Traders Can Now Buy, Sell, and Trade Kinetic Network Token (KENT) on the LBank Platform

Traders Can Now Buy, Sell, and Trade Kinetic Network Token (KENT) on the LBank Platform.

Aug. 26, 2022, Internet City, Dubai – On August 26, 2022, the digital asset trading platform LBank Exchange added the Kinetic Network Token (KENT) to its list of tradable tokens. The KENT/USDT currency pair is currently live on LBank Exchange for all users to trade.

Kinetic Network is a blockchain-based data exchange network that allows users, such as individual customers, to generate money by selling their data without disclosing their identities or having to involve any third parties. To broaden its global reach and assist it in realizing its mission, the Kinetic Network Token (KENT) will be launched on the LBank Exchange at 15:00 (UTC+8) on August 26, 2022.

KINECT: A New Kinetic Network Architecture

Modern-day “Data Brokers” are the highly profitable entities that acquire user data from websites and mobile apps that monitor users’ activities within the apps themselves in order to build detailed profiles of those users. Unfortunately, customers, who are the true industry drivers, do not get a cut of the profits. Consumers need to insist on a new norm for the protection of their private information when it is used for market research.

Instead of going through middlemen, Kinetic Network lets its customers sell their data directly to other users on the network. Smart contracts, which enable transactions between unidentified parties, would allow users to sell data without revealing their identities, though more specific details about the data’s intended purpose would still need to be disclosed.

Using a blockchain and Secure Multiparty Computation (SMC), a transaction between a data supplier and a data requester can be enforced, along with the associated payment, without any need for a trusted third party. Data is kept genuinely secure by SMC until an agreement is achieved and payment is made, which is made possible by the blockchain.

Furthermore, conventional market research businesses collect data for a set period of time and deliver a single report to their clients, but on Kinetic Network, requesters would never have to cancel their request for data. They can check the status of their reports at any time during the data gathering process, since the smart contract will automatically update them whenever new information is received from the providers.

As more data is added to Kinetic Network, the platform is able to provide requesters with a greater depth of data, allowing for the creation of more comprehensive reports, including those that aggregate data from several requests.

Kinetic Network will expand its capabilities as a trusted platform for distributed information sharing. Its initial use case will be surveys, but it will eventually support additional uses including marketing and customer loyalty programs.

Introducing the KENT Token

The Kinetic Network’s native token is known as Kinetic Network Token (KENT). Anyone with KENT tokens can make a data request on the Kinetic Network, and users who fall into the requested demographic will be rewarded with KENT tokens.

According to BEP-20, there will be a total of 3 billion (or 3,000,000,000) KENT tokens in circulation. Thirty percent will be used to fund the ecosystem, thirty percent will go to the team and advisors, five percent will be used to fund events, and the remaining thirty-five percent will be used for marketing and reserved purposes.

At 15:00 (UTC+8) on August 26, 2022, the KENT token was published on LBank Exchange, making it possible for anybody interested in investing in the Kinetic Network to acquire and sell the token with ease. Without a doubt, KENT token’s listing on LBank Exchange will aid in its development toward even greater corporate expansion and increased market visibility.

What is the KENT Token and How Can I Get Some?

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Orizu Augustine
Orizu Augustine is an experienced crypto writer working for Alltechcraft. Having passion for writing, he covers news articles from blockchain to cryptocurrency and iPhone and Samsung related articles.