DApp Review [ Kyber Network - Enabling Token Swap Everywhere

in stateofthedapps •  7 months ago 

Hello everyone,

Good evening to you all and how has been your day so far? Mine has been so great and excellently going on smoothly with me having a good time doing my research on my DApp review sponsored by @oracle-d and @dapplovers. I will like to spend much time doing my review on Kyber Network, a decentralized DApp .

What is Kyber?

  • Kyber simply give you a room to switch between or exchange your any form of crypto from any part of the World. In the past few years some very unknown centralized exchanges have received alot of complains as well as condemnation for the lack of tight adequate and maximum security as well as the time duration at which the transaction will be dispatched. By with the help of Kyber Network on the steem blockchain all your transaction is very secure and safe with no one to access your account but by only you and it doesn't not consume much time to make a payment of any kind before they reduce.

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How Does Kyber Network Works?

  • By now we should all have the knowledge that Kyber is mainly used for crypto exchange and it can as well be used to transfer funds or rewards from one person to another. Do you know the amazing thing about the Kyber Networking? The person sending the funds may not have thesame crypto as the receiver of the fund that's an amazing thing. Before you can use Kyber Networking to make any exchange you must have an Ethereum account and all transaction exchange takes place at the Ethereum blockchain.

What is Kyber Network Token?

  • Kyber Network Token is a token that is commonly used to run the system for Kyber Network Reserves. This token we are taking about is also given to anyone who help in the facilitate the perfect development of the platform. This can be achieved in two ways either by through referral link or through constant exchange on the platform.

Supported cryptocurrencies by Kyber Network

  • OMG
  • KNC
  • EOS
  • POWR

The Uniqueness of Kyber Network-

  • The difference that really made Kyber Network apart from the other crypto exchanges is that it is a decentralized exchange.While on the other hand the factor that made it unique is that it records all the transaction on the blockchain. It also deals with the book itself. The other factor that gives it the unique factor is that it records the crypto exchanges on that chain. It deals with the order book off the chain.

Kyber Network service

There are four kinds of service which are namely

  • Reserved Entities.
  • Reserved Contributors
  • Reserved Manager
  • Kyber Networking Operation.

Kyber Network Team.

There are some post which I would love to handle them soon, kyber network was created by trio of Loi Luu, Yaron Velner, and Victor Tran. These great team members Lunched the Kyber Network testbeta around that's. And the later the mainnet was introduced again.

How To Use Kyber Network

Before anything can be done, you need to go to the Kyber Network website here or you can go to the sign up page directly with by clicking here. When you get to the page, you'll click on the Register Now icon and you'll be directed to a page where you'll give the necessary details that will be needed for you to open the account. Then a message telling you to confirm your email address will be seen as in the picture below.

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This is for sign up form. But sign in form is shown below.

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After filing the sign in form with your email address, you can begin to make your transactions instantly . You may want to switch your token to Kyber Network C and you can also make transfers to other wallet addresss without any form of delay.

What I like about Kyber Network

When you receive or fund is transferred to you, you don't need to have the same tokens in your wallet for exchange to occur at all.

Disadvantages of Kyber Network

Transfer of Bitcoin is not assessible by Kyber Network exchanged on this platform.

CONCLUSION

Kyber Network has truely done it best and it serve as a relieved means for the stress for you by converting your cryptocurrencies for u at a very easy pace which I believe it the best thing that can happen this era. So, what you still waiting for? Go and register and start using it NO for best transfer transaction.

RATING

I will like to rate this Kyber Network 4/5 because it makes our transaction so easier and faster.

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