Have you known a way of making easy the ledger tools? This is about it. LELE is Lite Eco Ledger Elements. Our project are make more trade tools and develop improves features for Telegram user with LELE blockchain. LELE is an altcoin such as litecoin, peercoin, and many others. In the world where Bitcoin is king, altcoins only change parameters of the original Bitcoin code such as the hashing mechanism, the time between blocks, the starting difficulty, and so on. We developed our’s based on NXT source code. LELE develop anything as simple as can be even it’s not a simple coin. This scalable cryptocurrency offering a eco-friendly mining called forging. They will continue to developed features are outside the scope of regular altcoins.
LELE is Combo (PoS and Transparent Forging)
Proof-of-Stake and Transparent Forging form are a powerful combination with substantial benefits over all other methods of coin verifying transactions: The system is highly efficient and far less wasteful of resources. There is less incentive for centralised mining, as there is with PoW. Forging can be carried out by anyone, and on the most low-powered computers (such as Android devices or a Raspberry Pi). The currency is more stable, as there is no inflation. Coins are earned through transaction fees alone. Transactions can be both fast and secure.
Full Pure POS
LELE is the 100% Proof-of-Stake (PoS) currency. Consensus in a decentralized digital currency like Bitcoin is achieved by requiring generated blocks to contain a proof that the node which generated the block solved a computational hard task. Unfortunately the concept of the Proof-of-Work (PoW) based system tends to lean towards eventual selfdestruction. Proof-of-stake (PoS) aims to replace the way of achieving consensus in a distributed system; instead of solving the Proof-of-Work, transactions can be added to the blockchain or ‘forged’ by any member of the network. The node chosen to forge a block is random, but the odds of forging a block are proportional to their stake in the network (the number of coins they hold). The required amount of coins (also called target) is specified by the network through a difficulty adjustment process similar to PoW that ensures an approximate, constant block time. As in PoW, the block generation process will be rewarded through transaction fees and a supply model specified by the underlying protocol; which can also be seen as interest rate by common definition. Time between blocks is one minute. This increases the rate of orphaned blocks but makes it more convenient for the users. This simplifies and accelerates transaction processing.
Green Concept
LELE is “green” it’s protocol in power consumption, since 100% PoS mechanisms don’t require massive amounts of electricity power like POW mechanisms do. Many coins is based on Proof of Work where there are thousands of miners around the world crunching away at hashes and gobbling up TONS of power. Proof of Stake doesn’t like that, so it’s important to realize that sometime at anytime any POW coins will exist when all of it is mined, all LELE that will ever exist already exists, so client wallets now forge (in LELE the term ‘mining’ is replaced with ‘forging’) for transaction fees. Since this can be done on a client wallet loaded on a PC/PI/HP, it is MUCH more environmentally friendly and power efficient.
Scalable
LELE can scale high; this is possible with LELE because the transparency provided in the protocol will allow each user’s client to determine which node will generate the next block. Other nodes can then send their transactions directly to that node. This also allows additional fees to be realized for immediate, priority transactions
Forging (Solo Forging)
It is elegantly simple, block generations with their transaction fees are competed for proportionally to all active forging wallets based on the amount of LELE a wallet has. So if a wallet has 1 million LELE, then they have 1/1000 of a chance of forging any block and receiving any transaction fees in that block. The math here is 1 million (amount the client has) divided by 1 billion (total LELE in existence) is 1000, so that is 1/1000 of a chance. An even added bonus is that it is your LELE balance that forges for you, not ASICs that requires lots of power, maintenance, and that depreciates in value and processing power. Instead of buying equipment to mine with, you just buy LELE to forge for more LELE with.
Pool Forging
LELE implements a pool forging feature. Whenever u not have enough amount of LELE to do solo forging, or have not any device to do this, u still could join at pool forging as like as POW pool mining, just swap your LELE coins to FORGE Token as an option.
Transparent Forging
PoS is theoretically vulnerable to attacks, because anyone with a large enough stake can rewrite the blockchain for their own benefit. Transparent forging is an ingenious answer to this problem. Although the node which forges a block is random in the long term, in the immediate future it is highly predictable. This means the network knows where the next block should be forged. If a node does not forge the block it is expected to (perhaps because it is working to build a fraudulent chain instead), it is excluded from the network for a period of time. The likelihood of that node being chosen is instead redistributed across the remaining members of the network.
51% Attack Proof & Security
LELE utilizes a 100% proof of stake (PoS) mechanism versus the proof of work (PoW) mechanism. This effectively removes a security risk inherent in POW coins, as the issue of a 51% attack and other vulnerabilities inherent to PoW coins become non-issues. Moreover, Transparent Forging system eliminates not only the chance of a 51 percent attack, but anything up to a 90 percent attack. A security mechanism to prevent forked chains from being forged by high-stake nodes. This prevents against even a 90% majority owner of all LELE branching out and forcing a fork. LELE nodes has built-in functions to defend against DDOS attacks. All of this is an efficient, fast and elegant way to secure the network.
CONNECT WITH US
Telegram:https://t.me/LELE_COIN
ANN Bitcointalk: https://bitcointalk.org/index.php?topic=2939240.0
Facebook: https://www.facebook.com/LELEcoin1
Official Web:https://e-chain.id/
AUTHOR
Bitcointalk Username:waru
Bitcointalk URL:https://bitcointalk.org/index.php?action=profile;u=1232324
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