One of the major challenges that are faced by several cryptocurrency outfits is the issue of transaction fees and speed of transactions within the network. The popular cryptocurrency in the space are not left behind as there is always a need for scalability due to network congestion and this has brought about the need for a better option.
Blockchain development has gone through several stages in the past. In the past decade, proof of work was the most widely used consensus mechanism in the cryptocurrency space. This consensus required the use of mining equipment
and consumed a high volume of electricity, it was economically wasteful and had to be jettisoned.
LARGO COIN ALGORITHM
Largo coin was designed with a modern algorithm which is the proof of stake consensus mechanism. The proof of stakes does not require the use of expensive equipment or electricity rather in this case cryptocurrency holder is chosen to validate blocks of transactions on a network based on the number of coins they have staked. Proof-of-Stake is a type of consensus mechanism in which users of a blockchain-based network are required to freeze some volumes of their coins to have a chance of being chosen to verifying transactions in a block. Proof-of-Stake Consensus algorithm also ensures security in the blockchain network.
ADVANTAGES OF LARGO PROOF OF STAKES ALGORITHM
Proof-of-Stake prevents fraudulent attempts to tamper the network security: every forger stakes their funds in the network, which makes it financially disadvantageous to perform a malicious activity during the process of validation for everyone involved.
Another core advantage of the Proof-of-Stake architecture is that it is efficient in terms of outside of network resources: contrary to the more common Proof-of-Work, PoS systems require no dedicated hardware such as miners for validation, which is both financially and energy-wise inexpensive.
Furthermore, the potential benefit of the PoS systems is that their architecture reduces the risks of a 51% attack: in a PoS system network, users are financially deterred from initiating 51% attacks since in order to do so they in the first place are required to stake their own volumes of the network digital currency and thus are expected to lose it in case of malicious activities.
EMISSION OF LARGO COIN
In line with Largo Coin Road Map Development Plan, the main features to enable the soonest mass adoption of the ecosystem will be released in the first year of launch; because of that, a significant volume (roughly 20%) of the emission of Largo Coins will be minted during that period. After the first year, the block rewards will be gradually reduced every year to compensate for the effects of inflation and to further increase the potential for market price growth of Largo Coin and to reduce the selling pressure on the exchanges. The total emission will be limited to 200,000,000 LRGs for the same purposes of ensuring ecosystem scalability in accordance with the stable price growth.
LARGO COIN DISTINGUISHING FACTORS
Low Processing Fees
Largo Coin has a significantly lower transaction fee due to its peer-to-peer architecture, which excludes the presence of multi-layer middle-men in the transferring process.
High Transaction Speed
Largo Coin transaction time has been shrunk down to mere seconds, thus enabling instant processing of payments.
Escrow Services
Largo Coin is an ultimate tool to use for providing and obtaining escrow services to ensure the safety of buyer and seller’s interactions within the Largo Coin Ecosystem.
LARGO COIN SPECIFICATION
PROJECT INFORMATION
WEBSITE - https://web.largocoin.io
ANN THREAD - https://bitcointalk.org/index.php?topic=5200762
TWITTER - https://twitter.com/largocoin
FACEBOOK - https://www.facebook.com/LargoCoinPublic
MEDIUM - https://medium.com/@largocoin
REDDIT - https://www.reddit.com/r/largocoin/
TELEGRAM - https://t.me/largocoin_chat
Username : Ozie94
Profile : https://bitcointalk.org/index.php?action=profile;u=2103066
LRG Address :
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