The Kinesis Wallet: a unique product crafted perfectly for Kinesis currencies
Kinesis Blockchain Networks (KBN) are bespoke networks developed from a fork of the Stellar network, and customised by the Kinesis team to facilitate the high velocity global nature of the digital currency suite.
(Link to Medium article about Kinesis as a fork of Stellar)
Due to the unique nature of the Kinesis blockchain and the extensive scope of applications proposed for this suite of currencies, Kinesis brings to the market an accompanying bespoke e-wallet in which to seamlessly and effortlessly manage and transact with all Kinesis currencies in a single convenient application.
The Kinesis Wallet presents a single, easy to use interface where a user can view all their Kinesis holdings in one place.
This wallet will provide Kinesis holders to easily transfer into the Kinesis Blockchain Exchange (KBE) in order to trade Kinesis for other cryptocurrencies and fiat currency. Additionally, the Kinesis Wallet will enable the user to fund their connected debit card in the Kinesis Pay system by selling Kinesis for Fiat, funding their debit cards, and performing the reverse process when needed. This wallet is a powerful tool with which to manage all balances and transfer functions of the Kinesis cryptocurrency in the Kinesis ecosystem.
What makes the Kinesis Wallet so unique?
Aside from the above-mentioned properties that the Kinesis Wallet is designed to offer, there are a number of key characteristics of the wallet which the software engineering team set out to achieve, and these are the following:
Ease of use:
The Kinesis eWallet is specifically designed to be user friendly and easy to use, where most wallets are complex and intimidating. The objective of this design was to make the process intuitive, smooth and avoid the confusion that cryptocurrency management often creates. The wizard-like approach to account creation and management at a glance means it’s always clear what one is looking at.
Transacting on the blockchain is made simple, with the results of one’s transfers being immediately visible. A full history of previous transactions is ready for view for each account, in the same simple to use interface.
All Kinesis cryptocurrencies in one wallet:
On opening the wallet one can clearly see a separate tab for each of the Kinesis currencies. As these are purchased, traded, sold, all one’s transactions and currency balances can be seen in the relevant tab. Many cryptocurrencies require different wallets to view different currencies. This was specifically avoided in the Kinesis wallet.
From within this same application a user will be able to manage the balances of each Kiensis currency they hold, keeping control over their crypto-assets as simple as possible.
Regular language reduces complexity:
It is a common user experience in a typical e-Wallets to manage lengthy and complex keys to identify accounts, to perform transfers, to create and upload account details and store encrypted key information. The Kinesis Wallet removes this unnecessary complication by allowing users to attach regular names to any of these keys for ease of use and future reference. A user need never be confused about what account is being viewed, the user-specified names will make it very evident.
Payee Management:
Since Kinesis is a fully fledged digital currency, with all associated functionality, it is anticipated that it will be used to make regular payments of expenses, wages, utility bills and family members etc. Currently, in most e-wallets there is no mechanism to perform repeated transactions to a recipient account without accessing those account public keys again every time. The Kinesis Wallet offers the unique ability to save payee details on transactions in order to retrieve these details from a payee list for any subsequent repeated payments. No lengthy keys need to be stored, accessed or identified again, simply select the payee from the stored list and proceed.
Advanced security features:
Security is of the utmost importance in a cryptocurrency, and is top priority across the entire suite of currencies and applications. The Kinesis Wallet is no exception.
A powerful security feature added to the Kinesis network via the bespoke Kinesis e-wallet is the ‘sign and verify’ function that secures any transfers at the request of the participants in a trade. If initiated, a signature allows a user to verify that a particular user holds the correct keys to a Kinesis account, ensuring that the payment goes to the intended recipient, hence authenticating a particular payment. This makes it a lot more difficult for an unauthorised party to intercept or execute an illicit payment on the network.
This security feature is utilised within internal processes in the kinesis currency exchange, for example in KCX whereby a minter of kinesis will need to sign a verification request in their Kinesis Wallet prior to the minted kinesis being emitted into their wallet. This will ensure that only the minter processing a purchase of Kinesis from within KCX will be able to authorise the wallet into which the kinesis will be emitted, and no other wallet can be used.
Additionally, an optional multi-signatory function exists to further secure transactions across a number of signatories who are required to authorise transactions on any account. This feature can be configured by the Kinesis account holder where multiple authenticated parties are required to approve a payment of kinesis prior to the payment taking place. Without these specified approvals the payment will not proceed. This is particularly useful for institutional users on the Kinesis system where more than one person in authority is needed to transact.
Seamless Access to a world of Kinesis functionality:
The Kinesis eWallet is also designed to allow seamless interaction across all the Kinesis platforms such as the Kinesis Commercial Centre, Kinesis secondary exchange, the Kinesis Pay Mobile Payment Platform and debit card systems.
From this one convenient application one will be able to transfer Kinesis currencies into all platforms to access the extensive range of features available to the currencies. This includes being able to transfer in real time into a fiat balance for fiat-based payments using the Kinesis Pay debit cards.
The adjustments in these balances will immediately be available for view in the Wallet, and the funds will be available to be spent on the debit cards.
From one’s first access to Kinesis, be it through minting in the primary exchange, purchase in the secondary exchange or receipt from another kinesis holder, the Kinesis Wallet will reflect the balances and enable full transactional ability.
Portfolio management:
Since Kinesis understands that the true usability of a currency lies in accessibility and ease of use, the Kinesis Wallet will also be available in Android and iOS mobile apps, putting the full power of these currencies literally in the hands of the users. The integration of the Kinesis Wallet with the Kinesis Pay debit card system means that from the convenience of a mobile phone application, within minutes Kinesis currencies can be converted into Fiat and spent on a debit card, bringing real time transacting to the Kinesis currency system.
The Kinesis Wallet is designed to be so much more than just an e-wallet; just as Kinesis is designed to be so much more than just a cryptocurrency.
The Kinesis team has ensured that this wallet adds yet another world class product to the Kinesis suite, and while the Kinesis Wallet serves ostensibly as an e-wallet for performing regular cryptocurrency activities, it has been designed to offer a multitude of additional dimensions of functionality facilitating easy access to and management of all services available in the Kinesis ecosystem, as fitting of a full-featured currency.
Rosalyn Charlton
CTO — Kinesis
