Global trades, as reinvented in Electronic Commerce (e-commerce) transactions have been undergoing many challenges in recent years. From last-mile delivery issues to the dominance of centralized parties, the challenges are many.
The Largo Coin Input
Largo Coin is a blockchain-backed platform and cryptocurrency project that wants to reinvent how global trades are facilitated. At the core of this project is the revamp of the traditional e-commerce industry by using blockchain technology to decentralize trades while enabling cryptocurrency-backed payments using the Largo Coin (LRG).
Solution 1: Cryptocurrency Payments
The earliest cryptocurrency (Bitcoin) created a novel financial system that is less dependent on centralized systems. That also forms the basis for the Largo Coin that will be used for facilitating transactions using cryptocurrencies.
Worthy of mention is that the Largo Coin is currently trading on many cryptocurrency exchanges. As it stands now, the use case is also increasing as it is evident in the current worth of the Largo Coin.
What this means is that through more strategic partnerships, Largo Coin will warm its way into the heart e-commerce merchant platforms that will be more than thrilled to use it as one of the many payment methods on their platforms.
What Does This Mean for Global Trades?
Interestingly, the integration and acceptance of the Largo Coin as a payment instrument in many e-commerce platforms has many advantages for the globalized e-commerce industry.
The first benefit is that it will be easier for merchants to accept payments, as cryptocurrency payments are known to be remitted in a few minutes.
The second benefit is that buyers will find it easier to make payments with the Largo Coin, as it is cheaper and faster than what the traditional payment methods have to offer.
Solution 2: Decentralized E-Commerce
Once more, blockchain technology is been beckoned upon to make massive impacts in the e-commerce industry.
The major input here is that Largo Coin blockchain and the decentralized system doesn’t entirely rely on what the traditional chain network has to offer. Instead, it diversifies the mechanisms to ensure that you enjoy seamless e-commerce transactions via the network.
Largo Coin Features
Aside from the decentralized and cryptocurrency-backed transaction models, Largo Coin also has additional features that set it apart from the traditional decentralized trade platforms.
1. Master Node
It is commonly known that nodes help to bolster the operations of blockchain networks. What Largo Coin does, in this case, is to create a different system that is void of some lapses in regular nodes.
To that end, it uses a Master Node that completes a block of transactions in a few minutes. The node also stores the entire copy of the distributed ledger for reference.
In addition to that, the Master Node used by Largo Coin performs some other functions, including:
- Facilitating transactions in real-time
- Enabling voting and self-governance of the platform
2. PoS Consensus Mechanism
Largo Coin opted to use the Proof-of-Stake (PoS) consensus algorithm because of the conservation of resources, as well as the mitigation of risky exposure to 51% attack.
Conclusion
The future of e-commerce looks better now that Largo Coin is here to reinvent the system and make it open to everyone in the global trade sector.
USEFUL LINKS
Website: https://largocoin.io/
Whitepaper: https://largocoin.io/wp-content/uploads/2019/06/WP-v4-converted.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5200762
Telegram: https://t.me/largocoin_chat
Twitter: https://twitter.com/largocoin
Facebook: https://www.facebook.com/LargoCoinPublic
Medium: https://medium.com/@largocoin
Reddit: https://www.reddit.com/r/largocoin/
AUTHOR'S DETAILS
Bitcointalk Username- Rescuea
Bitcointalk Profile URL- https://bitcointalk.org/index.php?action=profile;u=2767664;sa=summary