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Blockchain

New Blockchain Platform LindaX Claims to be ‘Faster’ and ‘Cheaper’ than Ethereum’s ERC20

The new blockchain LindaX platform is a unique network that strives to provide solutions for developers and corporations in a similar way. It seeks to help developers with the assistance they require for developing, marketing and launching customs tokens successfully while supporting Linda’s blockchain. Simultaneously, it will assist organizations looking to create their own tokenized digital assets and thereby, contribute to the blockchain through their active participation.

According to the whitepaper, the LindaX platform will allow vetted enterprises, partners, LLCs and corporations to create a tradeable digital token that can be used as a currency, a representation of an asset, a virtual share, internal assets, a proof of membership, etc., depending upon the requirements of the company. This will make LindaX a ‘more attractive and a more accessible’ alternative for companies to host their tokens.

LindaX is fundamentally a fork of the go and cpp Ethereum client. Therefore, it is much like its predecessor Ethereum, while adopting a variety of protocols. However, it has undergone various changes and now comes with many advantages over Ethereum’s ERC20 platform.

The LindaX blockchain will be operating on the superior Proof of Authority algorithm. Unlike other token platforms (ERC20/Ethereum), LindaX will check all token proposals to ensure all prerequisites for the token have been fulfilled before the network vote is held. This ensures the credibility and trustworthiness of all issued tokens.

The LindaX network claims to be faster and more cost-effective as compared to the ERC20 platform.

The LindaX blockchain started as being a fork from the Ethereum blockchain. The transaction block time of Ethereum’ platform allows six peer-to-peer transactions per second. LindaX has brought down its block time to five seconds, which means that the LindaX blockchain will be able to conduct 179 transactions per second. LindaX also has the ability to scale to faster block times if required during future transactions. This implies that LindaX will be able to handle thousands of transactions, thereby, making it the most viable option for companies with their own tokens.

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Moreover, LindaX claims that the overall computational work required to execute contracts on LindaX is significantly cheaper with reduced gas prices for smart contract deployment and transaction fees in (Gas). In a blog post, the company claimed that merchants on its platform could see transaction costs decrease by 50 percent when compared with ERC20.

In addition to LindaX mainnet “Orbital,” comes the LindaX TestNet “Trajectory.” Trajectory allows authorized developers to test their contracts and Dapps with zero network costs on the network. This can be considered an excellent opportunity for startups.

The LindaX website outlines some of the interesting milestones that the company is looking to achieve like the launch of mobile wallets for Apple’s App Store and Google Play, Metamask integration, first LRC20 token deployment, LindaX ICO Hard Cap, LindaX ICO Soft Cap, and more.

Overall, LindaX plays host to a gamut of opportunities for enterprises while preserving all the distinctive features of Blockchain technology, like transparency, decentralization, and security.

Ankita Baruah

Ankita has recently joined the CryptoNewsZ team. She has a Masters Degree in English Language and Literature and 10+ years of experience in dealing with different types of content for print as well as digital media. Writing is her passion. Precision and originality is what she believes in and makes sure she abides by them in her write ups. When Ankita is off work, you will find her engrossed in books or enhancing her culinary skills!! You can also mail her at [email protected] to discuss anything related to her reports.

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