KredCoins
Introduction
Kred Coins are a dual-blockchain based CryptoCollectible developed by PeopleBrowsr. Users create, collect, share and connect various types of Personalized Collectible Coins.
Background
Kred Coins are not a cryptocurrency. Instead, the Kred Coins platform attaches a unit of fungible ERC20 value to a non-fungible crypto asset. Each Kred Coin is unique and owned by the user, validated through the blockchain, and its value can appreciate or depreciate based on rarity, attached media or metadata and the social engagement of the Coin. The unit of value is CƘr.
In 2018, CƘr, the Kred Coins unit of value costs $1 USD equivalent. Members create monetary and social value by interaction - creating Coins, sharing Coins and connecting with other Coinholders. Kred Coins cannot be replicated and cannot be transferred without the user's permission even by the developers.
Partners and developers can experiment and build innovative applications using the Kred Coins API.
Technology
The application operates on a unique dual-ledger system using both Stellar and Ethereum's underlying blockchain networks.
CƘr is stored either on the Stellar or Ethereum Blockchains (depending on how the holder of that CƘr wishes to store it) using the ERC20 protocol.
A Collectible Ƙred Coin is created on the Stellar network when Coin metadata and media files stored on IPFS are combined with ERC20 CƘr.
When a member wishes to move their Collectible Coin to the Ethereum network an ERC721 token is created and the IPFS metadata is moved to the ERC721 token. The media files remain on IPFS. The CƘr value of a dressed and minted Coin is between 1 CƘr and 100 CƘr.
The application has been whitelabelled for different communities including www.Kitty.Kred where owners of CryptoKitties can create shareable Coins featuring their CryptoKitties.
Resources
1. Whitepaper 2. Website
