A Token Platform For Linda
Information coming from the Linda team tells us about their intention to create a token platform. The leaders of the cryptocurrency have decided that the way forward for Linda is to come out with a platform that would support other tokens like the Ethereum platform does. In this article, we go into the details of this announcement and why the Linda team believe their Linda X token platform would be better than the already existing ones.
About Linda Token
The announcement does not seem to be having much of an effect on the price of Lindacoin. The price has stayed relatively stable since the announcement was made earlier today.
The cryptocurrency has a circulating supply of about 9 billion Linda and a market cap of $14.2 million. The price stood at $0.00158 at the time of writing. This is a fall from the January 2018 heights of about $0.012. However, if you bought at 0.00032 in July 2017 then you probably have no worries.
Lindacoin trades on 7 exchanges including Cryptopia, which contributes over 90% of its trading volume.
What Would Be Unique About Linda X
One thing the Linda token platform, Linda X, would be doing differently is that the tokens to be supported by the platform would be vetted. This step is aimed at preventing fraudulent projects from being launched on the platform in the first place. This seems like a compromise on decentralization in order to have more legitimate projects and avoid loss of investors’ funds.
Linda would also be very involved with the tokens that would be hosted on its platform. Projects to be supported by the platform would receive assistance in various ways to increase chances of successful delivery of solutions.
The assistance to be provided by Linda X would include development support. This means even teams that do not have the technical know-how to create ERC 20 tokens would be able to do so on Linda X.
Additionally, teams that choose to build their token projects on Linda X would be able to use all features of the Linda app. The team behind Linda expect these incentives to attract more projects to the Linda X platform. It should be interesting to see what a scam-free token platform with assistance for projects would look like.
Aside from the token platform, the Linda team also has a lending platform in the works. The purpose of this platform, according to the announcement, is to allow holders of Linda tokens to lend them on the platform.
Details on how the lending would be done and what lenders would get in return are, however, yet to be made public.
Preparing For The Launch
In anticipation of the upcoming changes, the Linda whitepaper is being updated to cover all the new developments. Information on the upcoming token platform and lending platform would be included.
There are also behind the scenes discussions with potential partners taking place at the moment. This is to attract more projects when the platform finally goes live. The date for the launch of the new additions to Linda is expected to be set and made public once all the above are taken care off.
We hope you enjoyed reading this article, and please take some time to check out our monthly magazine with 100% original content!