Kylacoin is a cryptocurrency designed to act as money and a form of payment system outside the control of a person or a group, that operates free of any central control or the oversight of banks or governments. Kylacoin can be obtained through a process called proof-of-work mining, or simply mining. Anyone can sell it and buy it without an intermediary like a bank. Kylacoin enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol with the help of cryptography. Kylacoin transactions are verified by the network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Kylacoin is a medium of exchange, such as the US dollar, but is digital and uses cryptographic techniques and its protocol to verify the transfer of funds and controls the creation of monetary units.