Place/Date: UK - August 17th, 2016 at 9:34 pm UTC · 4 min read
LEOcoin has been constantly gaining the attention of entrepreneurs, governments and private enterprises across the world. The digital currency is empowering individuals and businesses by offering them a fast and secure mode of transaction. LEOcoin and its accompanying infrastructure is being developed by The LEOcoin Foundation and allows merchants to make use of the digital currency for their day-to-day business.
Unlike most of the altcoins out there, LEOcoin has achieved a great deal of success in a very short span of time. LEOcoin was created in June 2014, but the digital currency started gaining widespread media attention after The LEOcoin Foundation launched the first dedicated digital currency exchange – LEOxChange. Very recently, LEOcoinmerchants.com launched as a site to provide a directory of LEOcoin merchants. As The LEOcoin Foundation pushes forward to create a diverse digital currency ecosystem, the Foundation has recently released a white paper explaining the vision for the future of digital currency.
The recently issued LEOcoin White Paper offers a brief background of the digital currency followed by the platform’s future roadmap for technical improvements and increased adoption. At a time when the global economy is registering a steady decline, digital currency assets like LEOcoin offers a monetary alternative whose value doesn’t diminish the same way as fiat currencies.
LEOcoin is in a constant learning process, where the digital currency learns from Bitcoin’s journey and implements necessary changes to overcome similar challenges. This process has recently resulted in LEOcoin’s shift from a mixed Proof of Work (PoW) / Proof of Stake (PoS) consensus protocol (PoS), to a sole PoS mechanism. By doing so, LEOcoin has made the whole coin creation process of mining/staking LEOcoin more energy and cost efficient. Anyone with a computer and a wallet containing over 1,000 LEOcoin can now mint the digital currency by staking at virtually no extra cost and without the requirement of powerful ASIC miners.
The total number of LEOcoin that will be created is fixed at 1 billion over next 100 years. The definite number combined with the proof of stake algorithm makes the digital currency more robust while ensuring long-term stability. Some of the other advantages of LEOcoin for users include privacy, transparency, absolute control over accounts, security and accessibility.
Merchants are wary of the transaction fees which eat into their profits. But like most digital currencies, LEOcoin offers them a cost-effective solution where merchants can accept LEOcoin from their customers without having to worry about the transaction costs. The same also applies for peer-to-peer transaction amongst LEOcoin holders. The addition of LEOcoin Merchant and the myLEOtravel platform offer new ways to spend and pay with LEOcoin. Merchants receive free promotion from LEOcoin in the form of regular communication sent out to the LEOcoin community about new merchants and services.
The LEOcoin Foundation has also approached the regulatory bodies in the United States and is an Executive Member of the Digital Chamber of Commerce. In the United Kingdom the Foundation engages in the discussion regarding digital currency regulations. The LEOcoin Foundation is actively involved in developing the digital currency community by engaging with its members, miners, exchanges and regulatory bodies. It is also the entity responsible for funding the development of the LEOcoin infrastructure. These actions will not only benefit LEOcoin but is aimed at the whole digital currency ecosystem.
LEOcoin is a digital currency 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, at not for profit Community Interest Company based in the United Kingdom. It is supported by a large community of established and aspiring entrepreneurs, miners, investors and exchanges who are actively involved in building the LEOcoin community and increasing its adoption across the world.
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