What is Kite Coin? Information about Layer-1 Blockchain and AI Payment Platform

Source: BTCHaber Original Title: What is Kite coin? Original Link: https://www.btchaber.com/kite-coin-nedir/ Kite is a layer-1 blockchain network designed specifically for artificial intelligence applications. It has been introduced as the world’s first AI payment platform. The platform’s cryptocurrency is known as KITE.

Thanks to Kite’s infrastructure, artificial intelligences can maintain their own identities and execute payment processes autonomously. This infrastructure also aims to ensure security without human oversight.

The development of such technology is driven by the current inability to fully trust shopping bots or trading assistants to make payments. To address this issue, Kite proposes a system called SPACE.

Who are the founders of Kite?

Kite was founded in 2024 by Chi Zhang and Scott Shi.

How does Kite work?

Kite transforms the human-centered payment model into an autonomous structure operated by artificial intelligences. It achieves this using a framework called SPACE. SPACE stands for stablecoin, programmable constraints, agent identity, compliance, and economic viability.

In this context, stablecoin indicates that Kite uses stablecoins for transactions. Programmable constraints are the rules that smart contracts impose on artificial intelligences, which are mandatory to follow. Agent identity refers to the identities assigned to AI agents. Compliance represents an immutable audit trail recorded while protecting user privacy. Lastly, economic viability refers to the system’s ability to efficiently send very small amounts.

The role of Kite coin in the project

To understand the role of Kite coin, it’s important to note the difference between it and other stablecoins used on the platform. Agents transfer funds to each other via stablecoin, and the network operates with KITE. In other words, KITE coin is used to secure the network, manage the ecosystem, and derive value from AI agents.

Users can stake KITE to participate in the network infrastructure. Those who want to utilize AI services can lock Kite into liquidity pools to run modules. This ensures collateral for module operation. Developers must hold KITE to integrate into the ecosystem. Finally, validators stake KITE to verify transactions and maintain blockchain security.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.