Review on LGCY Network by gregori cordova
a new blockchain with a consensus system oriented towards absolute decentralization
There are many differences between the currently existing blockchains, especially in their governance systems and in the effect it has on its users. The LGCY project promises to bring to the cryptographic environment levels of total decentralization, through the open source consensus protocol delegate proof of stake DPSO that will solve certain problems that arise in other consensus mechanisms such as excessive use of energy in POW, implementing a protocol called libertas to its government system, thus creating a full digital democracy, and where each token holder will be able to enjoy a balanced power throughout the network, and where the community will have total control of it. This blockchain will offer its users a well-equipped set of powerful tools to create successful dapps efficiently and easily called the lGCY suite, in which we find 4 features: LGCY box, LGCY web, LGCY grid, LGCY studio, which will help developers to create smart contracts and decentralized applications, providing powerful and easy-to-understand mechanisms. The project has some similarities to the tron blockchain, and in fact began as a fork of that blockchain, but they have added significant advances especially in its governance system and has a virtual machine that connects millions of developers in a highly scalable blockchain and efficient
The project has the ambition to become one of the most decentralized blockchains in the world, where the community is the one with absolute power, although it is ironic that to date most of the tokens are in control of the development team. But in general, it is a project that can become an alternative to current blockchains that present many flaws, especially in their scalability, if they manage to fulfill all the promises they offer in their whitepaper.
Pros
- LGCY will be able to handle more than 2,000 transactions per second which is a huge percentage compared to bitcoin and ethereum and this is thanks to its innovative DPOS system
- The cost of transactions is only $ 0.01
- Offers functionalities to create decentralized exchanges DEX
- It is a highly scalable blockchain
- Their cryptocurrency is listed on uniswap, an exchange that currently holds the world record for liquidity.
- They have already made significant progress on their roadmap.
- Users will be rewarded with Lfuel, (a kind of gas with which the platform works) for staking
- Being an open source platform, anyone can audit it and see its updates at any time
- They give a higher priority to the community, which will have total control of it and in which there is a balance between all its users
- They plan to offer a pre-staking option, in which there are 3 plans ranging from 3, 6 and 12 months in duration
Cons
- The project is still under development and does not have very good movements in terms of daily trading volumes
- Currently most of the tokens are in the control of their developers, which does not reflect a total decentralization as they claim to have
