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What Is LEOcoin (LC4)?

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by Oluwapelumi Adejumo · 5 min read
What Is LEOcoin (LC4)?
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Providing innovative new facilities to increase privacy and security, LEOcoin is now in a league of its own, being a better alternative as it comes with lots of benefits for your business. Here, we explain how it sets the standard for the future of digital currency.

LEOcoin (LC4) is a digital currency, the first of its kind that launched in the United Kingdom. LEOcoin is a big idea, designed to be a world currency and the currency of choice for entrepreneurs and small businesses. It allows individuals to engage with small businesses to experience fast, secure, and cost-effective transactions through a decentralized peer-to-peer (P2P) network. Besides, LEOcoin explores the principles of digital currency and the potentials, such as security, privacy, and flexibility, that LEOcoin offers to businesses and consumers. The protocol combines development skills, international infrastructure, real-world entrepreneurial know-how, a global network and user base, and a global vision in its identity to create a second-to-none growth platform.

LEOcoin enables inclusiveness in a private and legitimate finance circle, where personal information is not needed. It has gained the trust of its users, having provided them with impeccable digital financial services. LEOcoin’s users have co-existed since the developmental stages of the coin. Therefore, it has ready consumers, merchants, and traders for its LEOxChange.

LEOcoin as Bitcoin’s Rival

LEOcoin is a digital currency like Bitcoin (BTC), which is the flagship crypto asset today. There are speculations that LEOcoin might be turning to the currency of the world. This is because of the trust that resulted from users’ satisfaction with LEOcoin’s digital services. LEOcoin is secure as it keeps personal and trading information safe with a high-level encryption system. Transparent usage, detailed information about every completed trades, bid, price, and quantity are visible on an online ledger. LEOcoin transactions are instant without intermediaries. It happens directly within LEOxChange members. Interestingly, there no transaction fee features of LEOcoin, unlike in Bitcoin that has a high transaction fee, which is unaffordable for small businesses.

Bitcoin is flawed by few things that LEOcoin is already building and improving. These are the excessive processing energy consumption and manipulation of the ASIC computer chip driving the technology. As a result, there is the need to resolve it, which is where LEOcoin challenges Bitcoin’s flaw.

LEOcoin alternated to the Proof-of-Stake (PoS) model to reduce excessive processing energy consumption, reward LEOcoin users based on the number of LEOcoins they hold and stake, instead of the usual Proof-of-Work method that benefits only the investors.  However, LEOcoin had also used hashing algorithm (Sycrypt-Jane), a Proof-of-Work method before.

History and Launch of LEOcoin

LEOcoin is a cryptocurrency conceptualized by the well-known UK-based entrepreneurial skills training company Learning Enterprises Organization. LEOcoin is a decentralized, easy to use peer to peer digital currency maintained by LEOcoin Foundation. Dan Andersson is LEOcoin Founder and Chairman of the LEOcoin Foundation. LEOcoin protocol launched in 2014.  Since then, it has gained support from a large community of established and aspiring entrepreneurs who are actively involved in building the LEOcoin community and increasing its adoption across the world.

The objectives of LEOcoins are to support and enlighten people willing to know more about digital currency, organize events about digital currency, commission research to explain digital currency and blockchain technology. They also include funding new software developments that will help trade bitcoin and expand the community of people who know and use digital currency.

LEOcoin’s Functioning

A mathematical computer-based process called mining generates LC4 coins. Mining is a complex mathematical problem solved by a computer executing difficult number-crunching tasks. LEOcoin was designed using the latest technology and techniques in cryptocurrency, a blockchain. Its design is suitable for entrepreneurial and private use.

LEOcoin (LC4) provides consumers and merchants with the following benefits:

  • Privacy. Making and finalizing payments with LEOcoin takes place without any personal information tied to any transactions. Due to this privacy of personal data, there is greater protection against identity theft.
  • Transparency. As a blockchain technology, completed transaction histories are available for everyone to see while personal information is hidden.
  • Control. Accounts holding fiat currency can be requisitioned or frozen completely by a host of authorities, often through no customer’s fault. Since digital currencies exist outside the traditional regulatory frameworks that allow this to happen, it is scarce for a holder to be unable to access their coins unless the illegal activity is proven to have taken place.
  • Security. LEOcoin’s Proof of Stake (PoS) model reduces the risk of selfish miner flaw and attacks unlike the usual PoW that BTC is better known for. This means everyone within the community has a stake.

LEOcoin (LC4) Token

Leocoin (LC4) is a token operating on the Ethereum platform. The supply of LEOcoin stands at over 1 billion, with its circulation above 9 billion. The LEOcoin can be stake and earn a reward.

Conclusion

Providing innovative new facilities to increase privacy and security, LEOcoin is now in a league of its own, setting the standard for the future of digital currency. It is a better alternative as it comes with lots of benefits for your business. Described as ‘the entrepreneur’s cryptocurrency of choice’, LEOcoin embodies innovation and has never stood still, with this latest upgrade following the implementation of many great features.

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FAQ

What is LEOcoin?

LEOcoin is a digital currency. It is the first of its kind to be launched in the United Kingdom. LEOcoin is a big idea, designed to be a world currency and the currency of choice for entrepreneurs and small businesses.

Who and when founded LEOcoin?

The LEOcoin was launched in April 2015 by Dan Andersson and Atif Kamaran through an Oxfordshire-based company, the Learning Enterprise Organization.

How does LEOcoin function?

It functions using the Proof-of-Stake model, enabling everyone with the LEOcoin community to benefit.

What is special about LEOcoin?

The LEOcoin is designed for small businesses, entrepreneurs, and private individuals. Its transaction fee is zero.

How many LC4 tokens are there in circulation?

There are over 9 billion LEOcoin in circulation.

How to get LC4?

You can buy, sell or trade LEOcoin (LEO) on CCEX, Crystopia, LiveCoin, NovaExchange, and many others.

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