Locus Chain Foundation (Locus Chain), a next-generation blockchain platform based out of Singapore, released its native altcoin yesterday. Called the Locus Chain Token (LOCUS), the altcoin officially began trading on the global cryptocurrency exchange Bibox.
The Rise Of Locus Chain & Bibox
According to the Bibox official website on September 24th, Locus Chain announced that it will be able to create token wallets and engage in transactions from 11:00 a.m. on the following day.
The Locus Chain tokens debuted on the exchange at the price of $1.64 and had a total market capitalization of $10.75 Billion, making the altcoin the fourth largest in the cryptocurrency market.
Bibox is ranked in the top 10 of the world’s exchange markets, having grown steadily over the past eight months since its November 2017 launch. It is an independent exchange founded by Co-Founder Jeffrey Lei, who is also the founder of OKcoin, a leading global Bitcoin exchange.
Bibox is also the first artificial intelligence platform for cryptocurrency exchanges, earning itself a high confidence among its users.
On August 24th, Locus Chain ranked number one in the Bibox voting test, with a large lead on the second place. Locus Chain is a flexible next-generation blockchain platform that allows for integration in a large-scale real economy. On the contrary, older blockchains become slower and less efficient with user increases.
As a means of overcoming the shortcomings of existing blockchain technology, Locus Chain produced its independent Dynamic State Sharding technology and an Account-Wise Transaction Chain (AWTC) structure, which can be rapidly approved for transactions. The speed will not be decreased, even in circumstances of higher transactions.
The Locus Chain Event & The Foundation’s Workings
Bibox will host an event to commemorate the newly listed Locus Chain altcoin from September 25th – 30th. During this time, Locus Chain tokens will be calculated based on the number of their deposits, withdrawals, sales and purchases.
Locus Chain altcoins will be distributed to the top 10 buyers in relation to the ranking of the net assets of the altcoins at the end of the event. Users who continue to retain over 300 Locus Chain tokens over the course of the event will receive 2 Locus Chain tokens.
Locus Chain Foundation seeks to contribute to the creation of equality in the world. Its projects focus on technology sharing and local development. As such, the public sector, including e-government and philanthropy, is a priority area for Locus Chain.
Headquartered in Singapore, Locus Chain has branch offices in Dubai and the African nation of Mauritius. The blockchain company has several distinguished advisors, including Princess Sheikha Mozah Al Maktoum of Dubai, Sheikh Abu Omar of the the Azman Royal family, Prince Franklin E. Omene of OMENE Holdings LLC, of Nigeria’s flagship business in Africa, and other notable people in politics or finance.
Locus Chain is developing medical IoT blockchain projects with Leadtek. Additionally, the blockchain company has been working with government agencies and major corporations in Europe, the Middle East and Asia. Locus Chain anticipates to be used as a base system and settlement currency for industries across several countries. It aims to set new and incomparable benchmarks in the cryptocurrency space.
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