REVIEW LOCALCOIN LLC DECENTRALIZED EXCHANGE PLATFORM

What is a decentralized blockchain system?

A decentralized blockchain system is one which requires multiple parties to make their own independent decisions. In such a decentralized system, there is no single centralized authority that makes decisions on behalf of all the parties. Decentralization describes the design of a network that isn’t managed by a central party. Instead, peer-to-peer interaction drives the network, as no third party is needed!

Why is decentralization necessary?

Decentralization avoids the abuse of power from central authorities. However, this comes at the cost of every participant taking on some responsibility themselves. Decentralization creates a reliable administration and improves local development, better ensures the rights of the participants, and better protect crypto enthusiasts into the community.

What Is LocalCoin??

LocalCoin was designed to provide a full-service platform to launch a decentralized bank, decentralized trading, social networks and prediction markets through its unique offering. The key feature of LocalCoin is that it has brought decentralization to a new level; our platform is not only decentralized at a technical level but also with surefire strategy. To achieve this, LocalCoin allows users to freely set their own smart contracts and exchange digital assets on their terms in an open source, secure, fast and truly decentralized process directly on the blockchain. Our goal is not to compete with other exchanges, but rather to start from where their offerings end.

How Local Coin Different From Others?

LocalCoin is owned and run by everyone. We built a decentralized community and technologies that enable you to build a trustworthy reputation on your online journey. Besides meeting the ideological criteria for a decentralized exchange, LocalCoin is user friendly, democratic and rewarding. Efficient and Speedy decentralized transaction processing

We utilize three types of transactions within the platform:

Local transaction between different accounts of the same cryptocurrency
Same protocol-based transaction created off the same protocol but between different currencies.
Cross-chain transactions of different coins with different protocol

Multi-Purpose Super Wallet

LocalCoin utilize a super wallet that supports asset management, self-service transactions, payment, secure chat, social media and more.

User Experience

Few things are more critical for widespread adoption than a successful user experience. As mentioned earlier, an attractive and usable UI (User Interface) is often overlooked by the majority of blockchain technology projects. In recognizing this, LocalCoin has entrusted its frontend design to one of the best design company in the industry. Traders will be able to use and experience a great, intuitive UI.

Democracy

A decentralized system must be responsive to the needs of a decentralized community without surrendering the ideals of decentralization. To achieve this, LocalCoin uses a decentralized governance voting system.

Network growth through rewards

While many U.S. consumers are shopping with their mobile phones1, few make mobile payments. Deloitte’s “2016 Holiday Survey” found that only one in four mobile phone users make mobile payments using a retailer app, and even fewer (13 percent) use mobile wallets for in-store payments. However, according to Points’ “State of Mobile Wallet Loyalty and Engagement in 2016” study, 94 percent of consumers would use mobile wallets more frequently if they could earn and redeem loyalty. Depending on their personal lifestyles and preferences, consumers participate in a variety of loyalty programs offered by coffee shops, supermarkets, drug stores, hotels, airlines, and other retailers. One study suggests that 72 percent of consumers participate in between one and five loyalty programs. With multiple memberships, it can be difficult for customers to keep track of the various rewards points, remember to bring membership cards and coupons to the stores, or even recall that they are members of a particular loyalty program. To help consumers manage their loyalty accounts more easily and boost customer engagement, retailers are increasingly offering mobile apps with the ability to track and redeem points, make mobile payments, receive location-based offers, and provide added convenience and utility. Other features include the ability to add multiple retailers’ loyalty cards and keep track of several rewards programs in one place. LocalCoin has an advanced referral program built directly into its software. Financial networks derive their value primarily from their network effect: more people on the same network increases the value of that network for everyone. LocalCoin capitalizes on this by rewarding those who sign up new users, and does so in a fully transparent and automated way.

What does our token (LLC) stand for?

Our token serves as reward for users who decide to invest early on a project before acceptance into the community. These pre-investments can only be made with our LocalCoin token. Therefore, LocalCoin tokens are necessary to later get 25% more tokens on the pre investments of ICOs made via our platforms. If the project goes live, the user can invest with other different tokens.

LOCALCOIN BUSINESS CASE

We will begin with ecosystem creation after the token sale, due to the unique regulatory framework to be implemented. The platform will grow through by providing greater transparency and simplicity to the market and delivering value unavailable today, due to market inefficiencies. With focus on growth, it is paramount to create the best experience for the LocalCoin platform user. The LocalCoin team is engaging qualified project developers in the field, developing market price based projects with a professional team to be expanded upon entering new markets. We have secured our first Investors who are testing out the BETA platform. LocalCoin continues working on increasing the platform’s project pipeline and more partnerships will be announced after the token sale

Master Node Mining Functionality
LocalCoin incorporate a masternode mining functionality on its platform. Masternode is simply a computer wallet that keeps the full copy of the blockchain in real-time. In return, the Masternode will receive crypto coins as a reward. They are different because they perform many other tasks apart from just keeping the full blockchain and relaying transactions. In this case, everyone can mine LLC by running a Masternode to support the network.
Masternodes performs tasks such as

Doing instant transaction
Participating in voting and governance
Enhancing privacy of transaction
Enable treasury system and budgeting

POS blockchain are underpinned by Masternodes. These computers process transactions on the blockchain and rewarded with coins from the blocks being created. In a queuing system, nodes sit on the blockchain, and when they reach a certain position in this queue, they can be selected, at random, to be rewarded for participating within the network.

TOKEN INFO