Litecoin Plus (LCP) (informative article)

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Wed Jan 22, 2020 5:07 am

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At first glance, Litecoin Plus (LCP, https://litecoinplus.co/) is just another hybrid crypto currency with SCRYPT encryption algo, those with PoW and PoS working at the same time. It is however still completely true to tradition of a 1 tier network and does not use any checkpoint server (the checkpoint code is in it, but is not used). No masternodes. Its very low supply of 4 million coins makes it a potentially very rare asset. After installing the full node wallet and syncing it, you will notice a few subtle things. First of all, the boot time is extremely fast for a crypto with such a large number of blocks, compared to almost all other similar wallets. It’s quite acceptable even on older hardware. Secondly, the syncing happens really fast, with block accepting speeds of almost 10x compared to Litecoin wallets. If you start both wallets at the same time after 1 day of them being off, Litecoin Plus will often be ready and fully synced before Litecoin. The former has 4+ million blocks, compared to the only 700k of Litecoin. This is thanks to the many small optimizations in the code. The team has been able to keep using Berkeley DB and obtain performances similar or better than Level DB. The former is still much more stable and resilient during unpredictable computer crashes or sudden shutdowns, with many repair tools and functions.

Enough of the tech stuff, what Litecoin Plus does is all the basic functionality of any other wallet just a little bit better. Everything about it feels better when using it, there’s no lag when operating with the interface, everything feels smooth and user interface is clean and functional. The wallet Themes are a nice feature and can be fully customized, since they are written in CSS. The Dusting function is exceptionally helpful to de-fragment the blocks when PoS has been running for some time, compacting it back to less blocks. When the computer is being shutdown directly and the wallet is still running in background, the wallet performs a safe shutdown communicating with the operating system to hold the shutting down until is completed. This is definitely a development team that has user and safety at the top of its priority ! The range of wallets (Windows, Mac, Linux, Android) is completed by a fully functional Web Wallet (https://wallet.litecoinplus.co/), just 2-3 clicks away. Only a real email verification is required to start using it.

With the coming of the dedicated Exchange (https://lcp.exchange/) user will benefit the most, as Litecoin Plus will always have a place to be exchanged, regardless of who’s listing it. Such exchange is its small little reign, where it is the star of the show. Although initial pairs will be limited to LCP-BTC and LCP-LTC, according to the developers, almost all profits will be shared with the user, with an innovative method: “keep your Litecoin Plus deposited at the exchange, and share your part”. The exact formula is in the White Paper of the crypto, at https://litecoinplus.co/downloads/lcpwh ... 122-en.pdf. If you have a full running node that is exposed with a public IP address, your share of profit is even higher, because you are greatly sustaining the network as well. No words yet on when other pairs will be added or allowed to be added, or whether there will be a fee or not.

It is clear to me that Litecoin Plus is not your traditional “payment method replacement” crypto currency. With its extreme stable chain and excellent software, it is an “instrument of storage of wealth”. Its value is destined to sky rocket in the long term (rate at the time of this article is about 0.02 USD, consider that it did reach 10 USD in the past). The future is all out for the investor. The main developers already pledged to setup a non-profit corporation that owns the coin once the value has reached sufficient number (according to this page https://litecoinplus.co/news.html, 2 millions USD of market capitalization). With the introduction of PALADIN (see https://litecoinplus.co/downloads/51-chart-v1.20.jpg), it will be possible for the developers to watch over the network with minimum intervention on the code in the future, allowing the team and the staff to do even greater things to safeguard the investors. When you see what has been implemented now (stuff like pausing the blockchain, and implementing global sending function suspension) you can only be very curious about what this small but innovative team has in store for us !




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