KIRA, the decentralised network secured by both crypto and real world assets at stake, is approaching the launch of its mainnet. This is to launch in the Proof of Authority mode, which is similar to that used by Polkadot. NFT and KEX staking is to move from Ethereum to the native KIRA chain.
Within the mainnet launch will be included a governance module to establish rules for on-boarding new validators, new governance members, and also the management of on-chain upgrades.
In the transition phase KIRA will continue to support KEX staking as an ERC-20, and will introduce a new NFT staking mechanism on Ethereum (similar to stake.kira.network). Early backers will start to receive the native KEX tokens. These will not be exchangeable for the legacy ERC-20 tokens, and therefore, holders of ERC-20 KEX will need to swap to native KEX when the KIRA cross-chain ethereum bridge module is operative.
As well as the ethereum bridge module, KIRA will also release the MBPoS consensus module. At this time governance will begin managing the economic impacts of network operations, such as defining fees for interacting with the blockchain application and setting the interest rates for staking assets on KIRA.
KIRA is looking to transition into a fully Turing-complete blockchain operating system that will enable sharding/securing parallel chains, and the expansion of the network through on-chain contracting modules.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.