The AI-generated memecoin TURBO is getting its very own Layer-1 blockchain, paving the way for the community-led asset to support various new use cases ranging from decentralized finance to blockchain-based games.
TurboChain was created thanks to a collaboration between Aurora Labs, which provides tools and services through Aurora Cloud that enable anyone to build a blockchain through a no-code interface, and NEAR Protocol, and it’s being hailed as a major milestone for TURBO’s utility.
As a dedicated virtual chain, Turbochain is said to support blazing fast transactions and have the ability to scale well beyond what most other blockchains are capable of. In addition, it allows developers to make customizations as they see fit, so they can innovate faster with new, TURBO-powered decentralized applications and grow the memecoin’s ecosystem. All gas fees on the network will be paid in TURBO.
With its $690 million market capitalization, TURBO is one of the most successful memecoins of all. It began life as a simple experiment, when its creator Rhett Mankind asked ChatGPT to “create the next great meme coin, starting with a budget of just $69”, and it’s now listed on more than 115 popular cryptocurrency exchanges, including all of the big ones like Binance, Coinbase, Kraken, Kucoin, Bitfinix, OKX, Crypto.com and Gate.io. Although Mankind designed it, he has since turned over control of TURBO to the community, and every new initiative is the result of a democratic consensus.
Given TURBO’s popularity, there’s clearly a lot of potential for those building dApps on the TurboChain, and they’ll benefit from its seamless cross-chain compatibility with Ethereum, NEAR and other major networks.
In addition, they’ll also be able to access the new TurboSwap platform, which simplifies the decentralized trading experience, enabling anyone to buy or sell TURBO via a simple swap mechanism. Users can buy TURBO simply by swapping assets as BTC, NEAR, ETH and Tether USD, then withdraw it to their connected wallet on Ethereum, NEAR or TurboChain with a few simple clicks, benefiting from low-fees and rapid execution.
Aurora Labs Chief Executive Alex Shevchenko said TurboChain and TurboSwap are a showcase of the power of Aurora’s Virtual Chains infrastructure, which is uniquely able to transform user’s ideas into scalable blockchain ecosystems.
“With the TURBO Token community, we’re setting a new standard for seamless blockchain innovation and interoperability,” he insisted.
Aurora Labs is an ambitious player in the blockchain development space and has plans to launch as much as 1,000 connected blockchains by the end of next year, enabling crypto communities to scale and innovate with ease.
The advantage of Aurora Cloud is that it can be used by anyone to quickly create and deploy a low-cost, highly-scalable blockchain without any coding skills at all. In doing so, it’s paving the way for memecoins and other crypto communities to dramatically expand with their own native ecosystems, while ensuring full connectivity with the Ethereum, Near and other major blockchain ecosystems.
Source: Depositphotos