Singapore, June 16, 2022 — KuCoin Community Chain (KCC), the public chain project initiated and built by the developer community of KuCoin Token (KCS), announced its KCC Validator Election kickoff today.
The KCC Validator Election will select 29 nodes maximum as active validators based on the amount of KCS staked. Active validators own part of KCC’s governance and are responsible for block production by staking KCS and sharing block rewards. They empower the KCC network by processing transactions and signing blocks.
The KCC Validator Election will improve the KCC ecosystem’s stability and decentralization by giving rights and incentives to the community. Today is also the first anniversary of KCC’s establishment, lending additional meaning to the election.
On March 29, KCC, joined by KCS Management Foundation, co-released the token’s white paper emphasizing that growing KCC is an important stage of current ecosystem development. The KCC Validator Election provides a new use case for KCS and marks the beginning of a rapid-development phase for KCC.
Leandre, a core member of KCC GoDAO Foundation, said:
“KCC Validator Election is a milestone in KCC’s development. It not only realizes the redistribution of gas fees on the KCC network as well as the multi-autonomy of the current community but also marks [how] the KCC and KCS ecosystems have entered a more advanced stage. In [this] stage of interconnection, the compounding effect of KCS [has become evident]. At the same time, the Web3 business matrix in the KCS ecosystem is gradually forming, and KCC will serve as the underlying infrastructure to provide technical support and other support for other projects.”
Registration for the KCC Validator Election is now open; organizations and individuals can apply. For more information, visit the KCC official website.
KCC Validator Election will enable KCS staking later for a wider range of retail investors, and KCS tokenholders can earn revenue by staking.
KCC is a public chain project initiated and built by KCS’ developer community, solving the network latency and high gas fees of the Ethereum network. KCC is Ethereum-based and compatible with Ethereum Virtual Machine and smart contracts to provide community users and developers a higher-speed, more convenient and lower-cost blockchain experience.
Visit KCC.io to learn more.