LBank AMA Recap with $L1X
On June 6 , we held an AMA with the $L1X team, hosted on LBank official telegram channel. If you guys had missed this session, here’s another chance to get a full transcript of the AMA event.
INTRODUCTION : Yes. I have been in crypto and blockchain since 2017 in various different roles and have seen the space evolve a lot in this period. One thing that is need for mass adoption of blockchain and Crypto is true cross-chain interoperability between chains. This is where Layer One X comes in. Layer One X (L1X) has been in development for thee years and is not only a powerful Layer One blockchain but also the most effective interoperability solution in the market.
Question 1) What are LayerOneX strongest advantages that you think will make your team a market leader?
Guest Answer : As a layer one blockchain we have highly innovative technology, and we focus on cutting-edge solutions for scalability, security, and interoperability. Our Layer one is extremely fast allowing for 1.5 sec transaction finality and native gas fees of no more than 1 cent.
But most impressive is our cross-chain technology built directly into the layer one called Xtalk.
Xtalk is ground breaking tech and allows communication between different blockchains of any type which is a first in the blockchain space.
Question 2 :What unique features differentiate LayerOneX from other cross-chain interoperability solutions?
Guest Answer: Matiu:
Unlike other solutions like Layer Zero, Chainlink and Axelar, Layer One X offers connectivity between all blockchains, EVM and Non-EVM.
Where users and applications can transfer tokens, NFTs and messages between any type of chain.
Our system is also faster, cheaper and bridgeless, which gives us a massive edge over any competitor.
Those competitor’s market cap valuations are in the billions of $$, and we have superior tech and have only just launched.
Question 3- How do your $L1X tokens increase value, liquidity and utility? So that can cause an increase in the price of the token? What is your plan to make your project stable and provide the highest return for investors in the long term?
Guest Answer : The unique feature of L1X Coin is that it can exist not only on Layer One X, but also on any blockchain that Layer One X is connected to, giving it mass exposure and mass utility beyond any other blockchain coin that exists today. The chains we are currently connected to are Ethereum, Solana, BNB, Arbitrum, Avax, Polygon, Optimism and Fantom, with Bitcoin Network next. But we will be adding more and more chains as we progress, and the great news is we have the ability to add any chains out there.
Imagine being able to use L1X coin on a large number of applications across multiple different blockchains, kind of similar to ETH coin today but 10X that.
This is what we are building towards with the utility for the L1X Coin itself.
Question Q4- What are the advantages to projects and developers building on Layer One X and where do they start?
Guest Answer : For new projects building on Layer One X or existing projects already on other chains that want to integrate into the XTalk interoperability, the benefits are enormous. They can become truly omnichain projects, where they can have access to all users and liquidity across multiple chains and only have to build on one.
I highly recommend any builder to visit our L1X Dev Portal on this link and we are also running an L1X grants program now too.
https://dev-portal.l1xapp.com/
Q5- What is LayerOneX vision, what does the project hope to achieve in the longterm?How will your project’s main vision and mission make a difference in the crypto world?
Guest Answer : We have a sizeable vision that will impact all blockchain users, applications and investors. Layer One X’s vision and long-term goals is to connect all chains into one single connected ecosystem of blockchains, where users can move between chains and applications seamlessly without even needing to worry about the tech underneath.
Think of the internet today which gives you an experience of one big ecosystem the users can access easily and cost effectively, that is the future we are building at Layer One , but it will be a united decentralised web3 .
We are not here to complete we are here to unite, and that is exactly what we are doing.
Question Q6- Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community?
Guest Answer : We welcome any of your community members in to ours with open arms
Join our Community on:
Twitter — https://x.com/LayerOneX
Discord — https://discord.com/invite/LayerOneX
and also check out our Website as well — https://l1x.foundation/
Community Questions :
Question: Hello sir,, @Matiu33
My important question :
Today, many new areas of use of Artificial Intelligence have emerged. Does LayerOneX plan to use AI for its platform?
Telegram Username: @ms_molly1
Guest Answer : Hi @ms_molly1 , thanks for your questions. We already use a form of AI in our Consensus Mechanism called HTM, which allows our system to detect bad acting Nodes before they do damage. Future AI integration in to other parts of the system will come from our Core team and the developers building upon us.
Question 2 : HELLO SIR,,,,
Do you have AUDIT certificate because AUDIT is for important any project and secondly Do you have a whitepaper? if yes please share it with us your whitepaper.
Telegram Username : @NEY_MAR_10jr
Guest Answer : Hi @NEY_MAR_10jr thanks for your question. We have completed the Audit on the proprietary tech within our unique virtual machine. Our auditing partner is HASHLOCK an extremely good blockchain auditor, and we will be releasing the report in the next few days.
Also here is the link to the whitepaper — https://docsend.com/view/yxxumg97x5mzv77v
Question 3 : How does L1X’s standardized interoperability layer enable traditional banks to offer a wider range of digital services to users?
@Matiu33
Telegram Username: @AdeRachmansyah
Guest Answer : Great question @AdeRachmansyah, our platform allows institutions and enterprises to build their own private subnet and connect it to Layer One X, this allows for them to have a secure, controlled blockchain environment but also connect through to Layer One X and every other chain we are connected to. The implications this can have on Real World Asset tokenisation is huge.
Question 4 : Can you compare LayerOneX’s features with the most popular blockchains in the blockchain space? Please share the key performance metrics of the LayerOneX chain, such as Number of blocks per second, transaction completion time, transaction speed, cost per transaction?
@Matiu33
Telegram Username: @ahcegiiL
Guest Answer: Our performance metrics are:
500ms block creation time
1.5 second transaction completion time
and currently $0.0001 gas cost with an upper gas cost limit of no more than 1 cent.
Plus we can connect to any chain giving applications access to mass adoption of their DApp with access to the majority or users and capital across all blockchains.
Click here to download for iOS or Android
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