[PRESS RELEASE – Victoria, Seychelles, 16th July 2021]
A new generation of public chain – KCC officially launched its cross-chain bridge, the KCC Bridge. It provides bridging services to the KCC public chain by allowing native tokens on other chains to interchangeably transact and circulate on KCC. The KCC Bridge will first support stablecoins such as USDT and USDC from Ethereum to KCC. There is no gas fee for users when transmitting assets into KCC, while the gas fee on other chains may still apply.
As the underlying technical infrastructure, the performance of public chains is key to the scalability of the crypto industry. Despite having a sizable ecosystem, mainstream public chains such as Ethereum and Polygon have encountered challenges and choke points in terms of interaction and interoperability with other public chains by being slow and inefficient. Crypto assets created on independent chains cannot access free migration. The silo system built by the pre-bridge world prohibitively affects asset transfer and user experience. Such a lack of interoperability is a big impediment to the further development of the crypto industry.
Connectivity Solution to KCC Public Chain
The launch of the KCC Bridge aims to provide connectivity solutions in technical terms to networks based on different protocols, rules, and governance models by seamlessly moving their data and assets. In other words, cryptocurrencies can freely circulate across their native networks and the KCC blockchain with one click.
The Ethereum-based, high-performing, and decentralized public chain KCC was built by KCS’ and KuCoin’s fan communities. It has been running stably and smoothly for a month since its mainnet launch on June 16, 2021. KCC aims to offer community users a high-speed, convenient, and low-cost blockchain service. According to the on-chain data insights, KCC block height has exceeded 1.2 million, and the number of addresses of currency holders has reached approximately 25,000. The average block time is stable within 3 seconds.
The main focus of the KCC community in the following stage is to enrich the ecosystem further. Meanwhile, KCC public chain Grants was launched on June 18, 2021, to support and encourage global developers to deploy and build various tools and Dapps on top of KCC. KCC is currently recruiting ambassadors of expertise from technical and marketing backgrounds to promote its further growth. The stable running of the KCC Bridge is expected to bring in more diversified mainstream public chains and their native assets to the KCC ecosystem.
Built by KCS’ and KuCoin’s fan communities, KCC is a decentralized public chain with high performance. It features high throughput, low latency, low transaction cost, and satisfactory security and stability. In addition, it aims to improve the on-chain processing power and performance with the Proof of Staked Authority (PoSA) consensus mechanism by reducing the block confirmation time to within 3 seconds. It adopts KCS as the on-chain gas fee to reduce the overall transaction costs. By building up a “faster transaction confirmation speed,” “higher transaction performance,” and “lower transaction fees,” KCC aims to provide community users with faster, more convenient, and lower-cost experiences. For more details, please visit https://www.kcc.io/.