Review on LanaCoin by francis fernandez
LanaCoin- hybrid blockchain
In the crypto market, today we find a wide range of digital currencies, each with particular characteristics but with a common goal: to consolidate in the cryptoassets industry as the preferred currency of traders, investors, players and users in general e-commerce regulars.
Within this context, the cryptocurrency LANACoin (LANA) appeared on the market in May 2016.
This project did not have collective financing, since it came to light without the accompaniment of an ICO.
LANACoin emerges as a mixed open blockchain that combines proof of work with proof of stake using the sha256 hash algorithm. This can be generated using mining.
The LANACoin mining process is divided into two groups:
1.-The proof-of-work miners: They are in charge of securing the blockchain and their reward consists of obtaining freshly generated LANA. The last block of this reward was set at 750,000.
2.-The LANA community: Compete for participation blocks and get rewards for betting their LANAS. Both bettors and seekers in this group get a fixed amount of 1000 LANA in addition to a 7% annual participation reward. At block 525,600 this reward will be cut in half. The maximum quantity of supply of LANA was established in 7.05.2016, considering as reference the date of its birth.
Pros
- It is fully auditable since it handles open source.
- Offer good perks to your miners.
- It is a totally decentralized platform, since it does not have a regulatory entity.
Cons
- It still has many facets in development.
