Bitcoin Latinum, which is described in a press release as a “next generation” bitcoin fork, is now ready and available for trading. The asset is being released to the public through a new pre-sale launch, which will take place on bitcoinlatinum.com, while the currency will become generally available to crypto exchanges and traders everywhere beginning in early 2021.
Bitcoin Latinum Will Allegedly Improve Real-Time Usage
The currency is set to trade under the symbol LTNM, while more than 888 million units of the token will be available.
Bitcoin Latinum is an “enhanced bitcoin fork,” meaning that it can potentially improve speed limits for transactions and improve real-time usage for bitcoin and other cryptocurrencies that utilize its technology. One of the biggest problems with bitcoin, Ethereum and several other “old school” cryptocurrency blockchains as of late is that they’ve become relatively bogged down by activity.
Bitcoin, for example, can sometimes take several hours or even days to confirm and verify transactions, while Ethereum is also suffering from similar problems, which has resulted in high gas fees and an overall lack of scalability. Bitcoin has turned to the Lightning Network to potentially help with some of the problems caused by the slow transaction times, while Ethereum is preparing to launch what’s known as Ethereum 2.0, which will allegedly help to improve ETH-based speeds.
However, where Bitcoin Latinum differs is that it will accumulate its power from the decentralized finance (DeFi) space. The technology behind the platform is purportedly being adopted by companies all over the world; firms that work in gaming, media, telecommunications and cloud services. The tokens offered by Bitcoin Latinum will be tradeable through these companies and provide their customers with access to various goods and product options.
The insurance broker chosen to ensure that all risks are assessed, and that insurance is offered for customers of Bitcoin Latinum is Marsh & McLennan. This insurance is designed to ensure any clients utilizing Latinum’s technology are safe from theft, outside cyberattacks and internal issues that may result in outages or similar problems. The company is also getting a boatload of initial funding from a firm known as the Draper Dragon Fund.
One of the first companies that will be adopting the technology behind the token is Cross Creek Media, an Oscar-winning film studio tied to both Sony Pictures and Universal. The company’s films have earned nearly $2 billion from the international box office. Some of the films on the company’s roster include “Black Swan” with Natalie Portman and “Hacksaw Ridge.”
A Film Studio Incorporating Blockchain?
In a statement, Timmy Thompson – CEO of Cross Creek Media – said:
We are excited about Bitcoin Latinum and its capabilities as an insured token, as we continue developing award-winning properties. Cross Creek’s portfolio of new media technology investments perfectly positions us to take advantage of the digital asset sector in media and gaming.