Kaon KAONPrice $ 0.000103

Kaon is a blockchain platform designed to integrate Bitcoin with Ethereum Virtual Machine (EVM) capabilities, enabling seamless cross-chain interactions. It operates as a Bitcoin sidechain, utilizing Bitcoin Core code alongside a Delegated Proof of Stake (dPoS) consensus mechanism. This architecture allows users to purchase Bitcoin directly using EVM-compatible wallets like MetaMask and transfer it to their Bitcoin wallets through specific OP_CODEs or smart contract addresses. Kaon's open architecture ensures transparency and security by allowing every transaction to be openly verified on the blockchain. The platform employs a cross-chain consensus mechanism called Galaxy, which utilizes Store Groups, Shamir polynomials, and Threshold Signature Scheme (TSS) signatures for secure cross-chain operations. Validators in the Kaon network are selected through a public voting process, ensuring decentralization and security. The native token, $KAON, is used for staking and governance within the network. Kaon also supports the creation of Mirrored BTC, a digital twin of Bitcoin on the Kaon blockchain, facilitating interoperability between Bitcoin and EVM-compatible chains. The platform's design emphasizes flexibility, transparency, and security, aiming to bridge the gap between Bitcoin and Ethereum ecosystems. Kaon's innovative approach leverages existing blockchain technologies to provide a user-friendly and secure environment for cross-chain.