thecoinrepublic.com
- The Global exchange for startup tokens, LA token has now entered among others to have its own Blockchain, which went live very recently.
- The launch of LACHAIN with DeFi multichain hub is a Layer 1 network using the PoS model with HoneyBadger consensus algorithm.
- It is WASM compatible, which has emerged as an alternative to the current EVM, and there have been demands to use this new technology.
LATOKEN, one of the leading crypto exchanges globally, has recently announced the launch of its Blockchain. The exchange aims to provide users access to Decentralised Finance (DeFi) products and a bridge between other networks. The LACHAIN network is an Ethereum Virtual Machine (EVM) and WebAssembly (WASM) compatible Layer 1 blockchain that rolled out on March 10. It would facilitate the LA token to meet the anticipated future demands for token bridges between networks.
The LACHAIN network uses the Proof-of-Stake model and HoneyBadger Byzantine Fault Tolerance consensus. Most modern blockchain networks prefer the PoS due to its enhanced efficiency than the PoW model. At the same time, the HoneyBadger consensus algorithm enables nodes in a distributed potentially asynchronous environment to achieve agreement on transactions. The process does not need a superior node, tolerates corrupted nodes, and deals with and progresses in adverse network conditions.
EVM compatibility enables the tokens on the PoS LACHAIN to transfer seamlessly between other networks based on Ethereum, such as Polygon, BNB Chain, etc. Whereas WASM is a competition to EVM for smart contract platforms, its host independence, security sandbox, and simplicity make it an efficient and ideal runtime for smart contracts.
LACHAIN currently has around $23 million Total Value Locked (TVL) from six tokens which include LA and Wrapped versions of LA, MATIC, BNB, Tether (USDT), and Ether (ETH).
What would LACHAIN offer?
This Network would primarily be facilitating DeFi services as, according to its website, it is claimed as a Cross-chain DeFi hub. Currently, a DApp on the Network is LADEX, LA token’s own Decentralised Exchange.
The connected blockchain networks fee and gas would be paid via LA token. It does not take liquidity from other networks. All the liquidity locked on the bridge would be utilized on the same network DeFi protocols facilitating smooth partnerships.
It is a complete DeFi toolset, which offers an all-inclusive ready-to-use product with its own wallet, DeFi marketplace, and bridges between other networks.
LA token was launched in the year 2017 in the Cayman Islands. According to CoinGecko data, LA tokens have had $257,985,091 trading volume over the last 24 hours. This exchange focuses on connecting investors and entrepreneurs on a global level. LATOKEN IEO Launchpad is a considerable option for entrepreneurs looking for funding. Additionally, traders on LATOKEN can access over 350 digital assets.
LA Token has become a network among others to have its own Blockchain. Other Centralised Exchanges to have their blockchains are Cronos, KuCoin with KCC, etc.
While using highly upgraded and enhanced technologies, it is to look forward to how this latest centralized exchange blockchain by LA token would prove to be and whether it proves accurate to be a DeFi hub.