Know your cust... developer! KYD review.
By Rafał - 2018-09-27
KYD Coin or Know Your Developer Coin as the name suggest is a project that is focusing on veryfiying ID's of other coin developers. No more scams? Let's see.
|Block time:||60 sec|
|Max supply:||21 000 000|
|Premine:||210 000 (1%)|
|Masternode collateral:||10 000|
KYD Coin is unique project which allows coin developers gain more trust from investors.
Cryptocurrencies are specific and a lot of people for many reasons do not want to share they identity with others. On the other hand coin devs should be transparent to show that they are serious about their project. If you are not showing your face that means you are afraid something or maybe you do not want to be caught when you scam your investors? But how to show that you are serious but you do not want to show (for any reasons) yourself yet? You can be verified by KYD team.
KYD is new project but already become something that makes coin better. If coin is verified, investors are less concerned that some day team just disappear after dumping premine. Of course KYD verification DO NOT GUARANTEE that coin will be successful. You can not invest in coin just because it is verified by KYD. So how Know Your Developer works?
There are two verification types, Private and Public. Private means that team is verified and on the KYD website it is display as "verified". Public verification means that they are publishing names, pictures and Linkedin profiles.
OK, idea is great, project is unique but what was the reason of making blockchain and masternode cryptocurrency for that?
If you do not know why, it is (probably) about money. Premine is used for presale in "auction" form, development and for the team. Blockchain is great way to find funds on development. With their own coin they can make a lot more money than without it (reminder: all companies are for making money). Also, team "take" only 30 000 KYD or 3 Masternodes, it is not a lot.
To be reviewed you need to pay them. Payment is made in KYD Coin of course, so from the begining they have use case. Veriication fees depend on status of coin. The most expensive are ICOs (5000 KYD) and the cheapest is regular listing (1000 KYD). More details you can find at: review.kydcoin.io/application/
This project is still at the beginning. In the future KYD platform will be expanding to a much broader verification and coin escrow service.
Of course KYD team is transparent. You can find their names, pictures and Linkedin profiles on official Know Your Developer website.
Know Your Developer is unique project that already become "must have" for almost every masternode coin. They are transparent about premine and team. They have big community, still nice ROI and what is the most important use case for their coins.
Masternode collateral is 10 000 KYD. You can download guide on their discord channel or watch video below:
10 000 is quite a lot especially that is only one full masternode available to buy (sell orders). That is good, investors are holding so coin price can move up quite easly.
If you can't afford to set up masternode you can join to Shared masternodes services. You can find them on KYD discord.
If you want to buy KYD coins you can do this at one exchange at the moment:
- Website: https://kydcoin.io/
- Explorer: http://explorer.kydcoin.io/
- Discord: www.discord.gg
- Bitcointalk: https://bitcointalk.org/index.php?topic=4577571
- Github: https://github.com/kydcoin/kyd
- Masternodes.online: https://masternodes.online/currencies/KYD/