Lelecoin (Lite Eco Ledger Elements Coin), a new cryptocurrency, is our subject today. This cryptocurrency has been created using a combination of both SHA256 and Curve 22519 technologies and its own blockchain. It uses a proof of stake system.
The cryptocurrency was created from a small team which consists mostly of developers from Southeastern Asia. Alva Mantiri is the founder and CEO of Lelecoin, Musa Saiful Islam is the COO, Ibrohim Kholilul Islam is the CTO, Zainul Mu'min is the CMO, Yonda Kasba is the CFO and Erik Hidayatullah is a web designer which works on the company.
The project started in March 2017 and the LELE token was created in August 2017. The Android wallet of Lelecoin was released in February 2018 and the development of the internal exchange of the company will begin in April.
Lelecoin LELE ICO Details
Lelecoins were sold during the ICO and the pre-ICO, which lasted from September to November 2017. If you hold Ignis tokens, you will still be able to participate in the airdrops made by the company during March 1 to 10. The airdrop rate will be 1 LELE token for each 10 IGNIS tokens.
Only 20% of the coins will be sold in the ICO and given in the airdrop, 70% of them will remain with the company to be used later. You will also be able to acquire the LELE tokens later on exchanges.
Lelecoin Lite Ego Ledger Elements Blockchain Platform
The Lelecoin platform is made over the Ardor blockchain. It features a scalable network and offers an eco-friendly option for mining called forging. Since proof of stake mechanisms do not require the amount of energy that proof of work does, Lelecoin is a green cryptocurrency.
There are two types of forging that can be made using Lelecoin: solo forging and pool forging. Forging is the generation of blocks with the transactions that are being made on the blockchain. Unlike traditional mining, it uses the power of the tokens to the process, so the “forgers” do not need to buy equipment like miners do and spend less electrical energy in this process.
The pool forging basically groups a certain number of people for the forging process and it divides the rewards between them. This enables these people to forge more even if they do not have many tokens.
Lelecoin has its own wallet. There are two versions of the Lelecoin wallet: the online browser version and an app which can be used on Android and iOS.
Lelecoin is another option of cryptocurrency that you can use if you want to diversify your cryptocurrency assets. It offers a green ecological solution for mining, uses proof of stake validation methods for transactions and will be sold in the cryptocurrency exchanges in the near future.