What is Kyber Network?
By — Nirmal Ranga
Kyber Network is a decentralized protocol that allows instant conversion and exchange of digital assets in a trustless manner based on Ethereum blockchain. Kyber network fills the gap by serving as an alternative to centralized cryptocurrency exchanges which are prone to security-hacks.
Thus, Kyber Network is introduced with the purpose of forming a protocol that will enable exchange of digital assets in a decentralized and trustless manner.
User will be able to exchange any digital asset allowing automatic conversions of any virtual asset instantaneously.
Summary : Kyber Network is a decentralized trustless exchange live on Ethereum blockchain that uses smart contracts for trading cryptocurrencies and maintains a system of reserves in order to guarantee instant trades with high liquidity.
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About Author — Technical/Derivatives Analyst & Crypto-Currency Expert with a decade of Professional Experience having expertise in Equities, Commodities, FOREX & Crypto-Currency Markets. Connect with him onLinkedIn and follow him on Twitter.
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