Review on LGCY Network by Temitope Babatunde
LGCY Power To The Community.
LGCY network is a blockchain project running on the Libertas Protocol, the source code is open to public to verify. The project start as a fork of Tron and it is somehow retain the charasteristics of tron but the major difference is in it's governance. The LGCY network has LGCY as it's token and has Lfuel as the gas which will be distributed to the community and the LGCY holders.
The project is unique because the team believe that in order for a coin to be truely decentralized the community must be the one governing it and not the team, that is why in their roadmap they have stated how the project will be gradually handed to the community. The 27 Super Represntatives was grouped into 3 branches so that no matter the amont of tokens that someone has the person will not be able to be in total control of the project.
The chain can handle 2000 transactions per second, while the cost of transacting is just 0.01 dollar, it is also scalable. The coin has a burning program, with that the amount in circulation will be reducing gradually, thereby giving the needed value to the coin. The token is being traded on uniswap and airswap.
Since it is truely a decentralized project, it is a project in which one can put it's confidence.
Pros
- The governance is by the community.
- Non of of the super representative will have the power to be in total control of the network, so that the system will be truely decentralized.
- It has a very high transactions per second.
- The cost of transaction in the network is very low.
- It is highly scalable.
- It is useful for the developers because they can build their application on it.
- The code is an open source than can be view on Github.
Cons
- The team must work very well to realized all their stated objective.
- It is not a popular project, so it need more publicity.
