Etherlite (ETL) is a blockchain platform offering scalable and efficient solutions to Ethereum 1.0 users. The platform is a fork of Ethereum that aims at offering a faster, secure, and cheaper environment to users for building their decentralized applications (Dapps). 

The platform developed Etherlite as a fork with an aim to offer better scalability facilities using the existing Ethereum configuration. Some of the technology benefits that Etherlite seeks to offer are:

ETL is the native and governance token available on the network. The token is used to fuel the network, ensure governance and payment of network fees. Validators and users are required to stake a minimum of one hundred thousand ETL and one thousand ETL respectively to attain staking rewards in the ETL tokens. According to the whitepaper, the platform uses a 70/30 proportion to distribute the rewards to the participants. Delegators receive 70 percent of validator’s pool rewards and validators are allowed 30 percent or more rewards from the pool for successfully validating the blocks. 

In relation to the platform’s consensus mechanism, Etherlite designed POSDAO, an efficient public chain offering structured rewards to the validators or delegators. The role of POSDAO is to prevent malicious activities in rewarding the users on the platform.

Etherlite was developed in January 2021 by Prince Albert Von Anhalt, Alex Lam, Sharjeel, Sanda Lonela, and Cebeu Ion Marius. The roadmap depicts the launch of private sale ICO (Initial Coin Offering) in April, 2021. The total supply of ETL is 21,000,000,000.

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