ETHERLITE: A PROOF OF STAKE CONSENSUS

mickeyberry (42)in #etl • 3 years ago

OVERVIEW

EtherLite is a coin that has its own blockchain- Etherlite. It is EVM compatible that supports all Ethereum platforms, like hosting smart contracts, defi, minting NFT, and many more.

It’s fast with 3 seconds average block time
Explorer

EtherLite is super cheap (you will only pay cents per transaction)

You can also stake your ETL and receive gas rebate.

It’s the cheaper and faster alternative with more added features. Visit EtherLite for more information.

If you consider Etherlite as a country then ETL is it’s native currency. Everything happens in Etherlite, ETL is used for that. ETL is EtherLite network’s native coin. It is used to sustain the network, run the governance mechanism and to pay the network fees. By holding ETL, participants are able to access EtherLite’s core functionalities.

ETL USE CASE

🚦Securing the network
EtherLite runs on a Proof-of-Stake mechanism which requires ETL to sustain the network. Validator nodes are required to stake a minimum of 100,000 ETL and in return validators will receive rewards and fees for their service. If validator does a malicious activity, then his staked ETL are basically confiscated

🚦Governance
‘Governance Tokens’ enable users to vote on the future of decentralized protocols, sure, but they also present fresh ways to entice assets onto protocol. ETL is used to run on-chain governance mechanisms for EtherLite. It will enable users to vote on the future of EtherLite. Governance will truly make EtherLite a decentralized protocol.

🚦Payments
The ETL token is ideal for sending and receiving payments thanks to the EtherLite network’s high-throughput, fast finality, and low fees. On EtherLite, money transfers take place within seconds and it cost much less.

🚦Network fees
ETL is used to pay for general network fees such as transaction fees to access and support network operations.

🚦Reward Distribution
Along with network fees, rewards in the EtherLite ecosystem are distributed using ETLs.

**SOME OF ETHERLITE FUNCTIONALITY **
The native token of EtherLite is the very key 🔑 to its CORE functioning such as

🚀Securing the network
🚀Governance
🚀Network fees
🚀Payments and more

The viability of Etherlite (ETL) is unparalleled and hence inevitable.

🚦How prepared are you to be part of this unparalleled reward?

See my next post on how to get some ETL for free and How to buy as well

ETHERLITE STAKING

By staking your ETL, you help to maintain Etherlite's network secure and by doing so, you earn rewards. Staking rewards are released according to your choice preferences