Building decentralized applications doesn’t have to be difficult, and settling Layer 2 application states doesn’t need complex cryptographic operations. The new approach starts onboarding deterministic Web2 systems, propelling the evolution of composable Web3 far beyond previous limitations. This innovative method simplifies the process, making it more accessible for developers and users, creating a seamless transition into the decentralized future. Integrating these advanced capabilities paved the way for a more interconnected and efficient digital ecosystem. KIRA Network embodies this revolutionary approach, bridging Web2 and Web3 seamlessly.

What is KIRA (KEX)?

KIRA (KEX) was founded in 2019, establishing its headquarters in the Asia-Pacific region, specifically Singapore. KIRA consolidates the full stack into a unified solution, addressing the complexities, latency, and risks of integrating separate systems. This approach provides the necessary infrastructure, scalable hardware resources, data availability, sequencing, and shared security for resource-intensive, web2-like applications such as gaming and AI. KIRA’s design allows its Layer 2 applications to match Web2 in user access scale, ease of building, deployment time, and operational costs while independent of traditional blockchain infrastructures and Virtual Machines.

KIRA functions as a financial hub, connecting decentralized Web3 applications. It is the first network to host, power, and secure DeFi applications with real assets at stake, offering cross-chain access to uncapped liquidity and tokenized assets. This integration enables seamless value settlement between decentralized applications and the largest interconnected networks in the cryptocurrency ecosystem.

KIRA’s innovative approach empowers a new generation of decentralized applications to rival Web2 regarding functionality and user experience. By providing a secure platform for deploying decentralized applications and issuing digital assets, KIRA continues to push the boundaries of decentralized finance, aiming to revolutionize the Web3 stack and enhance the capabilities of decentralized applications.

How Does KIRA Work? Key Components and Layer 2

KIRA Network leverages several modular components to deliver a comprehensive full-stack experience, ensuring seamless operation and interaction within the ecosystem. These components include SEKAI, INTERX, MIRO, and RYOKAI, each serving a distinct purpose to enhance the functionality and security of the network.

SEKAI

SEKAI is the core blockchain application of KIRA, responsible for all on-chain logic. It manages user and RollApp account balances, maintains the integrity of state roots, and facilitates cross-RollApp communication. SEKAI ensures that the necessary infrastructure for running RollApps is in place, supports economic activity through liquid capital, and provides shared security for all applications on KIRA. It iterates upon Tendermint consensus with its Multi-Bonded Proof of Stake (MBPoS) mechanism, allowing the staking of multiple whitelisted assets and KEX, KIRA’s native token. Consensus Nodes, or ‘validators,’ propose new states of the SEKAI blockchain derived from blocks containing an ordered list of transactions carrying user requests. These instructions are then executed by each full node following the SEKAI codebase, which defines how to interpret and apply them. SEKAI simplifies RollApp deployment by coordinating metadata, enabling consensus nodes to volunteer as Executors, and integrating seamlessly with KIRA’s native liquidity protocol.

INTERX

INTERX, the Content Availability Layer, ensures scalable and rapid access to on-chain and off-chain data without relying on third-party services like Infura or Celestia. It streamlines front-end and RollApp creation by eliminating the complexities of light clients and supporting sequencing, storage, fraud-proof generation, and load-balancing. INTERX acts as a decentralized API, enhancing communication between KIRA’s back-end services and their front-end applications. It achieves this by enabling well-connected, application-dedicated network subnets. INTERX simplifies the transition from Web2 to Web3 for developers by removing the complexity of blockchain interactions. By offering a familiar Web2-like API interface and acting as the default ‘Sequencer’ for applications, INTERX reduces the learning curve of Web3, empowering developers to focus more on their business logic. Its combination of digital signatures and fraud proofs effectively functions as a decentralized API, eliminating the need for light client implementations and maintenance and dependence on centralized SSL certificate authorities.

MIRO

MIRO serves as KIRA’s front-end application, web wallet, and design pattern for RollApps. It offers a Web2-like user experience, allowing users to interact with the KIRA blockchain securely from their browsers. MIRO is self-contained, operating locally on the user’s device without relying on external hosting servers. All actions taken within MIRO, from transactions to account management, happen within the user’s device without external hosting servers, requiring only a connection to at least one local or public INTERX node. Notably, MIRO does not rely on light clients and leverages the security of INTERX for blockchain communication. This is possible thanks to INTERX’s swarm request feature, designed to work optimally when MIRO interfaces with multiple INTERX nodes, ideally operated by different entities. The real strength of swarm requests lies in their ability to cross-check signed responses from multiple nodes to identify any inconsistencies and allow the creation of fraud proofs against false data.

RYOKAI

RYOKAI, previously known as KIRA Manager, is the orchestration tool for managing the backend operations of KIRA’s stack components for consensus nodes. It automates critical processes such as SEKAI system upgrades, containerized Layer 2 application deployment, and INTERX configuration. RYOKAI enables nodes to manage their infrastructure across various platforms, providing flexibility and enhanced security. It includes monitoring tools like Prometheus exporters and firewall configurations to ensure network health and prevent unauthorized access. RYOKAI facilitates the initialization and management of nodes via a built-in terminal, which permits the direct execution of commands on remote hosts. Additionally, it offers cross-platform support, enabling Consensus nodes to manage their ‘validator’ accounts on Android, iOS, and Linux devices. These features allow operators to access and control their infrastructure from any location.

These key components work together to create a robust and secure ecosystem for KIRA, enabling the efficient operation of decentralized applications. This foundation sets the stage for KIRA’s Layer 2 solutions, further enhancing the network’s capabilities and performance. The next section will explore how KIRA’s Layer 2 solutions integrate these key components to deliver a seamless user experience.

Source: kira.network

Layer 2

KIRA’s Layer 2 solutions are designed to provide decentralized applications (dApps) with unprecedented scalability, efficiency, and operational cost-effectiveness, rivalling traditional Web2 applications. By decoupling from traditional blockchain infrastructures and Virtual Machines, KIRA empowers developers to build, deploy, and scale their applications independently.

KIRA’s base layer, SEKAI, supports governance, token transfers, multi-staking, and system security-related on-chain logic while assisting in the execution of decentralized applications on dedicated off-chain subnets. This architecture allows for parallel scaling of execution, storage, and networking capabilities for each application, known as RollApps. RollApps consist of an execution container defining application logic and a verification container ensuring the correctness of state changes.

KIRA’s approach to Layer 2 is characterized by its pessimistic assumption of incorrect computations. For a RollApp’s state to be finalized, its execution must be verified through a consensus of Verifier nodes following programmable verification rules. This contrasts with optimistic rollup systems, which assume correctness unless fraud proofs are presented, potentially delaying the settlement process.

Before a RollApp can be executed on KIRA, its code, bond in KEX tokens, and metadata describing necessary resources and infrastructure must be published on-chain. Like Ethereum smart contract deployers, controllers activate the RollApp submission process by sending a transaction with all necessary data on-chain. This ensures that Consensus nodes can evaluate their hardware capabilities and prevent spam. A minimum bond in KEX tokens ensures developers’ commitment, and this bond can be crowdsourced across collaborators.

Once approved, RollApp tokens representing ownership are minted and paired with the bonded KEX in an AMM pool, distributing LP tokens to all contributors. This permissionless, crowdsourced process is similar to Polkadot parachain auctions but keeps bonded KEX liquid, allowing RollApp tokens to be traded and used for liquidity provision.

KIRA’s Layer 2 supports two primary roles: Executors and Verifiers (Fishermen). Executors are responsible for running the execution container and periodically proposing state changes, while Verifiers ensure the integrity of these changes. Executors risk their ‘validator’ role and income if they act maliciously, while Fishermen provide bonds as collateral, subject to slashing for incorrect judgments.

Computation in KIRA’s Layer 2 occurs in timed periods called Sessions, akin to “challenge periods” in Ethereum optimistic rollups. However, KIRA settles the state only after sufficient verification votes confirm correctness. Each session is led by an Executor who proposes new state roots and changes to account balances. Other Executors and Verifiers collect input data, verify the results, and ensure consensus before finalizing the settlement.

By providing a robust and innovative architecture, KIRA’s Layer 2 solutions enable dApps to achieve high scalability, security, and efficiency. This positions KIRA as a leader in the decentralized application landscape, offering a powerful alternative to traditional blockchain-based systems.

Source: kira.network

KIRA Use Cases

KIRA Network’s innovative infrastructure and decentralized approach open up a variety of use cases that can significantly impact different sectors. Here are some of the key use cases:

• Decentralized Finance (DeFi): KIRA supports a range of DeFi applications, including lending, borrowing, and trading platforms. Its robust security measures and efficient transaction processing make it an ideal platform for developing and deploying decentralized financial services that require high reliability and security.
• Gaming: KIRA’s infrastructure is well-suited for hosting resource-intensive gaming applications. By providing the necessary hardware resources and decentralized infrastructure, developers can create complex, immersive games that run smoothly and securely on the network. This includes multiplayer games, virtual worlds, and NFT-based games that require robust transaction processing and data management.
• AI and Machine Learning: KIRA’s network can support AI and machine learning applications that require significant computational power. Developers can leverage KIRA’s decentralized infrastructure to run large-scale data processing and machine learning algorithms, enabling the development of intelligent applications in various fields, such as healthcare, finance, and robotics.

These use cases illustrate the versatility and potential of KIRA Network to support a wide range of applications across different industries, driving innovation and enhancing efficiency in various domains.

KIRA Main Features

KIRA Network offers a range of advanced features designed to support and enhance decentralized applications. These features provide the necessary infrastructure, security, and modularity to create robust, scalable, and efficient applications. Below are some of the key features:

Virtual Finality Gadget (VFG)

The Virtual Finality Gadget (VFG) is a programmable finality mechanism that grants each application on KIRA the ability to establish its own verification and consensus rules. It divides application logic into execution (operated by Executors) and verification (overseen by Fishermen) components. VFG allows developers to customize their finality logic, such as choosing an optimistic model of execution (rollups - valid by default), pessimistic (rolldowns - invalid until verified), or any bespoke verification logic. This flexibility is particularly useful for complex, blockchain-less, Web2-scale applications, such as AI and gaming, making it impossible for an attacker to predict the success of an attack due to the customizable verification rules.

Source: docs.kira.network

Infrastructure

KIRA provides the decentralized infrastructure and essential hardware resources like CPU and GPU to run applications natively on the network. Uniquely, developers can define and choose the specific resources needed for their applications. With decentralized middleware (INTERX) integrated, RollApps are self-contained and do not rely on external providers for RPC, execution, or data availability. This flexible and all-inclusive approach empowers developers to focus solely on building their application’s core business logic without worrying about underlying infrastructure complexities.

Shared Security

All RollApps inherit base-layer security from KIRA’s main blockchain, SEKAI. By supporting native Liquid Staking Derivatives (LSDs), which enable any token to participate in restaking, KIRA can match the security of user deposits from external networks while preserving liquidity. This ensures that applications built on KIRA benefit from robust security measures, protecting user assets and data from potential threats and vulnerabilities.

Hypermodularity

KIRA adheres to a modular design across its full stack, offering out-of-the-box support for components like sequencing, data availability, application hosting, middleware, proxying, caching, autoscaling, and infrastructure management. This allows hardware providers to focus solely on supplying highly available resources while developers can prioritize the user experience without worrying about integrating disparate modules or managing infrastructure complexities. The modular approach enables KIRA to scale efficiently and support various applications and use cases.

KIRA Network’s main features, including the Virtual Finality Gadget, robust infrastructure, shared security, and hypermodularity, provide a comprehensive and flexible platform for developing next-generation decentralized applications. These features enable developers to build and deploy applications with ease while ensuring security, scalability, and efficiency. The next topic will delve into the specifics of KIRA’s Layer 2 capabilities, highlighting how they further enhance the network’s functionality.

What is the KEX Coin?

KEX is the native token for KIRA, used for staking, governance, and transaction fees. Its maximum supply is capped at 300 million units, of which 205.5 million (68.5%) are already in circulation (July 2024).

KEX facilitates transactions and governance within the network, ensuring smooth operations and robust security. KIRA employs a unique Multi-Bonded Proof of Stake (MBPoS) system, allowing a diverse range of digital assets—including BTC, ETH, NFTs, and stablecoins—to be staked. This increases network security and supports liquid staking derivatives for economic activity. The Initial Liquidity Offering (ILO) mechanism ensures sufficient liquidity for decentralized applications (dApps), engaging stakeholders through governance proposals to support dApp development.

KEX’s inflation rate, determined by governance, attracts participation and maintains security. The Token Aliases Registrar module defines incentive distribution, keeping KEX desirable for users. With an 18% annual inflation rate, KEX encourages network activity and value retention. The three-month claim period for token distribution ensures predictability and fairness, with early submissions incentivized.

Until August 2023, the core team controlled approximately 88.6% of the total KEX supply, while the circulating supply was about 11.3%. During the claim period, 55.53% of the total supply will be distributed, resulting in a market-accessible supply of 66.87%. The remaining supply will be allocated to the Treasury, Reserve, and future Core Team stakedrop allocations.

Source: kira mirror page

Rewards and Incentives

KIRA’s reward structure includes block rewards, fee rewards, and RollApp incentives. Block rewards are fixed KEX tokens minted per block, shared among delegators based on their staked assets. Fee rewards come from transaction fees, distributed similarly. RollApp incentives derive from swap fees in AMM pools, rewarding active Executors and Verifiers. Additionally, KIRA offers Universal Basic Income from KEX inflation to address network needs and stake grants from the treasury to bootstrap nodes. Auxiliary rewards enhance participation and foster community growth. This multi-faceted reward system ensures consistent incentives for network participants, enhancing overall network security and functionality.

Source: docs.kira.network

Is KEX a Good Investment?

KEX, as the native token of KIRA, benefits from its innovative Multi-Bonded Proof of Stake mechanism, which allows a wide range of digital assets to be staked, enhancing network security and liquidity. This versatile staking model could drive increased participation and growth. However, the complexity of KIRA’s full-stack solution and the necessity for extensive integration might pose challenges for adoption, particularly for developers unfamiliar with such intricate systems. Balancing these factors, KEX presents both promising opportunities and potential hurdles.

How to Own KEX?

To own KEX, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account and get it verified and funded. Then, you are ready to go through the steps to buy KEX.

News on KIRA

According to what was announced on the official KIRA blog on 12 June 2024, the launch of Chaosnet-2, KIRA’s new testnet, is now live and open for everyone to try. The MIRO frontend and wallet app, with a simple interface for local interactions, is now available. Key updates include the Virtual Finality Gadget (VFG), INTERX middleware, and the second generation of KIRA Manager (KM2). These enhancements support RollApps and improve the infrastructure for scalable, decentralized applications. The team is also working on demo apps, fully functional INTERX DA, and further improvements towards Mainnet.

Take Action on KEX

Check out KEX price today, and start trading your favorite currency pairs.

• KEX/USDT
• KEX/ETH