KardiaChain?
KardiaChain is a blockchain solution tailored specifically for governments and enterprises. The idea is to onboard as many users as possible by collaborating with government agencies and enterprises keen on leveraging Distributed Ledger Technology (DLT) to decentralize their services.
Towards this grand objective, they are keen on on-boarding as many users as possible while keeping the costs of marketing and onboarding low.
Another big feature of KardiaChain is their drive for interoperability and building non-invasive hybrid blockchain platforms attractive for clients. Dual nodes monitor the KardiaChain protocol as well as the connected blockchain—which can be Ethereum or Tron, for example, enabling seamless reading, validation, and processing of cross calls between supported protocols.
Through KardiaChain, Ethereum, Tron, and NEO will be the first interoperable blockchains with cross-chain activities expected to go live once KardiaChain launch in H2 2020.
But it isn’t public blockchains that can be interconnected, thanks to the use of dual nodes, KardiaChain can connect to private chains without the need of adhering to specific—often restrictive, protocols.
Interestingly, dual nodes are open to the public in such a way that each node can perform its own consensus during an interoperable operation producing dual blocks for the preservation of state equilibrium.
There is a secure and incentivization mechanism which allows KardiaChain to link to as many protocol as possible simply by creating a dual node group for “dual blocks” validation specific to the blockchain.
This way, the target protocol need not make any changes as dual nodes handle inter-chain activities while monitoring states of both chains.
Primarily, KardiaChain comprise:
1. The Kardia Unified Smart Contract Language (KSML)
Here, developers can create a programming-language agnostic human-readable master smart contracts on a Kardia Virtual Machine (KVM).
These master contracts act as glue between other smart contracts hosted in supported protocols.
Like “dual nodes” invocations made on one blockchain need not to be modified and will be executed on the other chain without involvement of the end user.
The KSML acts more like a translator that can not only be used to handle failures but through which code can be injected to improve logical capabilities of smart contracts.
What this means is that in the future, once mainnet is launched, a developer can write a smart contract on KardiaChain and deploy it to other protocols through the KSML.
2. The Adoption Decentralized Application (ADAPP)
This feature is more of an integrator through which adopting firms and government agencies can easily decentralize their services or product offerings.
As a hybrid solution which combines centralized and decentralized systems, and triggered by the conditions of contracts deployed via the KSML, there is enough flexibility for customers and developers.
For instance, operations which demand security and transparency can be run from a public chain as Ethereum while those which need scalability and throughput can be launched from a private chain.
Besides, with ADAPP, traditional firms not ready to deploy blockchain in their operations can test specific parts of their systems.
ADAPP flexibility being a main drawer has seen KardiaChain strike a deal with the Vietnamese National TV with the launch of ON Sports of which KAI tokens, the native currency of the KardiaChain platform is used for settling on-chain transactions.
The popular app is dedicated to football news and media drawing a fan base of around 800,000 of which 200,000 have registered.
The ADAPP can be downloaded from Google Playstore and Apple Store. Once installed, users can predict games or donate to their favorable players through the KAI token.
The team is led by Tri Pham—the co-founder, who has “over 10 years of entrepreneurship experience in multiple sectors such as mobile app, finance, and services.”
Huy Nguyen, the co-founder, tags over 10 years of building large-scale distributed infrastructure. He was a part of Google Access Wireless and the Google Fiber Network Infrastructure.
Anthony Vo—the Chief Financial Officer (CFO), was the First Vice President for the Bank of Hope, the largest Korean American commercial bank in the United States.
Son Nguyen—the Head of Business Development, is an Angel investor and a blockchain enthusiast while Thao Dang—the Head of marketing and partnerships, is an experienced marketer.
Advising KardiaChain are government officials including Dr. Manh Rinh Viu described as the former “Party Chief of Thai Binh Province, Chairman of Thai Binh Provincial People’s Committee, and Member of Committee on Economic, Planning and Budgetary Affairs of the National Assembly of Vietnam.”
There is Richard Yu, the co-founder of Metadium, Ryan Fang—the co-founder of ANKR Network, Huy Ho—the chairman of Mai Linh group, Michael Park—the director of marketing at Blockcrafters.
KardiaChain has partnered with a host of companies including the Matic Network, Morpheus Labs, Contentos, the Band Protocol, ON Sports, among others.
KardiaChain (KAI) Tokenomics and Distribution
The KAI token will be used as a mode of transfer within the KardiaChain ecosystem.
As a utility token which is non-refundable and functional, it is used a unit of account between participants of the KardiaChain. The token is an integral part of the KardiaChain ecosystem powering staking and incentivization of network validators.
Specifically, KAI tokens are used for:
- Payment within the KardiaChain ecosystem
- Accessing services and deployed products
- Staking due to dPoS
Before the scheduled mainnet launch set for Q3 2020, KAI tokens are available as ERC-20 tokens. Upon a successful launch, these tokens will be swapped for KAI coins on the mainnet.
The team carried out an IEO at Gate.io on April 8, 2020, raising $1 million though it was oversubscribed by 18X. The $1 million target was reached in two minutes from 2,424 participants.
In total, the team had a potential of raising $19.2 million (the money received after the IEO—but was paid back). Each KAI token was sold for $0.00144 during the IEO.
During their private sale, KardiaChain raised $1.7 million. Each token was sold for $0.0025.
There are 5 billion KAI tokens as total supply with a current circulating supply of 1.5 billion.
This is how KAI tokens are distributed:
- Private Sale: 16.32 percent (Lock 6 month, vest 10 month)
- Team: 12 percent
- Advisors: 3 percent
- Ecosystem: 20 percent
- Validators/mining: 10 percent
- Community: 5 percent
- Foundation: 14.93 percent
- Startup: 15 percent (no lockup)—or 750 million
KAI Market Performance
At the time of writing, each token is trading at $0.00262024 with a market cap of $3,284,692, and a 24 hour trading volume of $600,341.
Versus the USD, ETH, and BTC; the ROI is 1.82X, 1.28X, and 1.38X, respectively.
You can buy and sell KAI tokens from the following cryptocurrency exchanges:
Gate.io, IDEX, Bilaxy, UniSwap, and Hotbit.
In these exchanges, KAI is either paired against the USDT or ETH.
- Vesting of KAI tokens is a net positive in the coming few months. Since its IEO was concluded in late April 2020, traders can enjoy price upswings aware that it will take several months for other batches to be released. On June 24, 2020, the team updated their vesting contract.
- In May 2020, KAI was one of the most discussed new coins/tokens. This goes on to show how expectant the community was and the true potential of the project.
- The team continues to strike partnerships with teams for the benefit of the wider ecosystem. The most recent addition is the addition of the Hi Wallet. They also partnered with Vietnam’s Youth Union in a deal that will digitize user data and provide a platform for building applications for over 60,000 young people.
- CertiK is a partner backed by Binance—the world’s largest cryptocurrency exchange by client count. There is no discounting the possibility of a listing at Binance or its DEX in the future.
- KAI is building liquidity. Aside from support from Gate.io—from where it carried out its IEO, KAI is now available for trading at UniSwap. To keep up with high demand, the KardiaChain team will provide liquidity.
- KardiaChain, in May 2020, expanded into the multi-billion dollar E-Sport industry by launching an Incentive Platform.
- The development team is experienced. For their vision and mission, KardiaChain is attractive for leaders in blockchain and government. The project is advised by former government officials as well established CEOs. To gauge their activity, there are over 9,000 commits and 60 contributors in just two years as visible from their GitHub.
- For sustainability, KardiaChain fuses dPoS and Byzantine-Fault Tolerant (BTF) consensus system, with a programming language-agnostic virtual machine ensuring smooth flow of information between supported blockchains. Transaction fees are comparatively lower and this coupled with fast confirmation times gives KardiaChain an edge over other interoperable blockchains.
- KardiaChain is the first public blockchain which is interoperable with a private chain. This means enterprises can partially adopt—and test blockchain solutions without fully immersing themselves in the tech when they aren’t comfortable. Besides, cross-chain activities are non-invasive, subsequently opening up a new horizon for true blockchain adoption.
- As they offer an interoperable platform, ADAPP being built on it draw the demand of KAI. For instance, the predictions platform launched in May 2020 is powered by KAI tokens while fans can gifts their favorite players using KAI via the ON Sports app which is very popular in Vietnam. Through these channels, KardiaChain expect over one million users at the end of the year.
- KardiaChain plans to roll out a mobile payment channel. They have already started integrating with Vietnam’s largest Telco with plans of launching in other 10 countries. Once fully commercialized, mobile users will be able to purchase KAI tokens from their mobile balance.
- Their partnership with the Band Protocol was strategic. As the latter offers Oracle services, vetted data from these portals will be used to extend KardiaChain’s smart contracts functionalities. At the same time, they can find use case for ADAPPs as they build on big ecosystem where KAI is used for settlement.
- For developers, the Kardia Smart Contract Markup Language (KSML) is the ultimate tool enabling them to deploy multi-chain smart contracts in any language. Unlike in Ethereum where they must learn Solidity, developers can only deploy one smart contract which will be translated in various chains.
- KardiaChain also plans to launch an interoperable decentralized exchange (DEX).