L1X : A Revolutionary Layer 1 Blockchain

What is L1X?

Layer One X – L1X – is a revolutionary new layer 1 blockchain technology being developed in Perth, Australia which is planning to ICO (Initial Coin Offering) in August/September 2023.

In almost all of its technology this new L1X blockchain built by the leading Indian developer by Kevin Countino and the University of Western Australia, seems to be at least a peer to the best in class existing layer 1 blockchains in all its different functions — yet with its revolutionary new interoperability feature we believe it could become one of the premier blockchains with its massive potential utility in the ongoing development of cryptoworld.

L1X is now doing a final private pre-ICO placement at 10 cents per token to raise USD10 million before the ICO. The ICO and first public offering is planned to be at 50 cents per token around August or September this year.

What Is A Layer 1 Blockchain?

Layer 1 blockchains act as the foundations upon which the world’s 13,000 or so crypto currencies, tokens, data exchanges, smart contracts, NFTs and Dapps operate.

In the simplest terms: think of a layer 1 blockchain like a toy train set with several stations (databases or coins) built on it. The railway interconnects all the stations by using the different types of trains and carriages on it to carry encrypted data (ledgers, tokens, Dapps, NFTs and smart contracts) in different ways along the rails between the stations.

The problem has been - until now - that on each individual railway the different trains (data blocks) can only really interface with the stations on that train set.

For those trains to move from one train set to another – and vice versa – requires bridges to be built between the train sets - however these bridges are unsafe as hacking of data, as it is moved on to a bridge and then to the next toy train set track is common. It is estimated that over USD2 billion was stolen that way just last year. So people are reluctant to use them.

Without using bridges, moving coins or data between train sets is costly, bothersome and involves going into stable coins on an exchange or back into fiat currency to do so. This has dissuaded blockchains to inter-operate with each other, and this a major hurdle and limitation to the development of a truly global intraoperative crypto network.

What Are L1X’s Unique New Features?

1. Interoperability

But now, L1X, a recently developed, unique new blockchain, for the first time ever, can directly communicate with and inter-operate directly with, most of the other major blockchains.

Through its new, proven interoperability (native connection, direct from chain to chain) technology, L1X can now join the crypto world’s major blockchains into one big contiguous network marketplace and data exchange a feature no other chain can offer, and offers huge potential utility, speed, new opportunities and value to the crypto world.

Tokens, data storage, smart contracts, NFT and Dapps can now inter-operate all over the cryptoworld relatively seamlessly. Moreover L1X newly developed technology allows it to be done, fast, cheaply, and in a decentralised manner.

We believe this new breakthrough L1X blockchain will greatly facilitate the future development of the Crypto world and future money. Post ICO, if L1X is accepted and widely adopted - as should logically be expected, the L1X token price could potentially soar way, way above its current USD 50 million valuation now to either reach parity, or more, with its other major Layer 1 blockchain peers.

2. Speed

Able to process 100,000 TPS (transactions per second), L1X is also as fast as the fastest other blockchains today. L1X has proven this already on its existing testnet, which has been operating now for several months. The potential for such speedily encrypted and validated data transfer is huge, not just in the cryptoworld but also could have much practical application in finance, medicine, military, retail, logistics and marketing, etc.

3. Cost

Blockchains take a fee for each data transaction done on it, (called “gas fees”). New Blockchains have therefore been competing to create the cheapest transaction fees -to attract more users. At a maximum of just 1 cent per transaction, L1X is also cheaper than almost all other L1 blockchains. For example, L1 blockchains like Cosmos or Polkadot charge between 10-20 cents per transaction, and Ethereum can cost $10-100+at busy times.

4. Decentralisation

L1X is legally structured as a foundation based in Switzerland by the same law firm who established Ethereum. It is a partially decentralised blockchain - meaning it will be run and operated by the node operators, validators and users on the chain - but also with an overseeing governing council in the Swiss foundation that owns it. Most other L1 blockchains which claim full decentralisation (and are not truly decentralised) are still run by the developers or small whale owner groups- and can be changed based on their whims or financial needs.

5. Security

Security on any blockchain is also a major concern - and on this front L1X has also proved itself, under heavy volume stress-test situations and against several top hackers, to be equal to its peers due to its innovative new transaction validation system.

6. Tokenomics (Deflationary)

The tokeomics for L1X was developed by Prism, the leading global tokenomics specialists who designed the tokeomics for many other major layer 1 blockchains. L1X will have a maximum supply of one billion tokens. However the circulating supply shall only be 500 million tokens. (crypto market cap. calculations are traditionally based on circulating supply only) The balance of the tokens will be held in reserve by the Swiss foundation. 25% of all transaction fees will accrue to that foundation - to be used to buy back or burn circulating tokens to create a deflationary network, - ie- reducing the number of tokens and so increasing the remaining tokens values and for the further development of the blockchain.

7. Ability To Be Developed On

L1X is created by developers and hence is very developer-friendly and already has groups developing several Dapps, contracts and databases on it already while still just running as a test net - this is something many of the other new L1 blockchains did not have before they went to ICO.

8. DEX

L1X is has also built its own DEX (Decentralised Exchange) where tokens from all the other blockchains can be traded without needing bridges for just 1 cent per transaction. With tens of billions or transactions on crypto DEX’s weekly, a small share of that market will produce huge ongoing fee income for the network and L1x coin stakers - in addition to its expected gas fees. The Dex has been awarded to a consortium to run on behalf of L1X.

L1X’s interoperability should make this DEX unique - as it will be the only one where all the major blockchains native coins can all be traded directly with each other seamlessly, allowing for example the big money whales wallets from Bitcoin and Ethereum networks to access smaller developing coins from other lesser blockchains without needing to use bridges, go into stable coins or moving through third party owned coin exchanges.

9. Staking

If the L1X receives the adoption that could be expected - even at one cent per transaction on its DEX or from gas fees - it has the potential for millions or billions of transactions per year which could generate significant annual income. 50% of all income will be returned to the node operators who in turn will offer a competitive income to holders who may choose to stake their tokens.

The Investment Potential?

Potential Downside

Crypto can be very unpredictable, volatile and risky - so it’s prudent to examine the downside potential first. In L1X’s case, we feel that due to the current cheap pre-ICO entry price of only 10 cents,(a USD 50 million valuation) - and because the L1X ICO price is planned to open at 50 cents, we feel there is less chance for the price to fall too much below 10 cents post ICO, even if the blockchain gets little traction, adoption, or even if the new tech goes pear shaped under the bigger expected volumes.

Potential Upside

L1X will be the first and only fully interoperable blockchain on the market.- this makes it notable and unique. In all other respects -Speed, cost. Tokenomics, security, decentralisation, L1X appears to be as efficient or better than most of its major L1 peers. Therefore post ICO, over time, as L1X gets better understood and adopted in the market, we believe L1X’s valuation should logically be expected to rise towards parity with most of its major layer 1 peers, or more.

The current valuations of its major Layer 1X peers - plus their valuations at the top of the last crypto bull market.

*coin market caps are measured by circulating supply - its fully diluted market cap would be USD 100 million if measured against max supply.

When’s The Next Crypto Bull Market?

Since its inception in 2009, the crypto market has moved cyclically in four year cycles based around the pre-set 4 year Bitcoin halving schedule.

So far, each cycle, it has had a bull run from about 1+ year before the next BTC halving to hit its high about 1+ year after. Then it recedes into a bear market, before the next bull rally.

If the crypto market keeps to this predictable four year cycle (a big if), as the next BTC halving will be around May of 2024, therefore, we believe currently it is has almost completed it’s current bear market recession phase and is about to head into a new bull market set to culminate sometime in 2025.

Therefore we also believe now is an opportune time to reinvest in crypto. In L1X’s case you are investing near the bottom of a crypto bear market – at the cheapest pre-ICO price in a potentially very promising new blockchain. This should hopefully ensure your downside is mitigated and your upside potential greatly increased.

A chart of the Bitcoin Cycle of 4 Year Rallies Wrapped Around the Halvings

A Note On Escrow

The L1X coins in this current private sale at 10 cents shall be escrowed after the ICO. Buyers will receive one 15th of their coins over the first15 months post ICO. The reason for this is that due to the generous expected 5 x uplift at ICO the developers are offering private buyers now, they don’t want them to immediately dump all their coins on the new market to take profit and risk depressing the market before it has a chance to fully develop.