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Token development platform enables utility token creation, tapping into Ethereum’s flaws with faster, more secure Blockchain based on the PoA protocol.
Modern enterprises and corporations worldwide still have the greatest interest in Blockchains. Although ICOs managed to raise more than $5.6 billion throughout 2017, 52% proved to be unsuccessful due to reasons such as weak business models, improper tokenomics, or unrealistic goals. Sadly, Ethereum has limitations that don’t allow entrepreneurs or developers to reap all the benefits of a fully decentralized network.
Security breaches, high gas fees, low transactional speed, and technical requirements come in the way of building a transparent utility token with real adoption chances. In the absence of a universal Blockchain platform, in order to streamline processes and enable businesses to issue secure utility tokens, Lindacoin launches the LindaX token development platform; a project that promises to give Ethereum a run for its money.
Tackling Ethereum’s weak spots with a proof of authority consensus
Some business owners cannot develop digital tokens on their own, just like some developers have difficulties dealing with hards forks and cannot develop fully decentralized Dapps. The LindaX projects aims to tackle Ethereum’s weak spots with a proprietary Blockchain that relies on the PoA (proof of authority) consensus algorithm to speed up transactions. As opposed to Ethereum, which can only handle 6 transactions per second, LindaX starts at 179 transactions per second, and can go beyond.
Developing a unique utility token goes beyond computer code powered by Blockchain technology. One of the main advantages of LindaX is that it integrates a developer software system within its main chain to craft a dynamic environment for creating digital coins and Dapps. LindaX comprises a varied set of commands and tools that enable users to merge regulations with Blockchain more efficiently. The platform helps create the perfect infrastructure for enterprises seeking to leverage the distributed ledger technology to launch a Blockchain-business in secure, tamper-proof environment.
As a fork of the Ethereum Blockchain, LindaX can be viewed as a predecessor that users certain consortium models and protocols to help developers build customized digital assets and utility tokens for their token sale events. The platform’s core objective is to streamlines all processes involved in the making of a digital coin, from initial concept to production.
Trajectory and Orbital, the testnet and maininet frame the backbone of LindaX
‘Trajectory’ is the proprietary LindaX testnet which developers can use to test and deploy the platform’s advancements. In addition, it provides vetted developers with the perfect environment to test smart contracts and Dapps without paying for network costs. The testing network simplifies the process of developing a token because it allows iterations, thus ensuring a smoother transitioning onto the mainnet, ‘Orbital’.
For LindaX to be able to function properly, it needs Orbital to power the network by enabling the PoA consensus algorithm. Even though the mainnet is not deemed as a development Blockchain, it requires all published contracts and Dapps to undergo a revision and approval phase before being allowed to be publicly displayed on the LindaX blockchain.
Following the successful completion of its ICO pre-sale in the summer, when all 3 million LX tokens were sold in less than 12 hours, LindaX pursues the official launch of its proprietary wallets, ‘Trajectory’ testnet and ‘Orbital’ mainnet. As stated in the official LindaX whitepaper, the team plans a public token sale as well in the spring of 2019.