KuCoin Monthly Report June 2020: KuChain Is Coming!
✅ Launched KuChain Betanet
✅ Upgraded Margin Markets
✅ Added 17 Fiats
✅ Launched P2P Fiat Trade for USD Market
✅ KuCoinFutures Brand Upgrade & $ETH Perpetual Launch
Read more 👇
[https://medium.com/kucoinexchange/kucoin-monthly-report-june-2020-kuchain-is-coming-e5ea3931c627](https://medium.com/kucoinexchange/kucoin-monthly-report-june-2020-kuchain-is-coming-e5ea3931c627)
For anyone like me who is like, Kuchain is coming but why should I *care*. What is it? What does it do? Does it benefit me as a KCS holder? Why is Kucoins marketing so bad that I have to dig into their source code to figure out what this is? I have some answers for you.
As a mission statement they want Kuchain to be a cross-chain “escrow” exchange platform. Rather than using something like a trustless ren bridge of each asset to Ethereum as a settlement layer they want to create an IOU chain. The chain has something called a keeper which is presumably Kucoin. You can deposit to Kucoin and the keeper can mint coins for you on Kuchain. It has a basic trading system. It has staking and maybe uses dpos?
How does this compare to Binance chain? Well, on Binance chain they would deploy an oracle to Ethereum to watch for cross chain events. If one is detected, it would execute a contract on the Binance chain. Also tool compatibility with Ethereum as a base chain meant there were blockchain explorers out the gate for Binance chain. So looking at the code right now Kuchain is a less trustless IOU chain you can only seed assets with from Kucoin that would allow you to trade those assets on that chain for atomic swaps. Basically it’s a weak imitation of Binance chain. Don’t get your hopes up.