Locus Chain Tokens officially started trading on September 25th
SINGAPORE, Sept. 25, 2018 /PRNewswire/ -- Locus Chain tokens, issued by the next-generation blockchain platform Locus Chain Foundation (Locus Chain), was listed today on Bibox, the global cryptocurrency exchange ranked in the top 10 of the world's exchange markets.
According to Bibox's official website, on September 24th Locus Chain announced that it will be able to create token wallets and transactions from 11:00 a.m. on the 25th. The tokens opened at USD 1.64, with total market capitalization at USD 10.75 billion, making it the fourth largest in the cryptocurrency market.
Bibox is an independent exchange established by co-founder Jeffrey Lei, who also founded OKcoin, the world's largest cryptographic exchange. Bibox has grown steadily to join the ranks of the top 10 global exchanges over the last eight months, after opening in November 2017. As the first artificial intelligence platform for digital asset exchange, Bibox has earned the high confidence of users.
On August 24th, Locus Chain ranked first in the Bibox voting test, with a large lead on second place. Locus Chain is a very fast and flexible next-generation blockchain platform that can be used in a large-scale real economy, unlike older blockchains which become less efficient as the number of actual users increases. To overcome the shortcomings of existing blockchain technology, Locus Chain developed independent Dynamic State Sharding technology and an Account-Wise Transaction Chain (AWTC) structure that can be quickly approved for transactions without a decrease in speed, even if the number of transactions increases.
Locus Chain Foundation is doing its best to contribute to building equality in the world. Locus Chain focuses on projects that can lead to technology sharing and local development. The public sector, such as e-government and philanthropy, is a priority area for Locus Chain to contribute to the public interest. Locus Chain is headquartered in Singapore and has branch offices in Dubai in the Middle East and Mauritius in Africa.
Princess Sheikha Mozah Al Maktoum of Dubai, Sheikh Abu Omar of the Azman Royal family, the Prince Franklin E. Omene of OMENE Holdings LLC, Nigeria's flagship business in Africa, and many other political or financial VIPs are participating as advisors.
In addition, Locus Chain is developing medical IoT blockchain projects with Leadtek, as well as a SM-Fi communication business with SM Wave. Furthermore, Locus Chain has been working with key government agencies and major corporations in Europe, the Middle East and Asia, including Saudi Arabia, UAE, Oman, Bahrain, India, Germany, Russia, Thailand, Malaysia, Sri Lanka and Bangladesh. Locus Chain is expected to be used as a base system and settlement currency for the sub-industries of various countries, with actual usage setting new benchmarks that cannot be compared to any existing cryptocurrencies.
Locus Chain has also signed donations with five charitable organizations in Africa, India and Afghanistan, and plans to increase philanthropic engagement and agreements around the world to contribute significantly to public interest.
Bibox will hold a commemorative event for the Locus Chain token listing from September 25th – 30th. During this period, Locus Chain tokens will be calculated based on the number of deposits, withdrawals, purchases, and sales of Locus Chain tokens; also, a certain number of Locus tokens will be distributed to the top 10 buyers in proportion to the ranking based on the net assets of the tokens at the end of the event. In addition, users who continue to hold more than 300 Locus Chain tokens over the course of the event will receive an additional two Locus Chain tokens.
About Locus Chain Foundation
Locus Chain Foundation Pte, Ltd. was set up in Singapore in 2018, to develop a Blockchain-based platform and related business. Built by a team of Korean developers, international partners and advisors, the Locus Chain Foundation will offer affordable access to a reliable, secure platform that ensures accountability. With offices in Singapore, Seoul and Dubai, the company has a global footprint and partnerships to realize its plan to become the blockchain solution for international businesses and global citizens.