Friday March 05, 2021
Bitcoin (BTC) $47,379.00   Ether (ETH) $1,479.30
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Blockchain Assets

Kowala’s kUSD becomes first stablecoin with Ledger hardware wallet support

Published by CryptoNinjas.net
08/08/2018
Kowala’s kUSD becomes first stablecoin with Ledger hardware wallet support

Kowala, a stablecoin protocol that maintains price-pegs to fiat currencies by robotically minting and burning coin supply in accordance to user demand, announced that their flagship project, the dollar-tied “kUSD”, is the first stablecoin to win public platform support from Ledger, a leading bitcoin and crypto hardware wallet company.

In addition to the ability to store kUSD, Kowala users will also be able to use the Ledger devices to store their mUSD, the token that allocates mining rights on the network. The Kowala stablecoin joins a handful of projects as part of Ledger’s 3rd-party application rollout, which will allow its users to manage their virtual assets via Ledger Live, a Windows, Mac, and Linux desktop app.

Eiland Glover, Kowala

“The importance of Ledger’s decision to publicly support kUSD as the first stablecoin with an app on its platform cannot be understated. One one level, this move is a huge signal for industry confidence in our price-stabilizing mechanisms, which employ unique money supply minting and burning features to eliminate the need for cash or gold reserves. More importantly, this support also increases access to a stable and consumer-friendly cryptocurrency for millions of people around the globe. The full potential of this technology is tied to consumers’ ability to make actual use of it in their daily lives. As the most decentralized stablecoin project on the market, it is our hope that this hardware accessibility will increase crypto inclusion for those living in highly inflationary economies who require usable currency, rather than speculative investments.”

Kowala CEO and Co-Founder, Eiland Glover

Konsensus: The Kowala Consensus Protocol

The consensus protocol of Kowala, Konsensus, is a formal set of rules that allows a decentralized group of participants to agree on the advancement of the blockchain, including the handling of transactions and the distribution of incentivizing rewards.

Konsensus is derived from Tendermint, a mostly asynchronous consensus protocol which is itself based on Byzantine Fault Tolerance (BFT). Kowals chose to base its work on Tendermint because it has achieved transaction performance that is far superior to other widely used, proof-of-work-based blockchain consensus protocols and because it has a well-understood security profile. Like Tendermint, Konsensus requires its participants to be in constant contact with each other

In Konsensus, a network is comprised of two or more nodes connected by a well-defined communications protocol. A node, in this context, is a computer running a Kowala Protocol-compatible mining client. Communication is achieved using the standard Ethereum model of TCP and UDP.

Like other cryptocurrencies, kUSD is mined. For every block, all qualifying miners have the chance to earn a reward of kUSD by contributing to the advancement and security of the blockchain. A miner is an active node on the network that controls a minimum number (currently set at 30,000) mTokens. In order to advance the blockchain, the network must include at least one miner, though we would typically expect there to be many more.

More information on Kowala can be found in their newest whitepaper.

8
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Hedera Hashgraph token HBAR integrated into Ledger Nano wallets
Featured

Hedera Hashgraph token HBAR integrated into Ledger Nano wallets

02/26/2020
Ledger Nano S crypto wallet users can now connect to ShapeShift
Crypto Exchanges

Ledger Nano S crypto wallet users can now connect to ShapeShift

12/11/2019
Ledger Vault crypto security platform obtains $150M crime insurance policy
Featured

Ledger Vault crypto security platform obtains $150M crime insurance policy

11/14/2019
Lithuanian crypto exchange Rokkex to integrate Ledger Vault security system
Security

EU crypto exchange Rokkex to integrate Ledger Vault security system

08/20/2019
EU crypto asset platform Coinhouse integrates Ledger’s wallet solution
Security

EU crypto asset platform Coinhouse integrates Ledger’s wallet solution

06/20/2019
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
DEX aggregator 1inch integrates Bitquery's API-powered crypto trading data

DEX aggregator 1inch integrates Bitquery’s API-powered crypto trading data

03/02/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
CasinoCoin to migrate to XRP Ledger amidst rebranding

CasinoCoin to migrate to XRP Ledger amidst rebranding

03/01/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
iGaming platform Royale to integrate API3 to verify on-chain crypto-to-fiat price exchange

iGaming platform Royale to integrate API3 to verify on-chain crypto-to-fiat price exchange

03/04/2021
Crypto exchange KuCoin opens beta test on new 3x leveraged BTC and ETH tokens

Crypto exchange KuCoin opens beta test on new 3x leveraged BTC and ETH tokens

03/04/2021
Decentralized cloud Akash Network integrates with Equinix Metal

Decentralized cloud Akash Network integrates with Equinix Metal

03/04/2021
Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

03/04/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version