Review on LoMoCoin by Othere Obtentus
Dead for years now
LoMocoin (LMC) is the native cryptocurrency of LoMostar app and it is the decentralized framework for the LoMoStar ecosystem. LoMoCoin has it's own blockchain and the consensus mechanism is Proof of Stake.
LoMostar was built on LMC blockchain and was an interesting and innovative application back in the days that could be used for getting discounts from local shops and collecting cryptocurrencies on a map. Its own native currency, LMC and many other popular crypto like Ethereum and Bitcoin could be found lying around in red envelopes at different geographical locations on the map. These red envelopes would be dropped by any individual or organization and often contained an image and a short message. Anyone who opened the envelope would automatically join the owner's group.
LoMoStar integrated user's geographical position with its virtual environment and used cryptocurrencies to promote social relations between people and/or organizations.
The project was considered innovative and had the potential for great success but tragically ended up as a dead and inactive project. There has been no update on its roadmap since 2018 and LMC is currently dead in the market.
Pros
- It had a great potential in the beginning with its innovative features and vast social ecosystem
Cons
- The project has been dead for 3 years now
- It is deemed inactive by coinmarketcap and coingecko
- All social contacts of this platform is inactive for years
