Following Bitcoin Gold, Bitcoin Diamond and Super Bitcoin, yet Another forked-coin Lightning Bitcoin is Arriving on the Road. Initiated by a European group, Lightning, the job will grow to be the primary forked-coin that adopts the DPOS consensus mechanics.
Why lightning? The group intends to create Bitcoin transfers as quickly as lightning or in no more than 24 million trades every day. How can this happen?
The POW mechanism has long been discussed as the reason for mining centralization and system congestion. Daniel Larimer, writer of Delegated Proof-of-Stake Whitepaper clarified that miner tycoons control block period to make the most of their interests, which will finally together with all POW systems be controlled by the fiat system. Therefore, the Lightning team uses DPOS mechanism which provides voting rights to nominal holders to prevent constraint of the machine by any celebration. Based on its official site,
The DPOS consensus will significantly reduce the number of participating verification nodes and help LBTC reach consensus in seconds and boost the transaction speed to really be as FAST as lightning.
Who is Behind the Project?
The job has not shown its development group now, but for the Chinese community leader “Jack Zhang”. But on its site, we can observe that they already got support from exchanges CEX.io, BTCC, gate.io and Coldlar wallet.
The Initial Coin Offering Craze
Since Bitcoin Cash came out, First Fork Offerings are becoming a cool way for brand new blockchain projects to get financing. Today We’ve seen the achievement of Bitcoin Gold(BTG) and Bitcoin Diamond(BCD). Despite worries about its safety issues, BTG rankings in the top 5 to the economy cap. Along with the newcomer, BCD was recorded at more than 30 trades globally. With these powerful examples, there’ll be many more jobs bearing the title of Bitcoin to conserve list and advertising charges.