As cryptocurrencies increasingly become mainstream, the infrastructure for transacting in cryptocurrencies is being built. While numerous projects have arisen to fulfill this need, LAPO stands out for using the DASH protocol and applying smart contracts to it.
Though cryptocurrencies have risen in popularity and now constitute over $300 million in market capitalization, investors are experiencing difficulties trading the cryptocurrencies of their choice and converting them to fiat currencies. The lack of liquidity and incompatibility between platforms have prevented cryptocurrencies from gaining even greater adoption and being used for daily transactions. To fix these problems, LAPO will establish a platform with numerous financial services, including a cryptocurrency exchange, cryptocurrency wallet for sending and receiving payments, payment processing for merchants, and loans, to name a few. Users of the platform will have access to these services using mobile devices or desktops.
In order for cryptocurrencies to become mainstream, the underlying technology, the blockchain, will need to scale. Due to the speed, security, and low transaction fees of the DASH blockchain, LAPO has decided to base its platform on its protocol and add smart contract capabilities to it. Due to the platform’s use of the DASH protocol, transactions within it will only take two to five seconds. Smart contracts allow users to execute contracts without intermediaries, effectively reducing the costs of transactions. Essentially, LAPO will function as a bank without bankers who charge high commissions that are passed onto consumers.
Essential to the LAPO platform is its native currency, LAPO Coin (LAX). LAX will be used in all transactions on the platform as an intermediary coin that will add liquidity and stability to the platform. Additionally, users will be able to create their own tokens on the platform to use as currency.
LAPO has been conducting an unofficial presale from February 1, 2018 to May 1, 2018, with LAX selling for $0.01. Its official presale, or crowdsale, starts May 1, 2018 and will last to June 1, 2018. During the official presale, LAX will sell for $0.025. According to the whitepaper, no more than 10,000,000,000 will ever be created. Cryptocurrency enthusiasts interested in a project incorporating DASH and smart contract capabilities, and aiming to disrupt global finance, may want to look further into this project while doing their due diligence.
*I am receiving LAX for the growth of the community.
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