LELE initially was an Indonesian-based society of traders and dealers in altcoin (IACTC). The society focuses more on the advancement of cryptocurrency, and every aspects of digital-money programs. The society sees cryptocurrency beyond its ability as a trading coin but also plans to utilise its potentials by using more features to enhance it.
The full meaning of LELE is 'Lite Eco Ledger Elements.' The company carries out projects which will build additional devices that will boost the functions for traders who operate blockchain and Telegram. LELE deals in all forms of altcoins like peercoin, litecoin and many more. Undoubtedly, Bitcoin is leading the world of cryptocurrencies, and the use of altcoins just transforms the specifications of the authentic codes of Bitcoin, like the method of hashing, challenges at the initial stage, intervals between each block, and many more. LELE produced its own system hinged on 'NXTsource code'.
LELE Runs a Combination of Proof of Stake (PoS) and Transparent Forging
PoS and Transparent Forging systems are strong amalgamation, equipped with tangible advantages above every other systems of coin authenticating tradings.
Features
- Very reliable and organized,
- It saves resources.
- It reduces remunerations for authorised mining, such as the one found in PoW.
- Forging is easy to learn even by a layman and simple devices like Android or Raspberry can do the job.
- There is stability in the flow of coins because of absence of inflation. You can only make funds through the charges on your transactions.
- Tradings are speedy and safe.
100% PoS
Since Proof-of-Work (PoW) doesn't last long in the system, LELE adopts the use of coins which is 100% Proof-of-Stake (PoS).
LELE Goes Green
Unlike PoW that needs high rate of energy consumption, LELE uses "green" method with complete, undiluted 100% PoS system which reduces power consumption.
Most miners worldwide make use of PoW and through their activities, millions of power quantities are being devoured on daily basis, putting strain on their countries' economies.
Flexible
LELE has the ability to adapt and expand greatly, because of the fairness in the processes of transactions which will give clients for each user to decide the type of node that can produce the following block, after which other clients can proceed with their trading while in direct contact with that particular node.
Solo Forging
The multiplication of blocks from their trading charges can be contested for in correspondence to every mining wallets that are functional, and this depends on the quantity of LELE coins in a user's wallet. This means that your LELE coins does the mining without the help from ASICs, which is highly demanding in terms of energy, sustenance, and reductions in values. So your LELE money will be at your service to forge more coins for you.
Enjoy Pool Forging
Users who do not have sufficient funds for lone mining or a supporting devices can join pool by switching to Tokens for Forge from their LELE money.
Transparent Forging
Transparent Forging is an innovation that combats hacking, alterations and rewriting of blockchain by big stakeholders who might want to get greedy at one point or another.
High Security Against Invasion and Theft
LELE makes use of PoS system which is 51% safer than PoW system.
Maximum Airdrop
Maximum Airdrop which will be allowed to circulate within the community at the rate of ICO is 300 million, while 700 million will be LRP of 10% profit to forgers.
Coins at No Costs for Users
Being in possession of IGNIS coin will fetch you 10 IGNIS at no cost.
What You Must Have Before Starting Green Mining ?
A rig for mining Bitcoins, altcoins and other categories of PoW is necessary. The least capital for the smallest type of rig setup costs around $1.125, not mentioning the costs of electrical fittings, installations and maintenance.
As A Forger, You Get to Claim 70 Percent of Every Supply for Yourself
LELE plans to launch first of its kind system called 'Lock-in and Release at Price-up (LRP). The function of the system is to bring together the intricacies in supply and demand, until every single supply has been successfully mined. LRP is good for lessening the burden of extreme volatility common with cryptocurrencies.
Brief summary of LRP
The inflation in prices will encourage more forgers to join the community.
Every time the cost increases, the supply of lock-in will produce 0,1%, which is 10% of the cost for ICO, then price stability will follow.
When this happens, the funds from lock-in worth 70% will go to the miner, which is fee compensation from LRP-bot.
Afterwards, the remaining 30% will be distributed in the following formula;
- Research Allocation (10%),
- Empowerment for Education (10%),
- Re-Charged LRP (10%).
The cycle will be repeated until every funds that are locked-in are let loose.
LRP calculations- 70% / 0,1% = 700% increased price.
Rules for LRP and Harmonization;
- Setup and reboot of LRP-bot will be prepared by inflation and deflation. The foundation for setup and reboot will be 10%.
- The 0,1% generated from lock-in will be dropping slowly for one full year, after which it will be released as a compensation per 5 minutes, but it will halt its progression and reboot when deflation occurs.
- The general price set out every 1 second per hour will be considered.
- Quantity of permitted LRP per period/schedule;
1 Day- 1 LRP max..
1 week- 3 LRP aggregates.
1 Month- 7 LRP aggregates.
1 year- 50 LRP aggregates.
- There will be annual Halving of LRP such as the ones found in PoWs.
You can get more information on the Lele Coin Announcement Thread Here: https://bitcointalk.org/index.php?topic=2939240.0
You can also visit our website and read more here: https://e-chain.id/
Click Here to download our whitepaper: https://e-chain.id/wp-content/uploads/2018/02/Lelecoin-Whitepaper-EN.pdf
Meet the lele team here: https://e-chain.id/#team1212
Author’s Profile: https://bitcointalk.org/index.php?action=profile;u=1825008
Author’s Lele Wallet Address: LELE-UV7E-TC9M-2HAV-9QKJP
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