EtherLite token (ETL) is now listed on Bitcoin.com Exchange – Bitcoin News press release

[ad_1]

Press release

PRESS RELEASE. Bitcoin.com Exchange is delighted to announce the ETL listing, available for trading on July 19, 2021 at 4:00 p.m. UTC. ETL was created by the EtherLite team, as a utility token for their decentralized, borderless network with validators and community members around the world. ETL will start trading with USDT and ETH pairs.

What is EtherLite?

EtherLite uses a Proof of Stake (PoS) consensus model as it seeks to choose where its much larger counterpart, Ethereum, leaves off. In fact, EtherLite is a hard fork of Ethereum, representing a major change in the code of the largest blockchain that took place in May.

EtherLite has gone through its roadmap, which, in addition to the hard fork, included an airdrop and an initial trade offer. Now is the time for the token to reach the trade. The EtherLite team claims that ETL has been audited by the “best grassroots experts” and is set to start trading on the exchanges in July. They are quite ambitious and call it “the year of EtherLite”.

EtherLite vs. Ethereum

EtherLite is a hard fork of Ethereum, which is the go-to blockchain for smart contracts, DeFi, non-fungible tokens (NFT) and more. The uplink is designed to address some of the shortcomings that still plague the Ethereum network. Although there is only one Ethereum, EtherLite has the advantage of hindsight. It has features such as:

Speed: The EtherLite network has block times of five seconds and over 10,000 transactions per second. Low Fees: High fees have been a stumbling block on Ethereum, leading some creators and developers to migrate to other blockchains. Staking: Users can stake their ETL at staking.etherlite.org to help maintain network security in return for rewards. Ethereum is moving from a Proof of Work (PoW) model to a PoS consensus model.

One of the main features of EtherLite is that it is compatible with the Ethereum Virtual Machine (EVM), according to the project’s website. This means that developers can also use their decentralized applications (dApps) and smart contracts built on Ethereum on EtherLite. EtherLite allows developers to “easily port their Ethereum-based dApps in minutes,” according to the project’s website.

What is ETL?

Everything that happens on EtherLite is powered by ETL. It is the native part of the EtherLite network. It is used to support the network and to pay the network charges. By owning ETL, participants can access basic EtherLite functionality:

EtherLite operates on a proof of stake mechanism that requires ETL to support the network. Validator nodes are required to wager a minimum of 100,000 ETLs and in return Validators will receive rewards and fees for their service. If a validator performs malicious activity, their staked ETL tokens are essentially forfeited.

The ETL token is ideal for sending and receiving payments thanks to the high speed, fast finality and low fees of the EtherLite network. On EtherLite, money transfers are done in seconds and it costs a lot less.

ETL is used to pay for network overhead costs, such as transaction fees to access and support network operations.

In addition to network fees, EtherLite ecosystem rewards are distributed using ETL.

Strong approval

Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his take on EtherLite: “I think the team behind EtherLite has built an exceptional blockchain platform designed for efficiency, it provides a fast, secure and cheaper for building decentralized applications, which is very, very necessary in the market right now.

Chaudhry goes on to say; “We are very excited to see how EtherLite, through its ETL token, will continue to strengthen its vision of the next generation blockchain for the current DeFi landscape and gain visibility to our exceptional community during the exchange. “

The Etherlite Foundation said: “The journey of blockchain development has been exponential, all with the start of powerful collaborations. EtherLite and Bitcoin.com Exchange are teaming up to create even bigger blockchain applications. Bitcoin.com Exchange with its massive audience will make a big difference in our vision and put EtherLite on the map within the crypto community. We look forward to the continuation of this partnership.

About Bitcoin.com Exchange

The mission of Bitcoin.com Exchange is to enable people around the world to trade cryptocurrencies with ease and confidence, from novice traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented by a high level of security, it offers an attractive platform for trading any cryptocurrency. Less than a year after its launch, on average, the exchange has been visited by over 500,000 active traders per month, and that number continues to grow as you read this sentence.

About EtherLite

EtherLite is a pure point-of-sale-based blockchain network, surfacing to create a space where all major DApps can be purchased under one roof and processed cost-effectively, expanding the base for developing and using the blockchain in the community. Learn more at https://etherlite.org.

This is a press release. Readers should exercise due diligence before taking any action regarding the promoted business or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in the press release.

Image credits: Shutterstock, Pixabay, Wiki Commons

[ad_2]