Is Liberty Coin The Next “Super Bitcoin”?
Even though Bitcoin is the first cryptocurrency created, the coin is still finding it very hard to rank in terms of several key factors that have to do with its structuring and real-life use case. The coin is well known to have one of the slowest confirmation time of any cryptocurrency out there, thereby making it pretty much difficult to use it for day to day transactions in the real time.
Since it is practically impossible to rebuild the Bitcoin project from scratch in order to fix its scalability issues. The next best thing is to build a robust, fast and more scalable network on the bitcoin chain. This way users of the new chain get to enjoy the security and several other added features that the bitcoin network has to offer along with the coin’s own superior structuring.
The need to have a “superior bitcoin” is what lead to the creation of the Liberty Coin.
The Liberty Coin
The Liberty Coin is a Bitcoin-based cryptocurrency thereby making it similar to bitcoin in function, albeit with significant improvements. The project is focused on becoming the most scalable and user-friendly payment-focused crypto.
Early last year, Martin Mizzell who is the founder of the Liberty Coin filled for a Limited Liability Company. This was done in Texas, USA, and thereby making Liberty Coin one of the few registered cryptocurrency businesses in the country.
The fact that Liberty Coin is a Limited Liability Company means it is legitimate, and investors can rest assured that their investment is safe. Another advantage of it being a Limited Liability Company, is that investors know that it will surely stand the test of time. Because Liberty Coin is based on Bitcoin, it is compatible with many important Bitcoin ecosystem components. The platform runs on a two-tier network structure, which improves transaction speed, governance and anonymity to a great extent.
The Liberty Coin uses the Zerocoin technology and is built on the SHA256 hashing algorithm. This is a great component of the Liberty Coin, as transactions can be done by two individuals without the identities of the two parties being revealed. It also runs on SwiftX, and with this, almost instant confirmations are gotten every time a real-time transaction is performed.
It has a decentralized governance system called Town Hall. The Town Hall allows proposals to be submitted by anyone. These proposals will then be approved by the Liberty citizens. For these proposals to be approved,
Features Of The Liberty Network
There are some key features of the Liberty Network that makes it attractive for investors and these are:
- A clear roadmap for on-chain scaling to up to 400MB blocks using custom-developed open source hardware.
- The availability of instant confirmation for transactions
- The availability of physical cash-like anonymity
- The presence of double spend protection
- The availability of self-governance
- The use of a self-funding model controlled by incentivized full nodes
Privacy
One thing that is guaranteed on the project is privacy, as the Zerocoin technology which the Liberty Coin uses properly helps with the protection of user’s identity, therefore allowing transactions to be made without any personal details given out.
High Returns on Investments
The Liberty Coin offers an added incentive to early adopters to join the Liberty Coin revolution. The rewards on the block will increase up to 5,000 XLIB over a period of time, and will gradually level out.
Fast Transactions
There is a one minute block time on the Liberty Project which is always fast. Transactions will always be confirmed almost immediately, thanks to SwiftX.
Masternodes For More Earnings
The Liberty Coin has decentralized Masternodes such as SwiftX, offering services for the network. Anyone can run it, as long as you are willing to escrow 50,000 XLIB and earn rewards of 65% to 75% of each block reward.
Other features of the project include Low Fees On Transactions, XLIB Earnings and Town Hall Privileges.
With blockchain technology’s use case rapidly increasing, the need for a faster and scalable solution is also on the rise. This makes now the perfect time to start exploring blockchain solutions such as the Liberty Coin.
