Review on LoMoCoin by Benaiah A. Akinlade
LoMoCoin; The new crypto kid on the block
LoMoCoin is a new digital currency available in a mobile app that has been developed using blockchain technology. 1 billion LMC is proposed to be distributed in the next 24 months according to company officials.
The value of a cryptocurrency depends on the time consumed by a trader as well as his actual strength. It also depends on the cash remitted by shops that send Lomocoin to customers.
Some other factors that can determine the value of LMC are as follows :
1. The perspective of outside investors about what the value of LMC ecology is going to be in future.
2. Popularity of the app as created by continuous interaction between shops and players, and also among players.
3. The services and products offered by shops in the markets.
Methods of distribution and total quantity
It is believed that the cryptocurrency will be freely distributed in the LMC game. 60% or 600 million is expected to be distributed in two years.
150 million will be awarded to angel investors. It’ll be locked for 24 months and thereafter evenly unfrozen in eight seasons.
50 million will be used for promotional activities, creation of external ecology and 3rd party cooperation enticement.
The app is constantly updated to provide clients with more functions, diversified game modes, playing patterns as well as playing activities.
How to acquire LMC
You just need to log in and then get LoMoCoin using any of the following methods:
1. Ask friends to follow you while promising that the reward will be shared among yourselves.
2. User gift pack.
3. Become a team member and sharing the Mengdai.
4. Find the Mengdai and open it.
5. Daily attendance award.
Trading
Both private and public beta testing of the cryptocurrency have been conducted. Therefore, trading of LMC can be carried out at its trading platform.
How different is LoMoCoin from other digital currencies?
LMC is the product of LoMoCoin business model and is based on 020 as well as LBS.
LoMoCoin incorporates features of blockchain PeerCoin and Bitcoin. The features include limits on quantity, checking of open transactions, caveats on extra issues as well as blockchain general ledger.
User scale development is absolutely transparent, and this enables each user to continue generating income from sources such as POS interest.
Pros
- User scale development is absolutely transparent
Cons
- It is still new in the market and it’s not yet tested
