About LGCY Network
LGCY Network is a Layer 1, proof-of-stake, decentralized network. Supernova Mainnet handles 10.000 transactions per second at an average cost of 0,01$ per transaction. LGCY Network is a DPoS, open-source blockchain protocol with industry-leading transaction speed and flexible utility. Running on the Libertas Protocol, the network aims to be the most decentralized dApp blockchain in the world. Bringing true decentralization with DPoS by implementing the Libertas Protocol to the Governing Bodies (GBs) system of governance. By splitting up the 27 GBs into three branches, limiting the power of each, and introducing terms to the governance system, no single large token holder will be able to gain an unbalanced amount of power.
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Market Stats
Market Cap
$10.48K
FDV
$82.44K
Circ. Supply
13B LGCY
Max Supply
100B LGCY
Total Supply
100B LGCY
Performance
Popularity
Not enough data
Dominance
0%
Volume (24H)
$87.31
-100%
Volume (7D)
Not enough data
Volume (30D)
Not enough data
All time high
$0.91
Price Change (1Y)
-34.95%
Additional details
Market details
LGCY vs markets
↘ 60.36%
LGCY vs BTC
↘ 61.29%
LGCY vs ETH
↘ 59.01%
Tags
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0xaE697F994Fc5eBC000F8e22EbFfeE04612f98A0d |
Price history
Time | Price | Change |
|---|---|---|
Today | $0.00000083 | ↗ 3.39% |
1 Day | $0.00000080 | ↗ 3.39% |
1 Week | $0.00000064 | ↗ 29.81% |
1 Month | $0.00000087 | ↘ 4.65% |
1 Year | $0.00000127 | ↘ 34.95% |
FAQ
LGCY network (LGCY) is a blockchain network based on decentralized applications (DApp). The platform believes that every token holder should have equal voting governance rights regardless of the size of their holdings. So, the network makes use of Libertas protocol to engage community participation. It is a protocol that divides the 27 Governing Bodies (GB) into three branches, each with limited power, ensuring that no single major token holder may achieve an imbalanced amount of power.
In addition, LGCY network employs the delegated proof-of-stake (DPoS) consensus mechanism, which was created to protect a blockchain by assuring representation of transactions within it. However, this consensus mechanism has its own loopholes since the voting strength is determined by the number of voters and the number of tokens they hold. Hence, LGCY aims to resolve this issue by implementing Libertas protocol, thereby utilizing the power of digital democracy and providing a voice to smaller token holders.
As per the whitepaper, LGCY is the native token of the LGCY network. USDL is the gas (transaction fee) token of the LGCY network. The LGCY network aims to use USDL as gas instead of bandwidth and energy. 1 USDL is equivalent to $1 in transaction/server fees. USDL is also a stablecoin. That means that those who stake LGCY tokens or run nodes with them are entitled to receive rewards in a safe, stable coin rather than a volatile one.
The LGCY network was established in August 2021. It was founded by Justin Wai'Au (cofounder and project manager) and Wes Wade (cofounder and team leader). Other team members include Abhilasha Singh (lead developer), Vinod Kumar (lead developer), Craig Mackie (marketing and business developer), and more. LGCY network has a maximum total supply of 21 billion LGCY tokens.
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