The platform also offers a variety of features, including a marketplace, an exchange, and a wallet. Legolas Exchange is unique in that it allows users to trade cryptocurrencies and tokens without having to worry about security or privacy issues. Cryptocurrency exchanges are quite exclusive when it comes to investment capital. Since these crypto exchanges are largely not regulated it prevents traditional financial institutions getting involved in cryptocurrencies.
What Blockchain Does Legolas Use?
The decentralization of orders and transaction data allows for transparent price formation, transaction audit, and zero front-running. Additionally, the centralization of order pooling and order matching leads to efficiency and scalability, bypassing current blockchain limitations. This is good news for ICO participants, but also for buyers of the token as it can reduce the available supply circulating which could push up the price. 5% of the legolas exchange initial issuance will be issued each 6 months over the first 2 years (20% in total). The tokens will be rewarded to people who still hold their tokens in the original address. To increase speed and performance the exchange will use its own Order Pool System.
For example, Dash is focused on privacy and security which makes it a good choice for those looking for an alternative to LGO that focuses on these same factors. Legolas Exchange cryptocurrencie coin is a digital asset that allows users to trade cryptocurrencies. The team behind Legolas exchange believe that a completely decentralized exchange is unrealistic and instead opt for a mixed approach. As such, the LGO exchange is one that offers a unique hybrid between centralization and decentralization. Legolas has established a technical partnership with CertEurope, one of the leading Certification Authorities in Europe. We are thus already able to have a portion of our algorithm accredited by the ANSI (the French National Agency for the Security of Information Systems).
Why invest in Legolas Exchange (LGO)
Instead of sending separate orders to the blockchain the Order Pool will send a single hash of all the orders to the blockchain. This means only one hash code is sent to the blockchain per block. Furthermore it creates the possibility for an unlimited amount of orders per block. This also the Ethereum network to scale beyond its current capabilities.
The LGO partnership allows Expedia to access the marketing and financial resources of the LGO platform. This will allow Expedia to expand its reach and offer more competitive prices to its customers. The token model created by Legolas has been tested by different exchanges, including Binance, the #1 exchange in terms of trade volume. By decreasing the total supply of tokens at each transaction, the value of the coin is directly linked to the trading volume on the exchange. Holders and $LGO believers will have a good chance to benefit from this process as volume will grow on the platform.
The infamous Mt. Gox hack of 2011 is currently making headlines again for reportedly driving the price of Bitcoin down. In the hack the exchange apparently lost 7% of all bitcoins in existence, worth around $473 million at the time. The algorithm of Legolas Exchange (LGO) is a decentralized protocol that allows users to exchange goods and services without the need for a third party. The LGO platform uses a smart contract system to ensure the security and integrity of transactions.
Centralization can be used off-chain to increase transaction speed and cost. Instead of having a private, centralized ledger for all transactions, the Legolas Exchange will use a decentralized ledger to create transparency. Anyone can view the account balance or transaction history of anyone. With cryptocurrency being a rather new and developing field, customers are forced to use the limited amount of exchanges that exist.
LGO Exchange ICO stats:
This is a first, and major, step towards full accreditation and insurance for our platform. It is also a major affirmation of Legolas’s vision for a hybrid system. The immutable nature of the blockchain can be used to lock transactions in the correct order. Each order is given a timestamp and is encrypted and sent to the blockchain. When blocks are confirmed the order sequence is etched into the blockchain.
- Additionally, the centralization of order pooling and order matching leads to efficiency and scalability, bypassing current blockchain limitations.
- The platform also offers a variety of features, including a marketplace, an exchange, and a wallet.
- At any transaction, 25% of the transaction fee paid in $LGO is destroyed, diminishing the $LGO supply with time.
- It has a wide range of applications, can be used to create decentralized applications, and has a strong community behind it.
Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 920 exchanges. In keeping with deflationary models of cryptocurrency Legolas aims to reduce the supply of the LGO token in their holdings. For every trade that happens on the exchange, Legolas will destroy 25% of the transaction fees they receive.
Why are Legolas Exchange (LGO) Valuable?
Unlike other exchanges, Legolas will not charge any fees in cryptocurrencies other than its own LGO token. In order to increase the value of the LGO token, the exchange has an interesting implementation. The LGO investors are a group of individuals who have put money into the LGO exchange in order to gain exposure to the cryptocurrency market.