Base, a well-known Ethereum Layer 2 (L2) chain, has been incorporated into the LCX ecosystem, according to the company. In their quest to offer people a thorough and user-friendly crypto experience, this exciting development represents a critical turning point.
LCX Crypto and Base Network Join Forces to Provide an Improved Crypto Experience – 2023
ETH deposits and withdrawals are now accepted by The Base Network through LCX. The commitment of LCX to providing traders with a secure, efficient, and cost-effective trading environment is demonstrated by this integration. The way users interact with the platform is also anticipated to significantly improve as a result of these upgrades.
What Benefits Will This Collaboration Provide?
The combination of these two will benefit both companies. The benefits of cooperation can be categorized under four main headings.
More Efficiency and Scalability
The Base Network integration greatly increases the LCX Exchange’s capacity for growth. As a result, the platform is now capable of supporting a much higher number of simultaneous transactions and users. Also, users may carry out trades and transactions quickly and with few delays due to increased efficiency.
Higher Transactional Speeds
The LCX Exchange’s transaction speeds significantly rise as a result of the Base Network integration. It will be easier for you to transfer your digital assets, and orders will be processed more quickly.
Cheaper Gas Prices
Gas costs have decreased for LCX Exchange subscribers due to Base Network‘s Layer 2 solution. Your cryptocurrency transactions will be cheaper as a result, increasing the profitability of trading.
Maintained Security and Decentralization Comparable to the Mainnet (Layer 1)
LCX wants to reassure its consumers that security and decentralization remain top priorities despite advancements in scalability and efficiency. The solution provided by Base Network maintains the same degree of security and decentralization as Mainnet (Layer 1). The highest level of caution and adherence to legal requirements are still used to protect user assets.
About Base Network
On August 9, 2023, the US-based cryptocurrency exchange Coinbase officially launched Base, an Ethereum Layer 2 (L2) blockchain. Being the first blockchain to be established by a publicly traded firm, Base attracted interest in the cryptocurrency community. Based on the OP Stack, the open-source development stack that underpins Optimism’s Ethereum L2 blockchain, Base was created in collaboration with Optimism.
About LCX Crypto
The Liechtenstein-based Liechtenstein Cryptoassets Exchange (LCX) has a full range of crypto compliance tools and complies with all applicable regulations governing blockchain technology. Digital currency trading and token sales can be done legally on the LCX Exchange, a regulated cryptocurrency exchange.
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