Multifunction Utility

The L1X Coin is a multifunctional utility coin at the heart of our ecosystem, designed to enhance the efficiency and usability of our blockchain platform.

L1X is designed for projects, developers and end users with its scalability features including 100K TPS, 1.6s block finality and 1 cent gas fee on chain. Projects and users can leverage these features, as well as its unrivalled interoperability to create new applications to drive mass adoption and attract new markets to blockchain.

Wallet

L1X has its own multi-chain wallet allowing users to access tokens or NFT’s on any connected chain. The variety and size of the potential markets and users L1X will have access are in the hundreds of millions.

Gas Fee Functionality:

In the context of blockchain technology, a 'gas fee' is a critical component that ensures the proper functioning and security of the network. It is essentially a transaction fee paid by users to execute actions on the blockchain, such as transferring assets, executing smart contracts, or processing data.

Here's how the L1X Coin can serve as a gas fee:

Transaction Processing: When users interact with our blockchain, whether it's recording healthcare data securely or engaging in gaming activities, each action consumes computational resources. The L1X Coin is used to pay for these resources, ensuring that the network's nodes, miners, and validators are incentivized to process and validate transactions accurately and promptly.

Resource Allocation:

The L1X Coin plays a vital role in resource allocation within the network. Users who are willing to pay higher L1X gas fees can prioritize their transactions, ensuring faster processing times. This mechanism helps maintain fairness and efficiency in the network.

Network Security: By requiring users to pay L1X Coins as gas fees, we enhance the security of the L1X blockchain. It discourages spam transactions and malicious activities, as users must have a stake in the network in the form of L1X Coins, aligning their interests with the network's integrity.