LGCY Network

LGCY Network

LGCY
$0.000000817%0.38

Key Metrics

Price$0.000000817
Real Volume (24H)$955.78
Marketcap$10,392.04
Fully Diluted ValuationN/A
ATH$0.02085432
ATH Date9/14/2021, 3:58:54 PM
ATL$0.00012358
ATL Date11/8/2020, 4:20:47 AM
Circulating Supply12B
Total Supply100B
WebsiteN/A
WhitepaperN/A
Popularity Rank4297
Chart
What is LGCY Network?

The LGCY Network (LGCY) is a decentralized blockchain network designed to support DApps, and its aim is to ensure equal voting governance rights for all token holders, regardless of their holdings. To achieve this, the network employs the Libertas protocol, which divides the 27 Governing Bodies (GB) into three branches with limited power. This ensures that no single token holder can have an imbalanced amount of power, giving everyone an equal voice.

The LGCY Network uses the delegated proof-of-stake (DPoS) consensus mechanism to protect the blockchain by ensuring transaction representation within it. However, this mechanism has its own challenges since the voting strength is determined by the number of voters and the tokens they hold. The LGCY Network resolves this issue by implementing the Libertas protocol, allowing smaller token holders to participate and ensuring digital democracy is in action.

LGCY is the native token of the LGCY Network, while USDL is the gas or transaction fee token. The network plans to use USDL as a gas token instead of bandwidth and energy, with 1 USDL being equivalent to $1 in transaction/server fees. Additionally, USDL is a stablecoin, providing a safe, stable reward for token holders who stake LGCY or run nodes with them, rather than a volatile one.

The LGCY Network was founded in August 2021 by Justin Wai'Au and Wes Wade, who serve as co-founders and project manager and team leader, respectively. The team also includes Abhilasha Singh and Vinod Kumar as lead developers, Craig Mackie as marketing and business developer, among others. The LGCY Network has a maximum total supply of 21 billion LGCY tokens.

In conclusion, the LGCY Network is an innovative blockchain network that aims to provide equal voting governance rights to all token holders, regardless of their holdings. Its unique use of the Libertas protocol and USDL stablecoin sets it apart from other blockchain networks, making it a promising platform for DApps and other blockchain-based solutions.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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