In pursuit of providing more incentives for the Kubo investors to support the project and developments, while attracting a new community of crypto enthusiasts into Kubo, the Kubo development team is implementing masternodes and the Proof of Stake algorithm on a new Kubo block chain. The new block chain, mobile wallets and desktop wallets will be released October 1, 2019 and will replace the current Ethereum based Kubo. This transition will shift Kubo from a token on another crypto’s block chain to a coin on its own block chain that is self contained.
The new Kubo chain will provide faster transactions, more network security when dealing with cyber attacks, and a passive income opportunity through masternodes. The new chain will also put Kubo on the trend that many projects in the space are following in transitioning from the Proof of Work algorithm that is prone to 51% mining attacks and using the more Eco-friendly and secure Proof of Stake algorithm. On top of the features already stated, the new chain will introduce an active burn protocol that will burn .001 Kubo per transaction.
This will complement the current burn policy that the Kubo project has where exchange listings paid in Kubo on the native exchanges in the Kubo economy get burned out of circulation. These two aspects coupled with coins locked away in masternodes and therefore not in circulation, will result in coin scarcity. Scarcity typically causes a positive trend in price and places a higher demand for Kubo in the market place. This typically results in more daily volume and added exposure of the project to those in and out of Kubo.
As the date of release for the new chain approaches, more information will be released to the community to further educate and provide more insight on what to expect.