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What Is Locus Chain?

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Jun 2, 2023
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5 min read
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This blog post will cover:

  • About Locus Chain (LOCUS)
  • Where did Locus Chain (LOCUS) come from?
  • What are the advantages of Locus Chain (LOCUS)?
  • What are the disadvantages of Locus Chain (LOCUS)?
  • How to buy Locus Chain (LOCUS) on SimpleSwap?

About Locus Chain (LOCUS)

The company claims to be an absolutely decentralized public blockchain technology that offers outstanding performance and scalability, thereby facilitating the global adoption of retail services. This blockchain protocol is perfectly suitable for a wide range of industries, such as gaming projects, Smart City, and AI, that demand processing big amounts of information.

Here’s a relevant roadmap the team has shared on their official website:

© Locus Chain

LOCUS is a main currency that will be used within the ecosystem of Locus Chain right after the mainnet launch. Now it’s a ERC-20 token with a smart contract made by the Locus Chain company.  

Where did Locus Chain (LOCUS) come from?

Bloom Technology, the enterprise responsible for the creation of Locus Chain, was established in Seoul, Korea back in 1994 by Sang Yoon Lee. He is a pioneer in the Korean video games sector. In 2017, Bloom Technology began the development of a public blockchain protocol known now as Locus Chain.

According to the team, their focus on scalability and complete decentralization is a significant step towards a truly decentralized economic ecosystem. The interoperability technology enables seamless integration with other blockchain platforms, allowing for more expansive applications of DeFi, NFT, and DEX. Due to the offered solutions, the potential for growth and change in the blockchain industry is supposed to be vast.

What are the advantages of Locus Chain (LOCUS)?

  1. Completely decentralized
    
    The project aims to become the next generation blockchain platform by solving scalability and full decentralization issues, while providing the compatibility with other blockchain platforms through interoperability technology.
  2. Scalable
    
    Locus chain uses only 5-10% of the network bandwidth with ledger size kept within 10 GB.
  3. Secure
    
    Tax-free policy makes the project unique. Due to this move, it’s able to attract loyal followers and expand its customer base.

What are the disadvantages of Locus Chain (LOCUS)?

  1. Token price
    
    Considering the time Locus Chain is on the crypto market, the price of its token is quite low. However due to their mainnet launch and other updates the price might go up soon. 
  2. Limited adoption and low liquidity
    
    Locus Chain is not widely adopted yet, which impacts its liquidity. It is an essential factor for businesses and investors considering the option of using Locus Chain technology.

How to buy Locus Chain (LOCUS) on SimpleSwap?

Want to buy LOCUS and join the Locus Chain community? SimpleSwap will help you. Follow the short instruction below:

  1. Select the cryptocurrency you would like to exchange (e.g., Bitcoin). Enter the amount you want to swap.
  2. Choose LOCUS in the second drop-down list (the crypto you would like to receive). You will see the estimated amount that you will get after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. LOCUS will be sent there. Please check that you entered the right address.
  5. Create the exchange.
  6. You will see the BTC deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange. After that, wait for tokens to reach your wallet.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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