Like Bitcoin, Lindacoin is a peer-to-peer digital currency. By creating utility products it enables itself to be used in everyday scenarios. Lindacoin offers the Linda platform that allows users to generate dApps and also offers a broad range of facilities starting with its own token. What makes it stand out, however, is its unique feature of masternode, that allows the users to contribute to Linda’s own blockchain. Linda also addresses to the common issue of security and anonymity while making transactions; it offers a great deal of security for payments.
Just like any other cryptocurrency, Linda is primarily made to make digital payments, carry out transactions without having to trust a middleman. Another of Linda’s major application is the development of different programs on Linda’s blockchain, which can be used to make different processes smoother and quicker, especially business operations. Moreover, the Linda X platform allows target market to not just generate their own tokens but the platform also mentors the users in their journey of making a token.
Linda’s Specialty – the Masternode
In its whitepaper, Lindacoin describes the masternode as: “a masternode is simply a Linda full node or a computer wallet that stores the complete copy of the blockchain in real time.” By performing all of the instant and the private transactions, these masternodes make up the “heart” of Lindacoin’s blockchain. It is the set of masternodes that sort out and manage peers on the Linda coin’s blockchain, and anyone can set up a masternode. Linda provides its users with the TurnKey option in its newest mobile app, that enables anyone to use their wallet as a masternode; the masternode is set up for the user regardless of the user not having any technical experience.
Mentioned in Linda’s whitepaper are these following features provided by its unique usage of nodes:
● Increased confidentiality of transactions
● Instant transactions
● Participation in governance and voting
● Activation of the budget and cash system in cryptos
PoS – Linda’s Take on the Stake
Linda’s blockchain relies on the Proof-of-Stake algorithm. Why Linda used PoS is because it allows all the wallets to have a consensus on all of the transactions. Each wallet on Linda votes on the next block and the voting weight of each validator depends on the amount of LINDA they hold, hence making Linda more decentralized than a PoW (Proof-of-Work) system, where mining for blocks can be controlled by a few people. A higher level of decentralization also provides security from cyber attacks, which a lot of crypto companies have fallen a victim to. It also gives the system freedom to scale, as more wallets would mean a higher number of nodes; the greater the number of nodes, higher the level of decentralization and the quality of the blockchain.
A PoS system grants Linda’s blockchain energy efficiency; the PoS system does not require as much energy as the PoW system, thus giving stakers higher profits by cutting down their energy bills. Linda is eco-friendly and more decentralized than PoW system.
Linda’s Focus – Security
While one has to use mixers or VPNs to transact in other crypto coins with full security, Lindacoin makes available the option of using stealth addresses which allows users to transact in privacy. Stealth addresses aim to make both the sending and receiving wallets “impossible” to track. The Linda Network also offers a “Deep Web Tor Wallet” to provide additional security and anonymity to the users.
The Linda Wallet allows messages to be sent under full encryption, meaning wallets can message each other with complete security. Only the sender and receiver would be able to view the sent messages.
With the choice of PoS, options of stealth addresses and encrypted messaging, Linda seems to press highly on security.
Atomic and Hot Swaps
Using smart contracts, Linda allows users to swap between currencies without referring to a middle party exchange.
This should come in handy as:
- Financial savings can be made by the removal of exchange transactions.
- Wallet to wallet transactions can be made without security concerns of an exchange.
- There is an improved collaboration between cryptocurrencies.
- Gives benefits for merchants to be able to accept a bigger range of cryptos.
With hot swaps, any currency can be changed to any other currency, making the exchange process speedy and easy.
Linda X Platform
Other than providing a utility token, Lindacoin has created a platform similar to that of Ethereum. Linda X can be used to create and trade custom digital assets as well as digital currencies. Users can create dApps which can be accompanied with their individual tokens. The token platform comprises of tools and commands that lets people put all necessary aspects of regulations and blockchain technology together efficiently. The platform will also enable developers to use the Linda X network for the launch of their tokens, as they support the main blockchain.
The platform will provide people various support facilities to make easy the procedure of making and selling tokens. Linda promises to help with the development, marketing, and the launch of token on Linda X.
Moreover, all token generators on Linda X will be given access to all the regular services and features of Lindacoin. They will be able to stake their coins, have mining pools and will be provided with a mobile wallet along with other development services.
Linda X ICO
Linda will be using two coins – Linda and Linda X. Linda will be used as a utility coin, whereas Linda X will be an asset-based coin. Linda X will also be used as the gas of the Linda X network. Below are the details of the coin, Linda X.
Meanwhile the utility coin Linda, is currently valued at $0.001060. Its maximum supply is 30,000,000,000 LINDA out of which the circulating supply (at the time of writing) is 9,044,928,539 LINDA.