The advent of Blockchain technology has really changed how financial transactions and digital investments are carried out. Blockchain technology has fully changed how we go about financial transactions all over the world. The first utilization of blockchain technology was in 2008 when a certain Satoshi Nakamoto created the first cryptocurrency Bitcoin, and blockchain technology acted as its decentralized public ledger. Now blockchain technology and cryptocurrencies, in general, have become widely known especially as an investment asset.
After bitcoin, thousands of other cryptocurrencies have been created. Each of these cryptocurrencies referred to as altcoins have their own features that make them special. Blockchain created cryptocurrencies like Litecoin and Ethereum have even become major players in the cryptocurrency sector. The great thing about cryptocurrencies is the decentralized nature. We are in a new age, a digital age. An era where financial transactions has to be quick, efficient, transparent, secure and most times anonymous.
The current centralized world financial framework can’t support the new generation needs, that is why blockchain technology will even get more popular. Hundreds of cryptocurrencies have been leading the charge as the best resort when it comes to handling financial transactions, but recently with the launch of a new kind of cryptocurrency; Lioncoin, it seems there is a new sheriff in town. Touted as the 6th generation cryptocurrency and launched June 2017, this cryptocurrency asset surely possesses the feature that will eventually position it as an industry leader in the cryptocurrency sector.
Lioncoin is surely the face of new generation cryptocurrencies, with a new model hybrid transaction verification and mining system, which combines the POW+ TPOS+ POSL consensus technology. Lionchain also features one of the newest kind of mixed blockchain technology, the most advanced smart contract mechanism yet, LNCAI. This smart contract system works based on a peer to peer protocol, in addition to a stunningly intelligent contract open protocol cycle system. This smart contract technology can achieve a lot of complicated interactive operation like the registration of transactions, confirmation, exchange, transformation, exchange, betting, and even circulation of digital assets.
Lioncoin utilizes different layers to achieve maximum efficiency in its operations. These are the application layer, contract layer, logic layer, data layer, and security layer. The application layer presents a user-friendly interface to the cryptocurrency user, which makes it easier for the user to manage their assets. The contract layer utilizes the joint contracts to issue and manage assets in the blockchain system.
The logic layer is the programming mumbo jumbo that actually makes the whole system work, the data layer is the makes use of the power of decentralized transaction and storage to store data relating to asset transactions. The security layer uses military-grade defense algorithm to secure user assets, and keep them secure from online criminals who at first didn’t stand a chance against a decentralized storage system, but with this military-grade encryption algorithm, the security of your asset is 101% assured.
These new generation innovations to the blockchain technology responsible for the creation of blockchain technology positions Lionchain as the face of new generation cryptocurrencies.