Kin Wallet in Kik app available to small set of users
Kin Foundation has churned out their first Kin wallet which will allow users to send and receive cryptocurrency with other users. This experience has been temporarily limited to 10,000 Kik power users. This has been done because of scalability issues with Ethereum as Crypto Kitties, a Dapp that runs on Ethereum blockchain has slowed down entire network and negatively affected the user experience. The wallet runs on Ethereum blockchain and all transactions are logged as well.
In other to keep the transactions costs low, Kik Foundation will be subsidizing the transaction fees. The product is being pushed to users 18+. In the short-term, we will first rollout Kin to users who are 18+ due to safety reasons. Long-term, we plan to have Kin accessible to all Kik users and other digital services beyond Kik.
There will be two earn opportunities (stickers and polls) and one spend experience (stickers). Christmas has definitely come early for the Kin users. Looking forward to the day that Kik or one of their partners releases a truly killer app for the platform. That will be the day this whole thing changes, when everyday users are scrambling to earn and spend Kin on something viral.
Kin wallet is bound to face stiff competition in future with E-Chat rolling out a similar app. Here is the video of E-Chat made by CryptoCoinInvestor.