Why do cryptocurrencies fail?
According to The Quartz Index, 800 to 1,000 ICOs failed in just the first 6 months of 2018, despite the consistent rise in the number of coins hitting the market. (Quartz, 2018)
So what sets a good coin ahead of the rest? It seems that while many coins rush to create a short-term spike in value, most forget the most important element: creating real, long-lasting value that isn’t dependent on an exchange.
Lucky for us, Kala has always been different. From day one, Kala’s advisory team has been focused on building the framework to support a thriving ecosystem that will provide value both before and after Kala hits a public exchange.
A Thriving Kala Economy
The Kala Economy is made up of several components, each working to support the life and longevity of the Kala coin. By establishing a diverse set of use-cases and business partnerships, Kala is building the infrastructure to withstand the ups and downs of the crypto market, and make a name for itself in the process.
The Kala ecosystem is being strengthened in many ways:
- Mining – Our community can mine Kala through pre-configured mining rigs and coin mining contracts. With thousands of users and counting actively mining, the Kala network already has a hash power that far exceeds most coins on the market.
- Current Partnerships – Symatri partners will integrate Kala for membership enrollment payments, product purchases, member commission payouts, and more
- Kala Wallet – Unique and easy-to-use crypto wallet with thousands of users that provides a safe and secure place to store, send, receive, and use Kala
- Additional Uses – Kala will continue to integrate uses in our own ecosystem. This includes the CORE platform and Reach marketplace, which allow users to earn Kala through online activities, then spend it on real items.
- Business Partnerships/Applications – We are already being approached by other businesses looking to partner with or integrate Kala, which will expand the ecosystem even more
- Trading – Users can begin trading Kala through Kala Listings, which facilitates peer-to-peer transactions of Kala and BTC.
By creating a diversified, secure foundation, Kala value is not subject to the perceived price of an exchange but is instead tied to concrete applications to last for years to come. For more on Kala’s ecosystem, read up on Kala’s 5 Reasons to Get in With Kala Rigs and Reason #4 – Kala’s Growing Ecosystem.
Leveraging the Kala Network
The Kala coin’s use-cases are not the only thing influencing long-term value. As the Kala blockchain network continues to grow, it becomes a valuable offering in itself that can be used to foster business partnerships across a variety of markets.
Businesses seeking blockchain applications of their own can tap into the Kala network to support and power their projects. As Kala’s distributed network reaches its target hash power threshold, it not only becomes a valuable selling point for exchanges but further increases its capacity to support B2B partnerships.
Members of the Kala network can only stand to benefit from these partnerships, as they participate first-hand in a thriving Kala economy and gain direct access to business offerings down the road.
Doing it Right
As with all good things, building a sustainable ecosystem takes time. New use-cases must be carefully tested, applications created, and partners must implement Kala into platforms of their own, giving their users the chance to use Kala.
Each step must be thoughtfully taken to build a foundation that can withstand an often unpredictable crypto market. Advances like the Kala Listings platform also put the Kala Community first, focusing on those who are supportive of the success and usage of the Kala Coin, and not just the speculation of value. This is why the Kala Advisory team has waited to join a public exchange, strategically holding off until the Kala ecosystem has time to mature.
With new Kala applications on track in the months ahead, the Kala team feels confident in the plan to join a public exchange by mid-2019. More information on upcoming Kala Milestones can be found in our recent article, New Milestones Sharpen Kala’s Focus.