When LiteBar Coin is a crypto-currency , which on the Litecoin based and also a Fork of BITBAR block chain is. The Bitbar Blockchain also includes the Bitbar Gold Coin, which is to represent a digital gold currency. The LiteBar, however, is intended to represent an alternative investment in silver.
LiteBar Coin – how it works
The used blockchain is open-source. This means that everyone has the opportunity to examine the code and use it for its own blockchain. In addition, this procedure guarantees the highest level of transparency so that the community is always informed about developments in the code. Furthermore, a peer-to-peer network enables the decentralization of the blockchain. This prevents the intervention of institutions such as banks or governments in the development of the cryptocurrency. In addition, no manipulation or control can be exercised in this way. Mining uses a proof-of-work algorithm. This requires miners feed new computational power into the network to mine new tokens so that the resulting transactions can be hashed into blocks.
An important parameter here is the current difficulty, because this depends on the current computing power. The more miners are active, the higher the difficulty. In addition, the nonce must be smaller at a high difficulty, so that more computing power is needed for the calculation. Since the LiteBar Coin is intended to preserve value, the developers see in the proof of work principle the right approach. The LiteBar can be held by investors so that they benefit from the growth in value. Alternatively, however, trading with the token can also be operated. For this only a trading place must be found, which is suitable for the LiteBar trade .
LiteBar Coin – Difficulty
All transactions completed through LiteBar trading have a blocking time of 3 minutes. This means that every 3 minutes a new block is closed, which serves to verify the transactions. In addition, the block difficulty is adjusted after every completed block, so that it always notes at a fair level. A special feature of the cryptocurrency is the limitation of the available tokens to 1.35 million. This is to highlight the rarity of the token, because similar to silver has the LiteBar Coin finiteness in winning new tokens.
What is the current market capitalization of the LiteBar Coin?
The LiteBar token has been trading on the financial markets since March 12, 2014 under the symbol LTB. It was placed on the Mäkrten by an Initial Coin Offering, which was carried out at an issue price of $ 0.416728. This resulted in a market capitalization of $ 23,340. By the beginning of the year, market capitalization fell to a level of $ 6,300. However, then started a rally, which is unbroken to the current time. This results in a current market capitalization of $ 787,931, which is achieved through a token price of $ 0.963599. In addition, there are around 817,000 tokens in circulation. This will allow a trading volume of around $ 400 per day. This is in comparison to other cryptocurrencie slow, but also corresponds to the idea of the developer, because the token is to be understood primarily as an investment and less as a commodity. The daily trading volume is realized in particular by the exchange between LTB and BTC.
The post What is LiteBar Coin? appeared first on Technology Geeks | Gadgets | IoT | News.