The biggest problem in lending activities of banks is how to control bad debts. With Blockchain, we can solve that problem by technical aspect. Changing technology platforms can help control cash flow, borrowers information, loan appraisal more closely but still maintain a balance in policy.
To do that, the data structure of the credit system must change. With the current centralized database model, each bank has its own database. The storage and management of information requires high cost, strict security technology, but the risk of data leakage still occurs. On the other hand, banks cannot cover borrowers' credit behavior if they borrow outside the system.
Meanwhile, Internet companies are collecting and owning huge amounts of customer data that store user credit behavior. Many people choose to borrow through online organizations with easier loan procedures and conditions.
In order to solve the problem that is both redundant and lack of information, there should be a strong and transparent mechanism for cooperation, collection, exploitation, analysis and storage of data. The decentralized credit system can help banks increase security, limit data loss and better exploit information.
LocalCoin is a truly democratic decentralized ecosystem where people can freely do what they want and what they want. LocalCoin is not a company or a person, it is a community of people who share the same values of freedom and freedom.
Technology of decentralized consensus of LocalCoin
Consensus is the mechanism by which people's organizations decide to act uniquely. Although not considered traditional technology, consensus technology is the basis of democratic governance and coordination of free market activity, first introduced by Adam Smith as a Handless. picture of Islam. The consent decision process allows all participants to agree on an action solution even if not the preferred course of action for each participating individual. Bitcoin is the first system to integrate a completely decentralized consensus approach with modern technology of the internet and peer-to-peer networks to facilitate the transfer of value through electronic communication. The evidence structure of Bitcoin network protection and maintenance is a way of organizing individuals who do not necessarily trust each other to act in the best interests of all network participants. LocalCoin ecosystem uses the Delegated Proof of Stake to find effective solutions for distributed consensus decisions.
Delegated Proof of Stake (also known as DPoS) is a consensus algorithm that maintains an irrefutable agreement about truth on the Internet, validates transactions and acts as a digital democracy. It uses real-time voting combined with a reputation social system to reach consensus. Every token owner can make an impact on what happens on the network. DPoS is not only a democratic system, but also effective and efficient. The selection of block manufacturers allows transactions to be authenticated in seconds, instead of 10 minutes, there is evidence of a working system used by Bitcoin.
LocalCoin Trading Terminal
LocalCoin Online Trading Terminal for brokers is a cutting edge trading technology for online broker-dealers and trading firms. Rich functionality, speed and excellent usability available from any web browser and any device.
LocalCoin Trader is built on HTML5 technology bringing responsive design, advanced features and usability to the web. From one screen to a dozen, our online trading terminal adjusts to any number of displays.
Transaction fee is zero
On LocalCoin, there is no ridiculously low commission fee.
All you pay is a fixed network fee just to push your transactions into the blockchain.
A Blockchain-based system handles 100,000 transactions per second, with no electronic money close to it. LocalCoin technology will significantly enhance the performance of the current DEX and bring breakthrough changes to digital asset exchange.
Super secure transactions have no knowledge ('undefined' has sent 'n' 'undefined' to 'undefined'). That means you can place blind transactions from your account to a secret account that cannot be viewed through any block explorer.
We do not have access to your account, simply because you are the only one who holds the secret key for that account. There is no way that centralized exchanges can compete with decentralization, full encryption, complete anonymity, cold storage, strict access management.
Information about the token of LocalCoin
Token Symbol: LLC
Timestamping scheme: Delegated Proof of Stake and Proof-of-node
Transparency: Open source
Block time: 2 seconds
Initial 1 LLC ICO price: $ 0.5 US Dollar (USD)
10% (10 000 000 LLC)
Air-Drop Automatically paid into the very first 100 000 registered accounts.
10% (10 000 000 LLC)
Bounty Program allocated to bounty program for community engagement
80% (80 000 000 LLC)
Public Crowd sale no maximum allocation to investors through entire crowd sale without burn of unsold
1 000 000 000 LLC
Development team allocated to the development team
Decentralized exchanges allow you to always control your assets. They provide a private key and allow you to withdraw money from a smart contract (you are a buyer or seller) if you suddenly decide not to conduct the transaction. Unlike centralized exchanges, DEX allows users to control their electronic money assets at all times: they offer private keys and allow buyers (or sellers) to withdraw money from smart contracts if they change your mind and decide not to continue a transaction.
LocalCoin technology is a promising technology that will surely shake everything in the real world, allowing data and value transfer across different blockchain and existing commercial systems, significantly improving Options for traders and exchanges. In the next two years, this cross-chain technology will certainly push the service of decentralized value forward. For more information about this project, please read the links below:
Author profile: https://bitcointalk.org/index.php?action=profile;u=1529738