What is Locus Chain (LOCUS)?
LOCUS is the native token of Locus Chain, which is a next-gen decentralized Layer 1 public chain. It claims to solve the Blockchain Trilemma by achieving both – scalability and full decentralization. LOCUS can be used by various projects, including DeFi protocols, CBDC (Central Bank Digital Currency) projects, Metaverse-based projects, Smart Cities, and so on.
For the high capacity, distributed transaction processing of the Locus Chain, the Account-Wise-Transaction-Chain, or AWTC, serves as the primary data structure. It's based on a Directed-Acyclic-Graph (DAG), which is made up of various transaction chains. Besides, the Locus chain uses a BFT definitive consensus mechanism, as well as a stochastic Proof-of-Stake (PoS) protocol.
Another important technical feature of the Locus Chain crypto project is Verifiable Pruning. Locus Chain's Verifiable Pruning employs a Skewed Merkle Tree structure, in contrast to conventional pruning, which merely deletes outdated data from ledgers to handle expanding ledger sizes. Thus, even though the majority of the previous data is removed in the local environment, Verifiable Pruning is still able to verify the accuracy of the data.
Besides that, Locus employs Dynamic Sharding. When there is X number of shards, dynamic sharding reduces the amount of network consumption that a node must handle to 2/X. This results in an increase in the total network TPS for network consumption on the same node.
Care to see the current LOCUS price? Check out the live Locus Chain price chart above.
Use Cases of LOCUS Tokens
All Locus Chain operations and services require LOCUS tokens to happen. Thus, users need to acquire LOCUS to participate in the platform economy, making the LOCUS price a notable factor.
To be more precise, LOCUS tokens are used as the main means of payment on the platform. This also includes covering network fees.
Moreover, Locus Chain coins are used to reward network users, validators, and developers.
Lastly, LOCUS tokens provide users with governance rights, meaning that they can decide on the future of the Locus Chain crypto project.
Don't forget to take a look at the Locus Chain price chart above. It features the current and the previous LOCUS price.
Who Founded Locus Chain?
The Locus Chain crypto was founded by the development experts of the Blueside Engine, which was the first commercial game engine to be developed in Korea. The founding development team has over 20 years of experience with 18 software development patents and 2 other patents in the field of software.
Tokenomics of LOCUS
The max supply of LOCUS tokens is 7 billion. Since the asset has a fixed supply, it might mean that in the future it will become more scarce. This might result in positive outcome for the LOCUS price.
Initially, the LOCUS token is based on the ERC-20 token standard. However, the platform will employ a hashed time-locked contract to establish a 1:1 ratio when transferring Ethereum-based LOCUS to the Locus Chain mainnet.