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LibrumCHAIN successfully launched testnet – New blockchain technology to launch in August

LibrumCHAIN is a cutting-edge network that aims to revolutionize the tokenization market with scalability, low transaction costs and high efficiency. It serves as the fundament for its own ecosystem and offers a developer-friendly environment to build other tokenized projects on-chain. All transactions made within the network are stored 100% transparently and can be traced at any time.

LibrumCHAIN was developed by the blockchain company Matrixchain, based in Tallinn, Estonia and employs an international team of developers who have worked for well-known companies such as IBM, Microsoft, Google and many more in the development of blockchain solutions.

The first funding rounds were very successful and raised EUR 2.5 million. This led to the first implementation phase to develop and program LibrumCHAIN. The fundament was laid, and further developments build on this essential phase.

The LibrumCHAIN is a next-generation Layer 1 blockchain solution in the Proof of Authority (PoA) consensus mechanism and an evolution of the energy-efficient Proof of Stake consensus mechanism. The nodes in a network validate transactions that are randomly split by the network. The probability depends on the number of coins held. Holders of the Librum Coin ($LCNC) are given one vote per coin to have a vote on important decisions. These decisions include changes in the structure or topology of the network.

Interoperability especially is an important core aspect of the LibrumCHAIN. Existing projects on other networks can easily integrate onto the LibrumCHAIN and benefit from lower transaction costs. Furthermore, LibrumCHAIN offers a high scalability, which will enable it to meet the demand in the future market without getting into trouble that the network suffers downtime.

Librum is not limited to the crypto industry, but solves a huge problem in the banking world by having the LibrumCHAIN digitize real assets and store them authentically on the blockchain. These digitized assets are then accessible to up to 95% of everyone in the world via tokenization, creating a more open and fair system of the future.

The test network started at the end of May 2022 and has been running stably since then. The nodes were successfully installed one after the other and integrated into the network. Stress tests and bug bounty programs are currently still running and provide important insights into the efficiency of the network.

The mainnet is scheduled to go live by the end of July 2022. At launch, it is ensured that the network is running stable and all functionalities are ready to provide a unique ecosystem.

For the final completion and further development of the blockchain, a follow-up financing round will still be carried out. Thus, it is possible to launch on more liquid exchanges, to make the launch of LibrumCHAIN the best possible and to better address external difficulties.

Preparations have already been made. A listing on Coinmarketcap and Coingecko will take place as soon as the smartcontract is live. From that point on, the entire set of coins is created and every transaction can be tracked.

Important partnerships in the financial sector have already been signed. This includes white labeling for the tokenization of shares and securities, the healthcare sector, the travel industry, and projects in the field of renewable energies and decarbonization. Concrete markets are in the region of Germany and Asia. However, the Target market is by no means limited to these, but rather a first port of call to realize concrete projects.

“With LibrumCHAIN, we want to set new standards in tokenization. Our blockchain technology is more modern and energy-saving than existing blockchains. Getting the topic of economy and ecology in line, paired with high security is very important to us. Through our smart contract solutions, we intend to push competitors like Tron out of the market and take their market share, which will benefit potential LibrumCHAIN investors in the future.” said by Holger Kuhlmann the CEO/Founder of Librumchain.

Photo by Shubham Dhage on Unsplash

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