Conclusion
The Lithosphere project has created a BFT algorithm, a new token standard, Litho currency (LITHO), and a key distribution mechanism to achieve the goal of the inclusive decentralized platform. The design of the native token is mostly comprised of the following five elements:
1. Number. A total of one billion tokens are available. This amount will allow the token to launch at an acceptable price and continue to grow steadily from there.
2. A system for distributing tokens. To achieve the idea of non-inflation, the supply of tokens should be limited. This benefits the early members and makes the system more stable in the long run.
3. The allocation of tokens. To realize the decentralized notion, the token distribution must be properly balanced. We award a 10% ratio to the Lithosphere team because of their continuous devotion and efforts to promote Lithosphere’s inclusivity in cross-chain, cross-organization, and cross-data source initiatives. Furthermore, because Lithosphere’s accounting nodes perform more complex functions than ordinary public chains, they will get around one-third of the entire sum. The remainder will be utilized for environmentally friendly buildings.
4. Environmentally-friendly construction. More than half of the funds will go to the Foundation to help the project flourish, particularly in terms of cross-chain, cross-organization, and cross-data features. To allow additional value to be conveyed on the chain and to aid the development of new smart contract applications, the project will also require a token exchange mechanism.
5. Fuels and miners In a distributed node control system, a range of values will enter the Lithosphere. To control tokens, the chain requires a large number of dispersed nodes. The more nodes there are, the more secure the chain will be, and the more nodes are required as the chain’s value grows. The chain must compensate miners by releasing tokens and charging service fees to sustain the number of nodes and calculation power.
Lithosphere was born out of necessity. Our development teams have always been spread throughout the world from the beginning of KaJ Labs, yet we’ve always had problems working effectively. We have to enhance our entire performance and processes for our teams to stay distributed.
We recognized there were several inefficiencies with the existing commonly utilized blockchains like Ethereum, Cardano, and others after working on numerous blockchain projects. The most serious issue was that these blockchain networks were unable to connect. You couldn’t buy ERC721 NFT using a BEP20 token, BTC, DOT, or BNB until Lithosphere. Blockchain networks must be in sync with one another for blockchain and DeFi to grow into the future we all want. Transaction expenses/gas fees are another challenges that networks like Ethereum confront. On the Ethereum network, almost every activity costs money.
The KaJ Labs team set out to create a worldwide blockchain network that is quicker, cheaper, and more environmentally friendly than existing blockchains such as Cardano, Polkadot, and Ethereum 2.0. Lithosphere may be thought of as the foundation for both old and new blockchains. The Lithosphere ecosystem is powered by the native currency $LITHO /Litho.
Last modified 1yr ago