What is Locus Chain?
Locus Chain (LOCUS) is a revolutionary decentralized public blockchain platform that aims to address the scalability and performance issues faced by traditional blockchain networks without compromising on the core principles of decentralization. The platform is designed to cater to a diverse range of users across various hardware devices, offering enhanced processing speed and improved handling capacity. Locus Chain's goal is to establish itself as the next-generation blockchain platform by solving scalability and decentralization issues while also providing interoperability technology that allows compatibility with other blockchain platforms.
According to the whitepaper, Locus Chain is a decentralized blockchain system that aims to achieve a minimum of 4000 transactions per second. The Locus Chain Network is composed of various devices, including generic home PCs, data center servers, mobile phones, and low-powered IoT (Internet-of-things) devices, all with varying levels of CPU performance, storage capacity, and network speed. This allows projects like decentralized finance (DeFi), non-fungible token (NFT), and decentralized exchange (DEX) to expand and enables the decentralized economic ecosystem to connect, evolve, and grow, promoting the growth of decentralized businesses.
The Locus Chain platform features several unique technologies, such as the Account-Wise Transaction Chain (AWTC), a unique ledger structure that enables high-speed decentralized processing regardless of the number of participating nodes. Additionally, the platform features Verifiable Pruning, which validates data integrity even without the existence of local data, reducing the node storage burden and contributing to high usability. Locus Chain also uses PoS-BFT, a consensus mechanism that secures transaction confirmation, network security, and decentralized consensus by implementing BFT deterministic consensus between committees randomly selected for each round. Furthermore, the platform uses Dynamic Sharding, a technology that reduces network usage and increases transaction processing volume as per the number of shards, while achieving decentralization by settling the imbalance among the shards.
LOCUS is the native governance token of the Locus Chain platform and is based on the ERC-20 token standard with a smart contract issued by the Locus Chain Foundation based in Singapore. The token operates on the Delegated proof-of-stake (DPoS) consensus algorithm, granting voting rights according to each node's amount of coin shares. The Locus Chain Foundation launched Locus Chain on April 28th, 2018, in an event held in Dubai World Trade Center, Dubai, UAE. The team behind Locus Chain is led by Young Hyun Joo, Gilho Lee, and Soon Mok Jang. The total supply of LOCUS tokens is 7,000,000,000.
In addition to its core features, Locus Chain also offers a number of other benefits for its users. For example, the platform offers low transaction fees, which makes it accessible for a wide range of users and businesses. It also offers enhanced security, with a robust consensus mechanism and advanced encryption technology to protect user data and transactions.
Another major benefit of Locus Chain is its flexibility. The platform is designed to be compatible with a wide range of other blockchain platforms, enabling seamless interoperability between different networks. This allows developers to build decentralized applications (DApps) and other projects that can take advantage of the features and benefits of multiple blockchains.
The Locus Chain ecosystem also includes a number of other services and tools that are designed to help users and developers to get the most out of the platform. For example, the platform includes a number of resources such as developer guides and tutorials, which can help users to learn how to build and deploy their own DApps and other projects on the Locus Chain network. Additionally, the platform includes a number of tools and services that can help users to manage their assets and transactions on the network, such as wallets, exchanges, and other management tools.
Overall, Locus Chain is a powerful and versatile blockchain platform that offers a wide range of benefits for its users. With its advanced features and technologies, the platform is well-suited for a wide range of decentralized applications and projects. Whether you're a developer looking to build a new DApp, or a user looking for a secure and efficient way to manage your digital assets, Locus Chain has something to offer.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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