Kik announced plans to migrate its Kin token from Ethereum to Stellar, citing Ethereum's scaling limitations and high transaction fees. CEO Ted Livingston stated Stellar's design is better suited for Kin's needs, with testing beginning by end of December and a potential Q2 rollout.
Kik is shifting its Kin token network from Ethereum to Stellar to address scalability and reliability issues. CEO Ted Livingston criticized Ethereum as the dial-up era of blockchain, noting that gas prices and transaction fees create friction for users. Stellar, built by Ripple co-founder Jed McCaleb, is purpose-built for fast, reliable, and inexpensive transactions rather than being a general-purpose platform. Kik will test Stellar's capabilities over the coming weeks with a limited user group by end of December, with a full rollout planned for Q2 if successful.