About KekCoin
KekCoin is a peer-to-peer proof-of-stake cryptocurrency created to serve the internet community. Segregated witness support makes Kekcoin one of the most advanced PoS cryptocurrencies on the market. Kekcoin aims to be a revolutionary advancement in meme technology, and strives to fund projects that align with the will of Kek. Kekcoin wishes to expand the global awareness of cryptocurrencies and blockchain technology by funding curation and dissemination of dank original content. The Kekcoin Core team wish for this to be a community driven project. This is an open source project, and community contributions are welcomed at every opportunity!
The MemeChain
The Kekcoin blockchain will form the base layer for a new platform called the MemeChain. This platform is a censorship-resistant ‘blockchain of memes’, where the hash of each meme is stored in the Kekcoin blockchain and the data of the images themselves are stored on IPFS. This platform will have a simple developer interface to allow for easy MemeChain integration into their web application (or subreddit/twitter/telegram etc.). There will be a global view of an immutable history of time-stamped authored memes. Artists will be able to prove authorship and existence of their content. A small number of KEKs will be required to create the transactions which allow the image data to be embedded into the blockchain.
Incentives for MemeChain nodes
The incentives for running a Kekcoin node are robust – stakers earn rewards for processing transactions. The incentive structure for MemeChain nodes must be extended to ensure that files are adequately supported on IPFS. Since there is no custom peer-to-peer communication protocol for MemeChain clients, creating a protocol that relies on proofs-of-storage and proofs-of-replication is not feasible.
Simpler approach
Instead, a simpler approach must be taken. Initially, app developers will be forced to set-up sufficient infrastructure to maintain the distributed data stores for the set of memes in the MemeChain. They are incentivised to do this since, if they do not, their apps will not run. Additionally, the apps can be configured to run MemeChain nodes by default. While users could always modify their app to not support IPFS file-hosting, this would take some technical knowledge and effort, which acts as a natural dis-incentive.
KekCoin Wallet
KekCoin are pleased to announce that Kekcoin Core v2.1.0 is now available for download. This is not a mandatory update but we highly recommend running the latest version of the wallet software. Please backup your wallet.dat files before updating as is standard practice when updating a wallet. No further action is required after updating the
Tips for securely storing your KekCoin
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.
Article Disclaimer
The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .
