KyberNetwork is a decentralized trading platform for instant trading and exchange of highly liquid digital assets (various encrypted tokens, such as Ethereum and its ERC20 tokens, Bitcoin and ZCash, etc.). In order to realize seamless payment between different tokens for all users, KyberNetwork will provide a rich payment API and a new generation of contract wallets to expand the overall transaction capabilities of KyberNetwork.

Project Highlights

KyberNetwork provides a trustless decentralized transaction and payment service. The protocol will be designed as on-chain transactions, that is, all transactions will be written to the Ethereum blockchain. KyberNetwork features trustless decentralized execution, instant transactions and high liquidity.

Just like the main creative team introduced above, this is also a highlight of the project. Loi, Yaron, and Victor are all ether experts who have been deeply involved in blockchain technology for many years, with rich experience and strong technical strength.

Kyber Network provides four services, namely:
Reserve Entities - They provide liquid assets. This feature ensures smooth token transactions on the network. It allows two types of entity registrations, public and private.
Reserve Contributors - Reserve contributors share their reserve profits with other contributors only if the reserve entity is public.
Reserve Managers - they are the accountants of the Kyber network. They are responsible for estimating and calculating exchange rates and maintaining reserves.
Kyber Network Operator - It is responsible for the operation of Kyber Network. It checks, verifies, and approves reserve entities, lists tradable tokens, and ensures that all Kyber Network operations are in a secure environment.

Application scenario

Support currency payment and exchange, and will support cross-chain payment in the future

Related information:

Long-term goals and plans for 2019 https://blog.kyber.network/%E9%95%BF%E6%9C%9F%E7%9B%AE%E6%A0%87%E4%BB%A5 %E5%8F%8A2019%E5%B9%B4
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