What is Kyber Network?
Kyber Network is a decentralized exchange which allows conversion of digital assets – specifically tokens and crypto currencies. They provide payment APIs and a contract wallet that allow anyone to seamlessly receive payments from any token. Users can also mitigate the risks of price fluctuations in the cryptocurrency world with derivative trading.
Who’s behind Kyber Network?
There’s a very strong team behind Kyber. The most prominent members are CEO Loi Luu and CTO Yaron Velner, who are co-founders together with Lead Engineer Victor Train. All have extensive experience from blockchain research and open-source projects. Notably, Kyber has Vitalik Buterin on their list of advisors, the founder of Ethereum.
Which competitors exist in the space for decentralized exchanges?
Some notable startups in the space of decentralized exchanges and peer-to-peer transactions are:
0x had their ICO in August 2017, while Airswap completed theirs in October 2017. EtherDelta has become one of the places where ICO tokens debut first after hitting exchanges.
Decentralized exchanges might becoming an increasingly crowded space, but it’s not at all clear that this is a “winner takes all” market. Nor will these players necessarily compete head-on. It’s certainly worth following these other startups as well.
More broadly, we can look at exchanges in general. Kyber Network’s own strengths vs others can be summarized in this table:
We have taken this table from Kyber Network’s own whitepaper. Thus it should be taken with a pinch of salt.
How can I purchase Kyber Network tokens?
Kyber Network’s completed their token sale on September 17th. You can now purchase KNC token on exchanges like EtherDelta, Liqui, Binance, and Coinnest.