A couple of comments here ...
First of all, "what is a kernel panic?" It is a situation where the kernel finds that it is impossible to continue; where it has no choice but to grind to a screeching halt. The panic is a consequence of whatever fatal condition immediately preceded it.
The message probably contains the message, "(not syncing)," which is very good: it means that a disk-write to the file system was not in-progress at the instant that the kernel died. (If it was "syncing," you probably now have a corrupted file system ... at best.)
Probably the most common point where you will see a panic is at system boot. Several things have to happen in very quick succession at this point: mounting the root file system, finding the init process and launching it, and so on. If any of these steps don't succeed, the system has no alternative but to halt.
Another slightly-less obvious situation is described as "tried to kill init," when a better description probably would be: "init died." This very-special process ("process #1") controls virtually everything and, as such, it is literally not allowed to die. Yet it is "an ordinary executable," dependent on such things as glibc and so-forth as well as the occasional direct or indirect bug. If this process dies, the system will immediately panic.
So ... your immediate question really can't be answered. By saying, "I have a kernel panic," you're only saying that your car is stuck by the side of the road. It doesn't say why it got there. HTH ...