press release
PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the listing of ETL, being available to trade on the 19th July 2021 at 16:00 UTC. ETL was created by the EtherLite team, as the utility token for their borderless, decentralized network with validators and community members from all around the world. ETL will start trading with USDT and ETH pairs.
What is EtherLite?
EtherLite uses a proof-of-stake (PoS) consensus model as it seeks to pick off where its much larger peer, Ethereum, leaves off. In fact, EtherLite is a hard fork of Ethereum, representing a major change in the code of the larger blockchain that took place in May.
EtherLite has been moving through its roadmap, which in addition to the hard fork has included an air drop and an initial exchange offering. Now it’s time for the token to hit exchanges. The EtherLite team says that ETL has been audited by “top core experts” and is poised to begin trading on exchanges in July. They are quite ambitious and are calling it the “year of EtherLite.”
EtherLite vs. Ethereum
EtherLite is a hard fork of Ethereum, which is the go-to blockchain for smart contracts, DeFi, non-fungible tokens (NFTs) and more. The up-and-coming chain is designed to address some of the shortcomings still plaguing the Ethereum network. While there is only one Ethereum, EtherLite has the advantage of hindsight. It boasts features such as:
- Speed: The EtherLite network has block times of five seconds and more than 10,000 transactions per second.
- Low fees: High fees have been a stumbling block on Ethereum, causing some creators and developers to move to other blockchains.
- Staking: Users can stake their ETL on staking.etherlite.org to help maintain network security in exchange for rewards. Ethereum is transitioning from a proof-of-work (PoW) to a PoS consensus model.
One of EtherLite’s key features is that it is compatible with the Ethereum Virtual Machine (EVM), according to the project’s website….
