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KStarCoin- Staking Coins and KStarLive

KStarLive | 08.29| 308

KStarLive CTO Tae-Hyung Kim

A new movement is pumping oxygen into the cryptocurrency industry despite coin and asset prices that remain significantly lower than where they once were in late 2017. It’s called De-Fi, short for decentralized Finance — It’s the notion that crypto entrepreneurs can recreate traditional financial instruments in a decentralized and transparent architecture, outside of government’s and companies’ control. While various ideas are emerging to utilize and maximize the use of blockchain technology, specifically De-Fi, Staking has gained a great deal of attention and traction from the industry.

What is Staking? A simple way of receiving rewards and payments by locking up tokens.

As the name suggests, coin staking revolves around users locking up a specific amount of coins at their choosing in hopes of staking it for additional network rewards. In this sense, staking is similar to receiving interest payments on a bank’s savings account. The main difference is that interest is paid in cryptocurrency tokens or through other rewards for agreeing to lock up your stake for a certain period. During the lock-up period, tokens cannot be moved to other wallets and cannot be traded within the exchange either. The rewards that you can receive comes in many forms including voting rights on the node, earning newly minted coins, or more, depending on the cryptocurrency staking conditions. All the rewards that can come from staking your coins are generally dependent on the number of principal coins that are staked. Generally, a greater reward is offered for those with a higher amount of coins staked as well as the duration of the coins staked. The coins Cosmos(ATOM), Tezos (XTC), and Dash(Dash) are well known for their staking features.

*Node: A node is a device on a blockchain network, that is, in essence, the foundation of the technology, allowing it to function and survive. The nodes store the blockchain and all of its data so that it can be retrieved by other people such as users and miners.

*Voting Rights: The power to select the representatives that create and verify blocks

The connection between Staking and KStarLive?

Staking rewards are not limited to newly minted coins or simply acting as validators of new block transactions and helping with security. KStarLive is planning to implement staking of their coin KSC(KStarCoin) so that users have a chance to access exclusive concert tickets, exclusive merchandise, goods and more. Whereas competition is fierce for such services and goods, staking KSC can provide users a chance to get their hands on them with virtually no risk! (Look forward to further updates and news regarding the matter!)

KStarLive CTO, Tae-Hyung Kim, believes that staking KSC will be an important development as it provides a reward and incentive for long-term investors and holders who believe in KStarLive. KStarLive is constantly thinking of and developing models that can reward everyone a part of the KSC ecosystem.

Currently, Hallyu fans are creating valuable and high-quality content on multiple SNS platforms yet the monetary value created is retained by the said platforms. KStarLive’s platform is different in that it distributes value logically and fairly to the right owners via KStarCoins (KSC). With the rewarded coins, users will be able to purchase goods and services related to K-Pop and Korean culture such as concert tickets, MD goods, star-related goods, as well as gifting services (such as subway billboard ads and sending food trucks to their favorite celebrities).

The KStarLive team will continue to find and develop new methods so that every one a part of the KSC Ecosystem can benefit. Please look forward to more news and updates about KStarLive by joining our telegram chat listed below as well.

KStarLive’s Contact information:

Telegram: https://t.me/joinchat/GeOUSUZPyVpuOHvUMHmKkQ

Email: Contact@KStarLive.com

Website: https://www.kstarlive.com

KStarLive Application : https://play.google.com/store/apps/details?id=com.kstarlive.mobile

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