Amber

World’s Largest Digital Asset Transaction Takes Place and LinkToken Attracts Attention

UTC by Andy Watson · 6 min read
World’s Largest Digital Asset Transaction Takes Place and LinkToken Attracts Attention

Just recently, LinkToken (LTK) has been used to carry out the transaction that is now viewed as the world’s largest digital asset transaction in history.

Once LinkToken (LTK) used to be one of the most popular digital assets in China. And now it has managed to catch people’s eyes again. On July 23, LinkChain Tech announced that it has acquired 36% of the Sevenstar Bay Yacht Club shares with 260 million LTK, which was probably the largest digital asset transaction worldwide.

With a total value of 2.6 billion yuan, the big news has thrown a bomb to the blockchain industry. Not only many former investors began to reconsider LTK’s value, but also some foreign investment institutions got down to study it.

What is LinkToken(LTK)?

LTK caused a huge fever across China as soon as it appeared in 2017. It was designed to be the medium in a free trading scenario as well as the large-scaled shared computing ecosystem and worked as the incentive for idle network bandwidth and storage contributions shared by users through OneThing Cloud, one of the best-selling smart hardware products in China.

Users can obtain LTK as rewards for sharing network resources, and they can exchange them for commodities and services, such as membership of iQiyi, on LinkToken Mall. Due to the high reward of sharing, there was a severe shortage of OneThing Cloud that people would pay 5-10 times price higher to purchase.

LTK has accelerated the success of shared computing ecosystem. Up until now, being popular with over 35 million users, more than 1.5 million OneThing Cloud have been involved in this mode, constituting 30T bandwidth and 1500PB storage space, serving the robust ecosystem for hundreds of Internet enterprises such as iQiyi, Youku, Kuaishou, and Douyin, etc.

Cloud computing is undoubtedly one of the fastest-growing areas in the next few years with the development of 5G, and the value of LTK along with its shared computing ecosystem will be maximized in this area. Besides OneThing Cloud, there was also a large number of innovative hardware devices to join in.

In 2019, OneThing Cloud mini, a new terminal of cloud computing which connects idle mobile phones, won the CES Two Picks Award. More devices such as smart TV, boxes and speakers could gradually be incorporated into the LTK ecosystem as well. 

LTK is expected to be the incentive for idle network bandwidth and storage contributions. Unlike other tokens, LTK is aimed at real business applications, the practical value of which is long-term, so that realizing the vision of replacing the traditional cloud computing services represented by Amazon Cloud etc. seems not a mission impossible. And it can be seen that LTK users will be the largest beneficiaries of cloud computing.

As Native Token of LinkChain, LTK Has Bigger Plans

Soon after taking over the operation rights of LTK, LTK Pocket, and LTK Mall in September last year, LinkChain Tech launched LinkChain, a new public blockchain, and LTK became the native token of LinkChain.

In just two months after the releasing of LinkChain, it has officially announced its open-source plan and a blockchain browser, published a white paper, as well as initiated the validator node recruitment. The road for LinkChain and LTK is becoming clearer: to be more open, more autonomous, and to be applied to more commercial scenarios.

To provide fast and secure blockchain infrastructure for various applications, especially for those that require privacy, LinkChain is dedicated to improving its technique performance. LinkChain designed Elective Byzantine Fault Tolerance (EBFT), the high-performance and strongly consistent consensus model which ensured transactions to be confirmed within 1 to 3 seconds.

Multi-chain architecture and Layer 2 expansion scheme would be adopted which guaranteed the infinite scalability of LinkChain. It also applied a privacy protection mechanism that can hide the addresses and token amounts of both sides participating in the transaction. To ensure the feasibility of the on-chain business and finance adoptions, LinkChain introduced the credit scoring system and multi-asset account model among other features, which makes it possible to build on-chain and off-chain trust.

In the project named ChaoYouHui built upon LinkChain, the users may deduct the payment directly by credits (Chao Credit) accumulated in the previous purchase activities, which takes LTK as GAS of transfer, promoting the activeness of the circulation of LTK. The project has been proven to be a success, as there are more than 600 partners in the two pilot cities with over 20 thousand users in 6 months, and there will be more.

One of the reasons that LinkChain can motivate so many real business adoptions is its high performance and privacy protection which other public blockchains can’t offer. And the technical advantages that enable the real economy is the core value of LTK.

Under the stimulation of these multiple favorable conditions, LTK has been a small upsurge in the market since this year, with a maximum increase of more than 400% since April.

The Future of LTK

LinkChain has full confidence in LTK’s future and believes that the vision of “becoming the world’s top commercial public blockchain” will be realized soon with the LTK’s recognized value.

Focusing back on the 2.6 billion-worth transaction, it’s worth mentioning that it was a real landmark for LTK’s history as well as for the whole blockchain industry. Pricing LTK as 10 yuan, which is 16 times higher than the current market price, fully explains that LTK’s value as a digital asset is being accepted by more and more enterprises.

“I believe that LTK’s value is underestimated by the market right now, but don’t worry, they will see”, noted the Executive Director of Sevenstar Bay Yacht Club.

The two partners will give full play to the advantages of the LinkChain and LTK in terms of technical performance, privacy protection, trust transmission on and off the chain, to solve the bottlenecks in the credit system, traceability system, asset circulation mode and other aspects in the development of the maritime industry.  This move will also help to expand the new role of the token in the cross-border yacht trade and tourism real estate in the GBA, as well as to create a new ecology of the marine economy in the GBA and seize the golden opportunities for the development of the 10 billion-scale marine economy industry.

On the other hand, LTK’s community is also growing. The above-mentioned recruitment of global validator nodes is already in progress, and more nodes will be recruited in the future. As Li Linwei, CEO of LinkChain, said LinkChain attaches great importance to autonomous co-construction. Validator nodes are elected to jointly build the chain and obtain high rewards. LinkChain Tech plans to invest not less than 20 million LTK to be allocated for being used as node rewards throughout the year.

Li Linwei noted:

“LinkChain Tech hopes to join hands with global partners to build LinkChain, and create an unprecedented ecosystem, and jointly share 100 billion-level shared computing dividends.”

Looking back, it is the functionality and scarcity of LTK that had consolidated the basis for LinkChain. Looking forward, LTK will play bigger roles in the ecosystem, and its value will be recognized in more business applications in return. Based on shared computing, LTK is going to create great business value to the GBA, and even to the world.

Altcoin News, Blockchain News, Cryptocurrency news, News
Andy Watson
Author Andy Watson

Please check out latest news, expert comments and industry insights from Coinspeaker's contributors.

Related Articles
EarnBet