In 2017 a record number 875 ICOs raised over $6.2 billion. But perhaps the most sobering statistic coming out of the 2017 cryptocurrency boom is the growing number of digital currencies that have proven to be nearly worthless. In June 2018, Dead Coins listed 800 coins that are effectively worth nothing, while Coinopsy put the tally at more than 1,000.

So what’s responsible for the rampant crypto fail? Many would suggest that getting on an exchange too soon–before establishing a strong foundation built around value–is a major factor. Kala’s advisory team has carefully monitored the crypto environment, consulting with crypto experts, partners, and exchanges to determine the best strategies that will protect Kala’s network and solidify its value.

Kala’s strategy is different than many other cryptocurrencies. This is deliberate; we don’t want to be another worthless coin statistic.

As announced in our recent milestones blog post, the Kala team has decided to focus on the steps to establish a solid, foundational value before hitting exchanges in mid-2019. While exchanges consider several factors when deciding whether or not to add a currency, the primary consideration is if a project offers a high-quality, value-adding product or service.

Quick Look at Kala’s Strategic Road to Building Value

Switching from an ERC20 token to our own blockchain establishes more legitimacy for Kala in an arena rampant with scams.
Launching our own blockchain and beginning Kala mining gave Kala a solid foundation and set us above hundreds of other coins who do not have their own unique blockchain code.
Building Kala’s network, increasing the number of Kala miners, and furthering distribution of the the network gives Kala an even stronger footing.
Releasing the Kala Wallet, which provided a safe, secure place for users to store, send, and receive their Kala.
COMING SOON: Launching Kala Listings (Jan. 2019), a private platform that facilitates the secure peer-to-peer trading of Kala for the first time.
ONGOING: Kala integration in the Symatri ecosystem and with partners to establish Kala’s utility and increase use-cases. The more use-cases spread across a variety of markets, the stronger Kala becomes.
ONGOING: Reach targeted hash power threshold, which would place Kala on safe and sustainable footing.
FUTURE: Get on a public exchange mid-2019 with a strong foundation and value.
FUTURE: Further Kala integration within our own ecosystem and with partners. More utility protects the value long-term for all Kala users.

As you can see, Kala’s roadmap has been designed to get Kala on an exchange at the right time, with the right framework, and ultimately at the right value, thus avoiding the common pitfalls of hundreds of coins who jump to an exchange too soon.

Building something that lasts takes time, and we appreciate the support of our Kala community as we continue to reach our milestones.

Make sure to get your Kala Wallet ready and stay tuned for the launch of the Kala Listings coming soon!