EtherLite token got a high ranking. How does it work?

EtherLite ICO ranked high recently on several listing platforms. EtherLite is a specific blockchain. Its architecture leverages EVM compatibility and Proof-of-Stake functionality. This platform is fully compatible with Ethereum. That means any DAO, smart contract, and decentralized applications will work on EtherLite.

Furthermore, EtherLite is faster, more adaptable, and cheaper. It offers its customers instant finality, thus opening a new array of options for developers. Among EtherLite’s features are Web3 compatibility, fast transaction finality using a PoS consensus engine, high throughput, as well as ability to use existing smart contracts and tooling. It is also compatible with existing tools used in Ethereum Blockchain, including Metamask, Clients, Remix, Truffle, etc.

Cryptocurrencies have seen multiple soft and hard forks over the years. Some forks really changed the dynamics of the original chain and, in the process, made a name for themselves. EtherLite aspires to become one of them.

The token’s ICO will continue until 30 June 2021. ETL is an ERC-20 token. The total supply is 21,000,000,000 ETL. However, only 5,250,000,000 ETL (25%) are available for sale. The price is 0.03 USD per token during the presale and ICO.

Why did EtherLite become such successful? 

In the case of Ethereum, a hard fork offering solution for the current problems has become crucial. dApp makers struggle due to the extremely high network fees and slow transactions, along with clogging the network.

EtherLite aims to provide solutions to the issues mentioned above with its upcoming hard fork and provide a stable and sustainable blockchain ecosystem. EtherLite is a pure Proof-of-Stake version. That is something Ethereum had been working on for a few years, and it may still take a couple of years to see the light of the day.

Besides, the company is giving Ethereum holders an opportunity to claim free ETL coins by simply holding their Ethereum in their personal wallets. Users will also get equal amounts of ETL as ETH they have in their wallets.

For customers storing their ETH on the exchange, it may be up to the specific exchange whether to support the fork or not, though.