LightCoin Will Bring LightMining to Mobile Devices Near You

Time to look at some more coins, as it seems there is hardly anything worth of note about the coins we have covered before. LightCoin was suggested to me on Twitter, so let’s start off the day with exactly that!

Do not confuse LightCoin with LiteCoin, as they have absolutely nothing to do with each other. LightCoin uses the X11 Proof-of-Work algorithm , followed by a Proof-of-Stake switch once 10 million LIT have been mined.

Speaking of LightCoin’s Proof-of-Stake phase, users will earn stake interest at a rate of 2% per annum. You will start earning stake after a minimum of 12 hours after not moving your coins. There doesn’t seem to be a maximum coin age set. There will be an additional 10 million coins generated during Proof-of-Stake.

What interests me most about LightCoin is the fact they are looking at introducing lightmining. Not mining at the speed of light, but mining coins on mobile devices.  A Lightchain (mobile version of the blockchain) is also being looked at.

Speaking of mobile services, screenshots of the LightCoin Android Wallet have been posted. Keep in mind these screenshots are taken from a very early alpha build, and I would expect more functionalities to be added before we even see a beta release.

You can find the Lightcoin Android wallet Alpha screenshots here.

Some more LightCoin plans (for both the near and mid-term future) include finishing up the Android Wallet, anonymous transactions, a GUI Lightwallet, an iOS wallet, and Lightnodes Network. We will keep an eye out for any updates regarding these projects.

On the exchanges front, you can trade LightCoin at AllCoin , C-Cex and KingCoiny!

LightCoin technical specifications :

• Ticker: LIT

• Block time: 60 secs

• Stake interest: 2% annually

• Minimum stake age: 12 hours

• Premine: 0.8%

Proof-of-Work Stage

• Algorithm: X11

• Est PoW supply: 10 million

• Confirmations: 120 blocks to mature

• Block reward: 200 LIT to block 20000 and 20 LIT after block 20000

Proof-of-Stake Stage

• POS starts at block 20000 with 2% stake interest per year and 12 hours to mature

• Est pos mint: 10 million

LightCoin donations : LUfqvat9qCq46gzotfPVbiBS2Newfbxyor

You can find out more about LigthCoin by using the following sources :

LightCoin on BitcoinTalk : https://bitcointalk.org/index.php?topic=649890.0

LightCoin on Twitter : https://twitter.com/Lightcointweet