KoraPrice

(SN71)

Kora (SN71) primarily aims to enhance financial inclusion, particularly within emerging markets, by building infrastructure for an accessible financial system. A key problem it addresses in the Web3 space is simplifying transaction fees on the Solana network. It abstracts away the need for users to hold SOL for gas, allowing them to pay for transactions using various other tokens. This significantly lowers the barrier to entry for interacting with Solana decentralized applications, making Web3 more accessible to a broader audience who might not easily acquire SOL.

Kora (SN71) acts as an intermediary to facilitate "gasless" transactions on Solana. For users who wish to transact without holding SOL, Kora covers the necessary SOL gas fees on their behalf. Users then reimburse Kora for these fees using other tokens they already possess. This mechanism effectively abstracts the complexity and requirement of managing native network tokens for transaction costs, streamlining user experience and opening up Solana dApps to users with diverse token holdings.

Beyond its innovative gas fee solution, Kora (SN71) focuses on practical real-world applications to drive financial inclusion. Key use cases include mobile money integration and facilitating remittances, particularly in regions where access to traditional crypto services is limited. This enables users in these areas to interact seamlessly with Solana decentralized applications without direct exposure to the complexities of acquiring native network tokens. Earlier discussions also mentioned its potential for secure identification systems, data storage, and supporting low-cost marketplaces.

Kora (SN71) is built on Ethermint, which is an Ethereum Virtual Machine (EVM) blockchain. It leverages Tendermint consensus for its underlying operations. This architectural choice offers significant advantages, as Ethermint provides compatibility with Ethereum's extensive developer tools and smart contracts, allowing for easy migration of existing EVM-based projects. Simultaneously, the Tendermint consensus mechanism enhances transaction capacity and finality compared to traditional Ethereum, aiming to deliver higher throughput and scalability for the Kora network's operations.

The SN71 token's utility within the Kora ecosystem is primarily tied to enabling its core features. In the context of gasless transactions, SN71 plays a crucial role by facilitating the reimbursement mechanism. Users effectively spend other tokens to cover Solana's gas fees, and Kora, through its underlying operations, converts or manages these tokens, potentially involving SN71 in the process or as a means of value transfer within its infrastructure. This design allows users to engage with Solana dApps without direct SOL acquisition, enhancing accessibility.

Yes, Kora (SN71) has engaged in pilot projects to demonstrate its real-world applicability. A notable example includes a beta pilot project conducted in Nigeria. This initiative involved a partnership with a farming aggregator, successfully integrating Kora's solutions with a network comprising 25,000 farmers. Such partnerships and pilot programs are vital for validating Kora's infrastructure and its ability to deliver financial inclusion and enhanced Web3 accessibility in target emerging markets.