What Is Locus Chain (LOCUS)?
Locus Chain (LOCUS) is a decentralized, public blockchain platform that seeks to resolve performance and scalability issues without sacrificing the value of decentralization. Locus Chain is a blockchain system for diverging users on various hardware devices with improved processing speed and enhanced volume handling capacity. Locus Chain aims to establish the next-generation blockchain platform by solving scalability and decentralization issues while providing compatibility with other blockchain platforms through interoperability technology.
As per the whitepaper, Locus Chain is a decentralized blockchain system with the objective of completing at least 4000 transactions per second. Locus Chain Network consists of various devices such as generic home PCs, data center servers, mobile phones, and low-powered IoT (Internet-of-things) devices, all in different ranges of Central Processing Unit (CPU) performance, storage capacity, and network speed. Through Locus Chain, projects like decentralized finance (DeFi), non-fungible token (NFT), and decentralized exchange (DEX) can expand. Also, the platform allows the decentralized economic ecosystem to connect, change, and grow while promoting the growth of decentralized businesses. Locus Chain platform features:
AWTC (Account-Wise Transaction Chain): A unique ledger structure enabling high-speed decentralized processing regardless of the number of participating nodes.
Verifiable Pruning: Validates data integrity even without the existence of local data. It decreases the node storage burden and contributes to obtaining high usability.
PoS-BFT: Secures the transaction confirmation, network security, and decentralized consensus by implementing BFT deterministic consensus between committees randomly selected for each round. Byzantine Fault Tolerant (BFT) is a category of the proof-of-stake (PoS) algorithm. BFT is the feature of a distributed network to reach consensus even when some of the nodes in the network failed to respond or responded with incorrect information.
Dynamic Sharding: Network usage reduces, and the transaction processing volume increases as per the number of shards. Decentralization is achieved by settling the imbalance among the shards. Sharding means dividing a large part into smaller parts.
LOCUS is the native governance token of the Locus Chain platform based on the ERC-20 token standard with a smart contract issued by the Locus Chain Foundation based in Singapore. LOCUS operates on the Delegated proof-of-stake (DPoS) consensus algorithm. Based on the PoS policy, voting rights are granted according to each node's amount of coin shares.
History of Locus Chain (LOCUS)
Locus Chain Foundation launched Locus Chain on April 28th, 2018, in an event held in Dubai World Trade Center, Dubai, UAE. Young Hyun Joo, Gilho Lee, and Soon Mok Jang lead the Locus Chain team. LOCUS has a total supply of 7,000,000,000 tokens.
