- Posted February 13, 2014 by
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LOT Coin - A new crypto-coin to compete with bitcoins as online cryptocurrency
San Francisco, CA - On January 2014, the U.S. Department of Justice official describing Cryptocurrency as "a legal means of exchange." Many businesses around the world have since then started accepting cryptocurrency payments. The market is open as investors search for an alternative to traditional financial investing and the buzz continues to grow!
Since Cryptocurrencies began with the first launch in 2009 they have not looked back. Bitcoin was the first and the most popular but is far from the only one. Recent years have seen the growth of numerous Cryptocurrencies one of them being LOT Coin (LOT).
One of the fastest growing cryptocurrencies, LOT Coin is taking the lead for a number of reasons. With no fee to use and faster transaction time, many developers are choosing LOT Coin over bitcoins.
What Else About LOT Coin ?
The choice for winners, LOT Coin is a p2p crypto coin based on scrypt PoW, descendant of Litecoin, making it a great crypto coin for online. Creating random coins between 256 and 65536 (256*256) coins per block, it also generates random superblocks for minders to get a chance to find 1,048,576 coins for the block with a Semi Daily Block for 262,144 coins and an Hourly Block for 131,072 coins.
Bitcoins and other cryptocurrency have been rising in number and are being seen as a legitimate means of exchange online as the technology behind them develops. It is a fast, convenient, and discrete method for completing a transaction. A great alternative coin for sites, more and more companies are turning to LOT Coin for their platforms.
LOT Coin also has much shorter block times because it only has to go through 4 confirmations as opposed to the 6 confirmations required for Bitcoin and many other Cryptocurrencies, which means transactions, may take up to 15 minutes compared to 30 seconds required for LOT Coin; making LOT Coin one of the fastest Cryptocurrencies as of today.
LOT Coin retargets the difficulty with each block being mined as opposed to Bitcoin. This allows for controlled difficulty of the mining process and how many coins are being mined at each point in time, it also prevents strip mining which is essential to controlling the value of the coins.
Right now LOT Coin is taking the Cryptocurrency world by storm, with many developers are already adding LOT Coin to their projects along the side of bitcoins.
While new to the trading market, the coin looks like it will be changing the world of online payments. There are some whom may not believe it, but the flexibility and security of cryptocurrencies is where the future is headed. The new system is still figuring out its place online but cryptocurrencies are here to stay and right now they are hot for those who know the rewards of investing early.
Cryptocurrency Symbol: LOT