INTERNET CITY, DUBAI, Aug. 26, 2022 – LBank Exchange, a global digital asset trading platform, has listed Kinetic Network Token (KENT) on August 26, 2022. For all users of LBank Exchange, the KENT/USDT trading pair is now officially available for trading.
As a blockchain data exchange platform, Kinetic Network enables users including individual consumers to make profits by selling their data without disclosing their identities and third-party involvement. Its native token Kinetic Network Token (KENT) has been listed on LBank Exchange at 15:00 (UTC+8) on August 26, 2022, to further expand its global reach and help it achieve its vision.
Introducing Kinetic Network
In today’s world, Data Brokers are the ones who purchase data from Internet services and mobile applications that collect information on their users and track their in-app behavior, and use them to create profiles for individual consumers while making a lot of money. But consumers, who are actually driving the industry, do not share in the profit. Consumers must demand a new standard for the storage of personally identifiable and sensitive information that is being used in market research.
Kinetic Network is a blockchain data exchange platform that enables users, not data brokers, to sell their data. By using smart contracts, which execute transactions between anonymous parties, users would be able to sell their data without disclosing their identity, only broad demographic information.
A unique combination of a blockchain and Secure Multiparty Computation (SMC) makes it possible to enforce the exchange of data and payment between the provider and the requester of data without third-party involvement. While a blockchain makes the exchange transparent, SMC keeps data truly secure until an agreement has been reached and paid for.
In addition, traditional marketing research firms collect data over a fixed period of time and provide a single report to their clients, but on Kinetic Network, requesters would never have to close their request for data. Their reports, which they would be able to view at any point during data collection, are updated as data from providers is received and forwarded by the smart contract.
As more data is available in Kinetic Network, the data that the platform makes available to requesters becomes more comprehensive, which in turn gives the ability to design reports that are more comprehensive, including ones that combine data from more than one data request.
As a secure infrastructure for decentralized data exchange, Kinetic Network will continue to develop different applications. In the beginning it will focus on surveys, but it will also be the foundation for other applications, such as advertisements and loyalty schemes.
About KENT Token
Kinetic Network Token (KENT) is the native token of the Kinetic Network. Anyone can buy KENT tokens and use them to submit a request for data to the Kinetic Network, and the ones who fit data requesters’ target demographic are compensated for their data in KENT tokens.
Based on BEP-20, KENT has a total supply of 3 billion (i.e. 3,000,000,000) tokens, of which 30% will be dedicated to the ecosystem, another 30% is allocated to the team and advisors, 5% is provided for events, and the rest 35% will be used for marketing and be reserved.
The KENT token has been listed on LBank Exchange at 15:00 (UTC+8) on August 26, 2022, investors who are interested in the Kinetic Network investment can easily buy and sell KENT token on LBank Exchange now. The listing of KENT token on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
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