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The post Layer One X Blockchain Creates History – Achieves Interoperability Across Networks appeared first on Coinpedia Fintech News The speedy adoption of blockchain-based internet applications established the need for […]
The post Layer One X Blockchain Creates History – Achieves Interoperability Across Networks appeared first on Coinpedia Fintech News
The speedy adoption of blockchain-based internet applications established the need for interoperability between EVM-compatible and non-EVM chains. It was the breakthrough that was long needed to evolve in the Web3 landscape and provide a wider spectrum of services. Though interoperability was present within individual networks like Ethereum, Polkadot, and Solana, this is the first time a company has achieved interoperability across different blockchain networks.
The first interoperable transaction from BSC to Solana network using Layer One X platform on 3 March 2023 is a historical date that will inspire the industry to thrive for more watershed moments.
Kevin Continho, the founder of Layer One X, expressed great joy on achieving decentralized cross-chain asset transfer and stated, “We are excited for the opportunity this presents to allow projects & developers to build asynchronous features on blockchains through a decentralized source of truth”.
Layer One X will launch on Mainnet in August 2023 on a big scale, the platform is currently finalizing its private round sales that end on March 31.
Connected and Innovative applications – Cross-chain transfers will encourage developers to create more connected and innovative applications and opens up the scope for infusing more features.
Enabling pure decentralization – L1X has fully defused the role of central authority by enabling pure decentralization and can eliminate the need for bridges for cross-chain asset transfers.
Cross-industry interaction and collaboration – Cross-industry interaction and collaboration will help discard unnecessary hindrances and provide a seamless experience.
Eliminating the role of bridges in cross-chain asset transfers – The interoperability achievement sidelines the role of bridges previously required to execute multi-blockchain transactions.
Increased data security – L1X has left no scope for data breaches by restricting third-party intervention.
To increase the efficiency of its interoperability blockchain, Layer One X aims to put the world’s 8.6 billion smart devices to work for micro-validation. L1X is using a hybrid consensus mechanism and accessing smart devices to generate mass adoption of its blockchain. The use of Mobile Nodes will help overcome the fundamental problem of reaching optimum Tera Hashes per second and increase engagement in blockchain asset transactions with minimal knowledge.
L1X token distribution will take place in four categories: core team, private investors and advisors, public sale, and treasury. The L1X token is yet to be listed on exchanges and is currently in a private sale round. To minimize the odds of peaks and crashes, L1X will pre-launch 50 million tokens and will increase the total circulation gradually over a period of 30 years
L1X is looking forward to celebrating its success with three lucky winners who stand a chance to win 1000 L1X tokens and a commemorative NFT by completing simple tasks.
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Layer One X has confirmed that it will be minting a limited number of NFTs to commemorate its remarkable achievement. The NFTs will be available through the “Historical X” NFT collection. The initial L1X NFT is available to buy on the platform, followed by many unique NFTs yet to be minted. All the NFTs will represent a milestone that L1X has achieved, adding enormously to their value. Through their NFTs, Layer One X wants to represent the landmarks they will accomplish in the blockchain industry while transforming it for the better.
To know more details, visit: https://bit.ly/3JqHNYg
