Review on LanaCoin by Temitope Babatunde
Personalized Coin With A Specific Usage
LanaCoin was launched in 2016 and is one of the first personalized coin to be created. The real essence of this coin is to be use as birthday gift. Not much can be said about the team behind this project and no specifically designed roadmap.
The coin is using both POW and POS with sha256 as hashing algorithm. The miners are being rewarded with Lana when a block is found while the members of the community who stake their wallet are also being rewarded with lana for staking their coin. The reward for staking is 1000 lana with additional 7percent annual reward.
As per the market structure of the coin, it is capped at 7.506B and is being traded on the Yobit exchange and coingecko registered it as well. Presently the price is 0.00005052 dollars.
With much development and more marketing strategies from the team, more will be known about this coin.
Pros
- It has both power of work and power of stake algorithm.
- In approximately each five years, the POS will be halving, and this will give more value to the coin.
- No ICO for the coin, which means no investor can say he lost his invesment in the coin.
- It has communities in various social medias.
- No divulge of personal information before one can use the platform, in essence, it does not required KYC.
- It has open and permissionless public ledger, so anyone can easily acessed it.
Cons
- since it is a personalized coin, people will not want to put so much trust on it.
- Little can be said about the team.
- The website need improvement.
New products
Comments (1)
September 10, 2020
In my opinion this project takes the crypto world into another level. Though Lanacoin project is a birth day gift, over the time it has proof that it has come to stay. In my opinion the project still need to be improved on.
