The LEOcoin Foundation has released a full white paper for its digital currency, which details development so far as well as outlining a roadmap for future progress.
This white paper offers a background of what the Foundation calls a digital currency for entrepreneurs, made to use in a merchant’s day-to-day business.
The Foundation says its project is “a constant learning process” that involves examining past and present problems faced by Bitcoin and creating solutions “to overcome similar challenges.”
Developers say this process has led them to switch the token’s mining algorithm from a Proof of Work-Proof of Stake hybrid to pure Proof of Stake. The team reports that this change will make the coin more cost and energy efficient. According to them, “anyone with a computer and a wallet containing over 1,000 LEOcoin can now mint the digital currency by staking at virtually no extra cost.”
In addition to its different technical approach, the Foundation is using a different method of dealing with regulators. Instead promoting an anti-authoritarian culture as Bitcoin has done over the years, the Foundation has been approaching lawmakers voluntarily, trying to develop beneficial digital currency regulation.
“These actions will not only benefit LEOcoin,” the Foundation says, “but is aimed at the whole digital currency ecosystem.
The project’s full white paper can be read here.