Kik presses ‘paws’ on cryptocurrency launch, blames blockchain cat craze

Cuddly, adorable digital kitties trading on the Ethereum blockchain are to blame for a delay in distributing Kik Interactive Inc.’s new cryptocurrency to users of the Waterloo, Ont.-based messaging app.

In a Q&A streamed live online Wednesday, Kik chief executive Ted Livingston said the network congestion caused by the CryptoKitties craze is an example of deeper reliability issues with Ethereum, a platform for making decentralized applications based on blockchain technology. Kik still plans to introduce Kin, its new Ethereum-based cryptocurrency, to a small group of users in the next few weeks, but Livingston said he’s planning to move the token to a different network called Stellar before introducing it to everyone else.

“We’ve been using Ethereum today, and to be honest, I call it the dialup era of blockchains,” Livingston said. “The scale is very low. Even at 10,000 users, we’re starting to push the limits of what the Ethereum blockchain can…


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