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Smart Layer Network

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Discover Smart Layer Network's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Smart Layer Network?

Smart Layer Network (SLN) is a blockchain-based service network that enables advanced token utility for Web3 gaming, real-world assets (RWA), and decentralized finance (DeFi) projects. It allows for the implementation of token logic, facilitating intricate interactions with different systems and tokens in a decentralized, scalable, and secure manner.

How is Smart Layer Network used?

Smart Layer Network (SLN) is a decentralized services network designed to support all EVM chains, enabling the scaling of Smart Tokens adoption, including Executable Tokens and NFTs. This network facilitates the use of smart tokens, which are crypto assets with executable functionality, thereby enhancing their utility and potential applications.

How do I store Smart Layer Network?

To store Smart Layer Network (SLN) tokens securely, consider using cold wallets. There are two types of cold wallets:

  1. Paper Wallet: Generate public and private keys offline using a program, then print them on a piece of paper. This method is secure but less convenient for frequent transactions.
  2. Hardware Cold Wallet: Store your crypto addresses and keys in a physical device, such as a USB drive. This method is more convenient for managing multiple assets and is preferred by most users.

How to buy Smart Layer Network?

To buy Smart Layer Network (SLN) tokens, follow these steps:

  1. Choose a Crypto Exchange: Select a reputable cryptocurrency exchange that supports SLN, such as KuCoin, CoinEx, OKX, gate.io, or MEXC. Compare fees, security features, and supported currencies before making a decision.

  2. Create an Account: Sign up for a free account on the chosen exchange. This typically involves providing an email address, mobile number, and country of residence, and creating a strong password.

  3. Verify Your Account: Complete the verification process by providing personal information and uploading a valid Photo ID. This ensures stronger protection of your account.

  1. Add Funds: Deposit funds into your exchange account using a credit/debit card, bank transfer, or other supported payment methods.

  2. Buy SLN: Use the deposited funds to purchase SLN tokens. You can do this through the spot market, where you can place market orders or limit orders to buy SLN at a specified price.

  3. Store Your SLN: Once you have purchased SLN, you can store it in your exchange wallet or transfer it to a cold wallet (hardware or paper) for enhanced security.

Remember to research and compare exchanges, set a budget, and consider your investment strategy before buying SLN tokens.

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History of Smart Layer Network

The Smart Layer Network (SLN) is a cryptocurrency project that has a relatively recent history. The token sale for SLN took place from February 21, 2024, to February 23, 2024, at a price of $0.60 per token. During this sale, 40,000 tokens were available for purchase, with a hardcap of $24,000.

After its initial token sale, the SLN token began trading on various exchanges. It has been listed on platforms such as Crypto.com, expanding its accessibility to users. The token is designed to power the Smart Layer ecosystem, which focuses on enhancing the utility and liquidity of digital assets through advanced token front-ends and executable scripts.

Smart Layer Network is built on Ethereum infrastructure and utilizes ERC-5169 and TokenScript technologies. These innovations enable tokens to become modular dApps, carry executable scripts, and display front-ends, revolutionizing the use cases for digital assets. The project has already demonstrated scalability through projects like Smart Cats, which have processed over 22 million transactions and have more than 500,000 users.

The Smart Layer Network token has a maximum supply of 100 million tokens and serves as the backbone for value capture, utility, governance, and incentivization within the ecosystem. The token's price has fluctuated over time, with an all-time high of $7.77 on February 23, 2024, and an all-time low of $0.8181 on June 18, 2024.

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How Smart Layer Network works

The Smart Layer Network (SLN) is a groundbreaking crypto project that revolutionizes web integration by introducing a novel integration layer. This layer allows tokens to operate without the need for a complex verification process, paving the way for seamless and secure interactions within the blockchain domain.

Key Components
  1. Blockchain Layer: This layer hosts smart contracts responsible for enforcing token transaction rules and storing snapshots of token operations for future validation.
  2. Anchoring Nodes: Managed by recognized organizations chosen by a DAO, these nodes ensure network stability, security, and adherence to service-level objectives. They record token operation commitments on the blockchain.
  3. Service Nodes: This extensive network distributes service tasks using a distributed hashtable and provides TokenAPIs for integrations. Service nodes are incentivized by Smart Layer Tokens to perform various tasks.
How It Works
  • Token Logic Execution: The Smart Layer enables the execution of token logic, allowing for intricate interactions with different systems and tokens in a decentralized, scalable, and secure manner.
  • Token Operations: Service nodes handle the processing and execution of tasks, while anchoring nodes maintain a transparent and accountable record of operations, ensuring traceability and reliability throughout the network.
  • Incentivization: Smart Layer Tokens fuel the operations of the network, motivating nodes to contribute resources and adhere to service-level agreements.
Use Cases

The Smart Layer network supports various use cases, such as:

  • Smart Car Token: Enables users to access and control multiple functionalities of a smart car, including unlocking, starting the engine, or adjusting settings.
  • Smart Health Token: Serves as a digital key for accessing and managing health-related data and services, including medical records, appointment scheduling, and prescription management.
Token Details
  • SLN Token: The indigenous utility and governance token of Smart Layer, with a capped supply of 100 million tokens. It serves to secure and fuel the Smart Layer Network and is a vital component of other tools within the Smart Layer ecosystem.
Conclusion

The Smart Layer Network is a decentralized services network that leverages blockchain technology to establish a novel integration layer, enabling trustless token logic and fostering a tokenized web with limitless integration potential. Its robust architecture and incentivized network ensure seamless, secure, and scalable interactions within the blockchain domain.

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Smart Layer Network's strengths

The Smart Layer Network (SLN) token has several strengths that make it a valuable and scalable solution for integrating different systems and tokens in a decentralized manner. Here are some key strengths:

  1. Decentralized Integration: SLN introduces a new layer of integration, enabling trustless token logic and paving the way for a tokenized web with boundless integration possibilities.

  2. Scalability: The Smart Layer network is structured to support various use cases through its token-incentivized distributed network of service nodes, ensuring scalability and efficiency.

  3. Security: The network ensures privacy and security by using blockchain technology to host smart contracts responsible for enforcing token transaction rules and storing snapshots of token operations for future validation.

  1. Token Logic: The Smart Layer network allows for intricate interactions with different systems and tokens in a decentralized, scalable, and secure manner, facilitating trustless token logic.

  2. Governance: The native utility and governance token of Smart Layer is $SLN, which captures value from the Smart Layer ecosystem, ensuring that the network is governed and incentivized effectively.

  3. Use Cases: The Smart Layer network is structured to support various use cases through its token-incentivized distributed network of service nodes, including the Smart Car Token and the Smart Health Token, which can facilitate more intricate tasks like scheduling car maintenance or updating software, as defined within the token’s smart contract and executed by service nodes.

  1. Tokenomics: The $SLN token captures value from the Smart Layer ecosystem, ensuring that the network is governed and incentivized effectively.

  2. Programmability: The Smart Layer network is a programmable blockchain-based service network that enables interactions with different systems and tokens in a decentralized, scalable, and secure manner.

  3. Tokenized Web: The Smart Layer network lays the groundwork for a tokenized web with endless integration potential, ensuring that the network is governed and incentivized effectively.

  1. Innovation Zone: The $SLN token is available for trading in the Innovation Zone, which provides a platform for users to invest in and support the development of innovative blockchain-based solutions.

These strengths make the Smart Layer Network (SLN) token a valuable and scalable solution for integrating different systems and tokens in a decentralized manner.

Smart Layer Network's risks

Smart Layer Network (SLN) carries financial risks associated with the volatility of the cryptocurrency market. According to InvestorsObserver, SLN has an average risk analysis score, indicating that it can be manipulated by significant changes in volume and market capitalization over a short period. This volatility can lead to sudden price shifts, making it a high-risk investment.

Additionally, SLN's risk profile is influenced by its market capitalization and liquidity. The token's price can be affected by large trades or changes in market sentiment, which can result in significant losses for investors. Furthermore, the crypto market is known for its unpredictability, and even well-performing tokens can experience sudden downturns.

It is essential for investors to conduct thorough research and consider these risks before making any investment decisions in SLN. The project's robust user base, partnerships, and ambitious roadmap are promising, but they do not guarantee immunity from market fluctuations.

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Did Smart Layer Network raise funds?

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Smart Layer Network's ecosystem

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Smart Layer Network’s team

  • Victor Zhang: CEO & Co-founder
  • Weiwu Zhang: CTO & Co-founder
  • James Brown: Lead Dev & Co-founder
  • Brent Annells: Chief Marketing Officer

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The fundamental analysis assistant for crypto value investors.

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