Proof of stake digital currency that provides utility products for daily life situations, Linda Coin has moved to remove proof of work mechanism entirely from its network. This change of mechanism has come under reasons relating to security and long term sustainability of the project. They have now introduced an entire proof of stake based structure, different to how they began with a hybrid version of both proof of stake and work.
These changes in formation were reported by Linda Project Director of Support and Solutions, Justin Tether, who was speaking to BlockPublisher. He said:
We started as a POS/POW hybrid and have since removed PoW entirely from our network, both for security and longevity reasons.
Justin moved on to discuss how the platform have been facing a high rate of interest of late and have changed a few things around, which has included a few tweaks in the PoS mechanism and master node rewards. This has been backed by prospect to improve the project’s environment overall while also catering to provision of long term development and progress. He told:
We used to have a “high ROI” but we’ve been tweaking our PoS and MN (master node) rewards heavily in the aim to stop inflation and provide a much healthier environment for long term development growth.
Linda Coin is an everyday utility that even offers opportunities to interact with other cryptocurrency. Its unique services include decentralized payment options owing to its mobile and web wallet system, a lightning fast transaction network and stealth transactions to send encrypted transaction versions over regular blockchain to provide more anonymity and security. It main products include MyStakingWallet, MyNodePool and LindaX while new products are a headline on next year’s road map.
Justin Tether is the support and solutions director at Linda Project and he was speaking exclusively to BlockPublisher about the Linda Project which will be revealed in a series of posts.