There has been a recent growth in community-based cryptocurrencies across the blockchain. Instead of focusing on volatile profits that can turn into losses at any time, people are craving something that gives them a measure of security rather than leaving them facing an uncertain financial future. That something that they happened to be looking for has turned out to be community-based cryptocurrencies.
Community-based cryptocurrencies function just like they are named; for the best interests of the community.
What are Community-Based Cryptocurrencies?
Community-based cryptocurrencies function just like they are named; for the best interests of the community. Instead of focusing on maximizing profits and giving investors volatile returns, a community-based cryptocurrency instead relies on building up a community and a coin that reflects the strength of that community.
Furthermore, in order to protect the investments by those who are part of that community, community-based cryptocurrencies offer far greater security than your normal cryptocurrency. It has a number of measures in place to protect the community and protect their dealings all across the blockchain.
Lastly, due to the strength of the coin being based on the strength of the community, along with the fact that such cryptocurrencies are strongly decentralized, they do not feel the trickledown effect that comes from larger cryptocurrencies and effects the smaller ones.
There are many different community-based cryptocurrencies around these days, with all of them bringing major promises of protected investments and respectable profits. LIC is one such cryptocurrency which is bound to increase in popularity quite quickly.
LIC is a community-based cryptocurrency that is designed to give maximum benefit to the investors in any situation.
What LIC Brings to the Table
LIC is a community-based cryptocurrency that is designed to give maximum benefit to the investors in any situation. The system in place for LIC to work is based on factors that include seniority, deposit, and levels of transactions. This means that the creation of a new LIC is entirely dependent on the investment being made into the coin by the community. The system is now 100% proof-of-stake, rather than a proof-of-work protocol which drives most other cryptocurrencies.
Furthermore, LIC is an extremely decentralized cryptocurrency that works independently and offers returns with respect to the community that owns it and invests in it. This protects LIC from influence by other factors, such as the trickledown effect or damage to the blockchain and cryptocurrencies by restriction. With LIC, once you begin using it’s not just an investment you will have to worry about all the time, it becomes a part of your life. This phenomenon is called “becoming the instrument of life” by LIC’s creators themselves.
Community-based cryptocurrencies such as LIC display a seismic shift in the blockchain and for those that invest in it. Instead of going after the biggest thing that’s available in the market, people are now looking for cryptocurrencies that can protect their interests in the long haul rather than give them major profits in a short period of time. People are now ready to accept the blockchain as something that’s here to stay and are willing to invest in it and keep those investments secure, as long as possible.