LightPay Coin: the Future is Here, Pay, Buy, Sell using LPC
According to CoinMarketCap, a coin tracker, there are more than 1,000 cryptocurrencies serving different purposes and more continue to crop up. It’s not hard to see why cryptocurrencies and related digital assets are springing up every day of the week. Their underlying source codes are usually open source and stem from the first every cryptocurrency, Bitcoin. Bitcoin is the most valuable and influential coin but LightPay Coin founders, Damon Bryant, and Wladyslaw Hintsynger, want to take on Bitcoin and perhaps complement if not replace it in the payment sector.
The value proposition of LightPay coin
To first understand the value propositions of LightPay coin, you must have a solid foundation of what a cryptocurrency is. Simply put a cryptocurrency is a digital asset that reverts power back to the user thanks to cryptography which make everything trustless. A trustless system means there is no need to trust a third party entity like banks or any other financial institutions that were traditional custodians of funds. In this new disruptive arrangement, the user has total control of his/her funds. Besides, there increased transparency as every transaction is executed on a transparent ledger. LightPay Coin embodies all these properties but is faster, more secure and can process far more transactions per second without network delays.
What is LightPay Coin?
To elaborate more, LightPay Coin, ticker symbol, LPC is a cryptocurrency. What this means is that LPC coin holders can use it as a medium of exchange because it has the three main properties of money. It is fungible, can act as a store of value and is a unit of account. However, unlike fiat, there is no central issuer. LightPay Coin is also a little bit different from Bitcoin because it uses a hybrid consensus algorithm Proof of Stake (PoS) and Proof of Work (POW) for security and energy efficiency.
Aside from this, the platform incorporates Master Nodes. Because of Proof of Stake, the team behind LightPay coin has locked up 1,972,000 LPC which is equivalent to 67.75 percent of the total supply. 90,000 LPC coins were pre-mined. In total, there are 2,910,516 PLC coins. Because it is a hybrid system, network miners are rewarded between 3 – 26 LPC for transaction confirmation with Quark acting as their hashing algorithm. Rewards are disbursed every minute.
Master Nodes are similar to Bitcoin miners. The only difference is that they have to stake a given amount of LPC. These LPC earn interest. Aside from validating transactions, Master Nodes have a full copy of the blockchain and stabilizes and secures the network. Being a Master Node is lucrative. With each LPC retailing at $1.22 at the time of press, the three-month return on investment (ROI) is 405 percent. So far, more than 21,800 LPC has been paid out to 1,972 active Master Nodes. To qualify, a normal full node should stake 1,000 LPC coins. Master Node reward varies between 65 to 90 percent while Staking reward can be anywhere between 10 to 35 percent.
Special Features of LightPay Coin (LPC)
Uniquely, LPC is inherently designed to be simple to use, secure. Coin is meant for mass adoption through their innovative NFC contactless payments. The platform banks on the contactless payment for widespread adoption. It is because the technology allows LPC to be used for payment while at the same time enabling conversion to fiat and vice versa. As the coin is fashioned to be a fiat replacement, LightPay Coin has a simple and intuitive wallet that allows for transactions. Their wallet has inbuilt NFC for instant payments and is certified secure as it uses the AES-256-CBC algorithm. This means that users need not to worry about wallet breaches though users are advised to take responsibility and protect their private keys. Private keys are the only means of confirming ownership and once lost, so are your LPCs.
Cryptocurrency Exchanges Supporting LPC
LightPay Coin was launched on May 27, 2018, but is now listed at six different crypto exchanges:
- Cryptopia
- CryptoBridge
- CoinExchange.io
- EscoDex
- Stock Exchange
- South Exchange.
LightPay Coin (LPC) has a total market cap of $3,536,141.00 and daily average volume of $146,307.81 or 22.19 BTCs. To invest in LPC, investors must first buy BTC or ETH or DOGE or LTC. Then, depending on a preferred exchange, convert it for LPC.
Conclusion
In summary, LightPay coin is a hybrid PO-POW coin with a difference. The fact that it shifts focus from the rewards systems and associated functions and uses Master nodes for transactions results in a premier coin. It has potentially explosive growth in the near future. With the coin market in general heading for a bull run, this is one of the hottest coins out there for any investor.
