2022-9-7 00:56 |
Web3 has the potential to bring extensive innovation to every industry in the world. However, the adoption of web3 is still mostly limited and has not matured enough. The adoption of web3 into the world of cryptocurrency has changed how people look at and understand the industry. That’s why the new crypto Lynqyo protocol (LNQ) has built a platform for the tokenization and decentralization governance of non-physical content, which they believe can be one of the biggest breakthroughs of this century.
The protocol has gone through thoughtful consideration and multiple implementations, testnets, and pilots, before launching based on the Polygon Network to continue to expand into Polkadot, Ethereum, and other networks using a substrate-based chain.
Lynqyo Protocol (LNQ) – The New CryptoA new cryptocurrency called Lynqyo Protocol (LNQ) aims to offer a set of web3 protocols, tools, and applications that will enable creators and developers to control, scale, and monetize their communities and content. A decentralised protocol called Lynqyo Protocol (LNQ) aims to make it possible to find, assess, licence, and exchange non-physical content. It is created especially for tokenising intangible content, including automated royalties, fan gifting, and liquidity features like subscription payments and guaranteed lending.
Lynqyo (LNQ) intends to be an application-specific ecosystem that will implement several protocols for the creators. The core protocol is the Content economy protocol; the network will also implement the collective ownership protocol and others. Proceeding from the multi-utility of NFTs, the Lynqyo protocol (LNQ) will deploy a sub-use-case of NFTs, namely; Non-fungible Content (NFCs), which will come to existence once an NFT is fractionalized. It will be a unique piece of intangible content that will broaden the capacity of NFTs. The Lynqyo Content Economy Protocol further extends NFTs by fractionalizing them into sub-NFTs, making it possible to own and govern content collectively.
Every piece of non-physical or intangible content can be tokenized using the Lynqyo protocol (LNQ), making it possible to own a portion of these assets or contents. The protocol’s primary goal is to increase the liquidity of the content within the creator sub-group by utilising a variety of decentralised financial and governance instruments.
Lynqyo protocol will be supported by its token LNQ, a token on the Polygon network. The token is a multi-chain native cryptocurrency in the Lynqyo network that serves as the main currency used as a means of payment in any transaction on the platform, including subscription fees, smart contracts, etc. The token serves as a governance token, giving every staker of the token voting rights on the platform. The LNQ token is also used to reward users by specific engagement metrics to sustain and re-distribute underlying tokenized content.
Ethereum (ETH) – The Blockchain NetworkTo replace Bitcoin, the Ethereum (ETH) blockchain was developed in 2015. (BTC). It is a blockchain network that supports smart contracts. The second-largest cryptocurrency in the world is Ethereum (ETH), which has developed and grown. The proof-of-work (PoW) consensus mechanism that Ethereum (ETH) is currently developing has been criticised for its high power consumption and excessively high gas fees. Furthermore, the low number of transactions per second is not surprising, given the large number of cryptocurrencies on the blockchain.
The blockchain’s transition to a proof-of-stake (PoS) consensus mechanism, which is anticipated to reduce the blockchain’s power consumption by about 99%, is being processed by the Ethereum (ETH) developers. The network may be projected in this update to propel its scalability, resolving problems that have negatively impacted the project’s overall reputation. This will significantly alter and enhance the functionality as it is now. When this update is complete, Ethereum (ETH) will quickly become one of the most profitable investments in the cryptocurrency space, if not the best.
Litecoin (LTC) – Peer-to-Peer CryptoIn 2011, the Bitcoin (BTC) network served as the foundation for the Litecoin (LTC) project. Without centralised institutions, the peer-to-peer cryptocurrency, known as Litecoin, facilitates the transfer of financial assets. Despite being modelled after Bitcoin (BTC), it has been said to be the better choice regarding transaction costs and block times. The block time of the cryptocurrency is 2 minutes and 5 seconds, and its typical transaction fee is $0.04.
Litecoin (LTC), which has been around for more than ten years and currently ranks 21st on CoinMarketCap with a market cap of over $4 billion, has remained one of the top 20 cryptocurrencies. For this reason, experts have regarded LTC as having excellent investment potential.
Visit Website: https://lynqyo.com/
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