Krakin’t - quick status update

There are several things happening at the moment. One is the development of the web-page, which is almost done. Second is the white-paper write-up. Then comes the miner and the last look at the source code before deployment, and then the Dapp for mining. All of this will have to be released at once, and it may seem that Krakin’t has stalled. This is never the case.

Another small issue has just occurred with the Twitter. Since I have used my old phone number, trying to expand the Twitter network, the account got kicked out asking to change the password. I simply didn’t know that this would happen and so I didn’t change the telephone number. The only way to do it is to have the old phone number, which can’t be done… It looks like the Twitter account is now blocked and that another account will have to be opened. So much about Twitter, I will most likely open a new account, and try alternatives.

Furthermore, the current state of the market is very bad. There is a lot of projects which are in the top 300 on CoinMarketCap and that have a very low liquidity. This simply means that all the money is the printed market capital money and that nobody wants to invest. I am not sure what will happen with the market prices, while my prediction is that things will be much worse than they are now. On some exchanges (Binance) a lot of transfers are fake, and as soon as the actual money is deposited, the price start dropping. For example, REQ token, which made me look like I bought the peek and had the price dropped by more than 50%. I honestly hope that I am wrong about all of these manipulative games, and all of these are just the observations. However, it also means that Krakin’t will shift its focus away from the cryptocurrencies. Shifting away the focus means that KRK will be listed on as many exchanges as possible, miner will be coded with a DApp, but as soon as that is done, I will work on establishing the Krakin’t as a centralized company that uses the KRK token as a side-tool. The main goal, at the end, will be to create the Krakin’t so that people don’t need to know whether they are making transfers on a block-chain or not (unless they want to get technical). For this, we need to be connected with Changelly (or similar) and enable the direct KRK to Fiat (and back) transfers. Therefore, focusing entirely on the cryptocurrencies might be a waste of time and money, which is something Krakin’t cannot afford at the moment.

This also means that the 21mil tokens as a total supply might change depending on the need, since it is very hard to predict how the tokens will be used by different exchanges, etc. Also, it means that there must be some changes done to existing miner contract. I am thinking about making the miner completely independent of the token supply. That way, we will not have to worry about co-dependence of a miner and the state of a token. This means that a few more days will have to be spent on coding a miner contract. I hope that by the end of this year, we will have a token, miner, Dapp, white-paper, technical docs, and the web-page ready and launched. In the 2021, Krakin’t will be working on exchange listings only, marketing, and enabling it as a centralized company. There are many new features that Krakin’t will be working on, while the current state of cryptocurrency affairs is standing in the way. In some distant future, it would be awesome to have Krakin’t listed on the stock exchange as well as the cryptocurrency exchanges… But that is something I cannot see happening in 2021.