For the uninitiated, KuCoin does exist as a pretty well-known exchange that is usually an offering for the people. Now, a combined effort between this cryptocurrency and the community that has been built around KCS, the native token, could address some of the concerns about the high fees of gas by creating a high-performance blockchain- which is the KCC.
As we all know, DeFi is currently booming more than anyone ever thought possible. But despite the fact that Ethereum has been achieving its goal of turning out to be the most programmable blockchain, the widespread usage of its network has also brought out its weak point- high gas prices.
KuCoin Could Potentially Deal With Ethereum’s Gas Fees
With the limitations that are currently in place, the entire community has been looking out for alternatives like the KuCoin- which has resulted in a direct correlation seen in the rising adoption of the bridge technology. With such a model, transactions on a pricier network like Ethereum could be routed through a far cheaper network with a bridge, which would definitely enable cheaper costs of the transaction. This would result in the introduction of more efficient space with crafted technologies.
The KCS white paper- brought out by the community of KuCoin and the holders of KCS, has outlined how the high fees of gas on the network of Ethereum could be easily addressed through a far larger ecosystem. In this ecosystem, several different platforms and projects- ones that include NFTs, DeFi, games, and Web-3 related application projects would then be aggregated to increase the number of scenarios for KCS, which is the native token of this cryptocurrency.
The release of the white paper would also be aligning the core team of KuCoin with other angel investors as well as investment institutions.