Place/Date: London, UK - August 1st, 2016 at 9:04 pm UTC · 3 min read
Contact: Mihir Magudia, Source: Learning Enterprises Organization
LEOcoin, the cryptocurrency created by London-based LEOcoin Foundation has made an important change to its protocol to make it more robust and user-friendly. The organization reports successful migration from the previously used Proof of Work consensus protocol, similar to that of Bitcoin to a more efficient Proof of Stake consensus protocol.
The introduction of Proof of Stake algorithm makes it possible for everyone to get involved in the staking process, without having to invest in specialized equipment like ASICs or mining farms. Anyone who can operate a computer can now take part in the staking by opening their free to use LEOcoin wallet and clicking on a button. By eliminating the need for specialized equipment LEOcoin offers a greener alternative to Bitcoin, drastically reducing the carbon footprint for every newly created coin.
LEOcoin has also introduced a new rewarding structure for staking depending upon the number of coins (stake) held by each participant. Dan Andresson, the CEO and co-founder of LEOcoin offers a brief outline of the new rewards structure where those holding 1000 LEOcoins or more will receive about 10 percent returns per year, while those with 5000 and more will receive 15 percent and those with over 50000 will be receiving 20 percent returns on their stake each year.
LEOcoin Foundation, the not for profit organization behind creation and maintenance of LEOcoin has also few new products to add more value to the community. The latest products include My LEO Travel and LEOcoin Merchants. My LEO Travel is a travel and hotel booking platform where people can plan their trip and pay with LEOcoin alongside other payment options.LEOcoin Merchants allows merchants and businesses to accept LEOcoin in payment for the goods and services.
LEOcoin is a digital currency created last year by the LEOcoin Foundation for entrepreneurs and businesses. The digital currency allows individuals to make fast and secure transactions over a decentralized peer-to-peer network. Like Bitcoin, LEOcoin offers a certain degree of anonymity and it is simple and easy to use. The Proof of Stake algorithm used in LEOcoin also ensures active community participation, further strengthening the network every passing day.
LEOcoin has been appreciated by various diplomats and bureaucrats from across the world. They have also extended their support to the digital currency ecosystem created by LEOcoin. The founders of LEOcoin have participated in various international events and gatherings, rubbing shoulders with powerful people from governments who are striving to promote entrepreneurship and businesses in their home countries and outside alike. Recently, LEOcoin was endorsed by the Chinese Ambassador to the United Kingdom among others in an event which saw diplomats from over 20 countries in attendance.
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. It is supported by a large community of established and aspiring entrepreneurs who are actively involved in building the LEOcoin community and increasing its adoption across the world.
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Disclaimer: The LEOcoin community is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.