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Token Trading Platform Aims to Become Faster and More Scalable Ethereum Network

UTC by Maria Konash · 3 min read
Token Trading Platform Aims to Become Faster and More Scalable Ethereum Network
Photo: LindaX / Medium

Token development platform LindaX overtakes the Ethereum Blockchain with a platform that speeds transactions via the PoA (proof of authority) consensus algorithm.

Modern entrepreneurs are gaining an interest in Blockchain-based projects, although developing a business based on the distributed ledger technology poses certain challenges. Two of the biggest are slow speed for processing transactions and high fees. Following several unsuccessful Ethereum forks, token development platform LindaX seems to have found the secret ingredient for increasing transaction speed while also providing more affordable costs for gas.

On Ethereum, forks happen when developers provide spin-offs to the initial source code within the Blockchain. LindaX is a next-generation type of fork that seeks to speed transactions by up to 50% with the recent development of its proprietary Blockchain.

Ethereum Makeover with 50% Less Transactional Costs for Gas

Targeted at both business enterprises and developers, token development project LindaX introduces an Ethereum-like network where users can make their own tokens by leveraging a series of protocols. Made for corporations and LLCs, the platform follows consortium models to outline specific behaviors and on-chain ethics.

LindaX enables multi-layer networks developed to improve decentralization. At its core, the software integrates within the network’s main chain, thus creating a dynamic approach to developing tokens and Dapps.

The underlying technology is similar to Ethereum’s ERC20, although it provides the added benefit of a support system for developers. The platform helps with utility token development, but also with marketing and additional demands that companies might have when launching a token.

Initially an Ethereum fork, LindaX will operate on its own Blockchain powered by a PoA (proof of authority) consensus algorithm. Block time on LindaX is an estimate at 5 seconds per block, allowing the Blockchain to start at 179 transactions per second and beyond, as opposed to Ethereum which can only manage 6 transactions.

Consensus Algorithm that Doesn’t Require Mining to Secure the Network

LindaX uses a PoA (proof of authority) consensus engine, which will be supported on LindaX’s Virtual Machine (LXM). The reason why PoA has been chosen instead of PoW (proof of work) is because PoA doesn’t involve mining to keep the network secure. Furthermore, the platform relies on ‘validators’ to make sure transactions added to the blocks are viable, properly processed and executed on LXM.

The PoA protocol solves critical security issues commonly associated with PoS and PoW networks much more efficiently. By using validators that are known publicly, accountability and trust can be outlined more clearly. Validators are rewarded for services rendered on the network, and failure to do so leads to loss of rewards.

An integral part of the LindaX Blockchain is the LindaX TestNet, also known as ‘Trajectory”; a testing network that helps developers deploy Dapps and smart contracts with zero costs. By focusing solely on back-end development, the client can optimize their utility tokens to make sure they live up to their expectations. By easing the transition from the testing phase to the production phase, the whole development process becomes smoother and hassle-free.

LindaX’s Trajectory testnet provides a smoother transition to the LindaX mainnet, ‘Orbital’, the main blockchain powering the network by employing the PoA consensus protocol. Orbital demands all Dapps and smart contracts published to be reviewed and approved prior to being deployed publicly. 

LindaX is a product of P2P, proof-of-stake (PoS) digital currency Lindacoin. Its aim is to become a trusted international token development platform. All token proposals will be pre-vetted before being accepted onto the network to ensure transparency and security.

LindaX held its ICO pre-sale for Lindacoin holders in August 2018 when all 3M LX tokens were sold out in 12 hours. Upcoming milestones include launching the LindaX proprietary wallets, ‘Trajectory’ testnet and ‘Orbital’ mainnet at the beginning of 2019.

Altcoin News, Blockchain News, Cryptocurrency news, News
Maria Konash
Editor-in-Chief Maria Konash

Being a successful graduate of Belarusian State Economic University (BSEU), Maria has acquired competencies in economic and social studies. Given Maria’s previous research working experience, and desire to explore what's really shaping the future, the main research focus is placed on FinTech and Blockchain Technology.

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