PRESS RELEASE. LBank, a prominent global cryptocurrency trading platform, is thrilled to introduce EchoLink, its newest Launchpad initiative. Following the success of three previous Launchpad projects featuring $PINs, $UMM, and $AIMEME, EchoLink is poised to revolutionize the landscape of blockchain technology in IoT integration.
Introduction of EchoLink
EchoLink, an IoT oracle deployed on the Solana blockchain, is not just a leap forward in DePIN networks; it’s a paradigm shift towards decentralized, crowdsourced models. At the heart of this transformation lies the powerful $ECHO token, unlocking new possibilities for governance, staking, and advanced features within the EchoLink ecosystem.
Core Functionality
$ECHO takes center stage as EchoLink’s primary utility token, propelling the validation and rewarding mechanism of IoT devices through the groundbreaking Proof of Device Work (PoDW). This mechanism translates the physical efforts of IoT devices into digital value, creating a symbiotic relationship within the blockchain ecosystem.
Innovative Features
$ECHO not only serves as a utility token but also paves the way for innovative features within EchoLink. Leveraging advanced technologies like Zero-Knowledge Proofs and Fully Homomorphic Encryption (FHE), $ECHO ensures data privacy and security, making it an indispensable element of the EchoLink ecosystem.
Echo Oracle Architecture
$ECHO plays a crucial role in EchoLink’s sophisticated oracle architecture, ensuring credibility, efficient data distribution, and data privacy and security. This token becomes the key to unlocking the potential of EchoLink’s Data Trust Engine, Dynamic Data Flow Controller, Multi-Protocol Data Interface (MPDI), and Transparent Verifier.
$ECHO and $ED Tokenomics
EchoLink introduces a dual-token system, with $ECHO acting as the primary utility token and $ED representing credits for using EchoLink’s data services and APIs. The tokenomics are meticulously designed to encourage long-term holding and sustainable growth, with $ECHO taking the lead in governance decisions.
Roadmap and LBank Launchpad Participation
As EchoLink’s roadmap unfolds, $ECHO holders are set to play a pivotal role in the project’s development. From the development of Edge Node hardware to the main launch of Echo Oracle, $ECHO holders participating through LBank launchpad will contribute to shaping the future of IoT integration.
Participation in EchoLink is open to all LBank users, offering an inclusive opportunity to be part of this groundbreaking project. Users can join by meeting specific holding conditions and making contributions in USDT. To facilitate a seamless participation process, a comprehensive guide has been crafted, detailing every step of the way. This includes a dedicated snapshot period spanning from January 17 to 24, 2024, with conditions tailored to holdings in various cryptocurrencies such as BTC, ETH, USDT, and more.
About LBank
As EchoLink takes center stage on LBank Launchpad, observers are invited to join a voyage into the future of digital asset trading. LBank, recognized as a global pioneer, is unwavering in its commitment to delivering a secure, efficient, and holistic trading experience. Witness the unveiling of EchoLink, a testament to LBank’s dedication to fostering innovation and reshaping the contours of decentralized networks. The future beckons, and LBank serves as the gateway to a world where innovation converges seamlessly with opportunity.
For media inquiries, please contact:
Eddy Wang
PR Manager, LBank
Email: eddy.wang@lbank.com
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