Kriptoks

Bitkub Coin (KUB) is an open-source blockchain platform designed to promote the adoption of blockchain technology among developers, small and medium-sized businesses, start-ups, and entry-level users. The platform aims to provide solutions such as decentralized applications (DApps), utility tokens, and non-fungible tokens (NFTs) to various business problems. The network aims to be a ready-to-use platform for various partners who can operate the node and be the validators, ensuring lower transaction fees and swift transactions without compromising security and performance.

According to its whitepaper, the network aims to democratize economic opportunities and establish an unprecedented level of financial access for its users. Assets can be placed on the scale of liquidity, making value transfer seamless, secure, and efficient without third-party involvement. The transactions on the blockchain will be swift, allowing for impactful use-cases for businesses and individuals.

The Bitkub Coin network aims to use the proof-of-authority (PoA) consensus mechanism to provide high accessibility in the form of low fees and high transaction throughput. Adopting a PoA algorithm enables the platform to form an ecosystem that benefits users, developers, validators, node owners, token holders, and organizations, ensuring output, performance, and cost-effectiveness.

KUB serves as the native utility token of Bitkub Coin. The token is intended to be used for various actions on the network such as asset transfer, transaction fee, creation, interaction with smart contracts or DApps, free credits, rewards for locking and dropping the tokens, redemptions for partner services, and products. Smart contracts are similar to regular contracts, however, they run in the form of protocols on the blockchain.

Furthermore, the KUB token serves as the primary exchange unit to evaluate and pay the cost of consumed resources on the network. The token aims to provide incentives such as validator rewards to encourage participants to contribute and maintain the ecosystem.

Bitkub Coin ecosystem was developed by Bitkub Blockchain Technology Co. Ltd., a subsidiary of Bitkub Capital Group Holdings Co. Ltd., established in Thailand. The CEO of the subsidiary is Passakorn Pannok. The Bitkub team includes Samret Wajanasathian, the CTO, Siraphop Jantaraopas, senior marketing manager, and Thanit Pattarasaengthai, group corporate strategy director.