KuCoin as a recognized blockchain asset exchange service has proudly announced today that they have listed a business protocol project called OneLedger. Its native currency OLT is now immediately available for deposit with trading pairs including OLT/BTC and OLT/ETH.
Buying for the OLT token starts at 21:30 (UTC+8) and Selling/Withdrawal will begin at 22:00 (UTC+8). Trading transactions can be processed utilizing KuCoin’s App or on KuCoin’s official website.
Introduction to OneLedger [OLT]
OneLedger is a cross-ledger agnostic protocol that allows high-performance scaling, utilizing a sharded and modified practical Byzantine Fault Tolerant consensus scheme which grants for either a permissionless or permission setting. By linking public key infrastructure (PKI) with identity management, nodes (and node operators) will have a specified trust hierarchy that enables them to participate in the consensus of the OneLedger chain or any sidechain.
OneLedger sidechains can be synchronized with the present state of other networks like Ethereum and Bitcoin. Any cryptocurrency that maintains hashed time lock contracts (HTLC) and payment channels could be deposited into an account or address with the value credited onto the OneLedger sidechain. It allows for a scalable and transparent solution that is off the main network or chain and is now off-loaded to the OneLedger sidechain.
OLT token economics
One billion OLT tokens will be pre-mined. Every OLT token will initially be drafted to one corresponding ERC20 token so early adopters of OLT can utilize them on Ethereum ecosystem as the OneLedger ecosystem is being improved. As the OneLedger ecosystem develops, there are three major participants in the OneLedger token economics: users, network supporters (nodes), and developers. OneLedger will also create a marketplace, which is a decentralized application on the OneLedger platform.
Users, also include businesses, require to pay a network charge to nodes to use any services on the OneLedger platform. They can either obtain OLT tokens from other token holders, or they can operate a node themselves to start acquiring tokens to reuse for business use cases.
Network supporters (Nodes)
Network supporters (nodes) will get OLT tokens as network fees. In the early phase, OneLedger’s software will enable everyone to run a node.
Developers will vary from individual contributors to enterprise teams, to consulting firms. Developers need OLT tokens to deploy their modules to OneLedger platform. They can submit modules and code to OneLedger Marketplace with a smart contract that outlines the terms of sale.
OneLedger has already proven its value to businesses and will continue endeavoring to retain its advantages over the industry. With their stablecoin OLT listed at KuCoin, they can be assured of safe and reliable trading processes. Aside from that, KuCoin always ensures their partners’ satisfaction. Therefore, OneLedger will have a continuous and progressive journey in all their transactions utilizing the KuCoin platform.