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LoCoin (LCC) - True Location Coin provides GNSS based location service through blockchain. A 'faster' version of Litecoin which also uses scrypt as a proof of work scheme and is intended for microtransactions.

  • 15 seconds block targets: beat that MinCoin! ;)
  • 42 007 680 total coins
  • no subsidy within the first 3 days and after approximately 5 years; in between: 4 coins per generated block
  • difficulty retargets every 0.35 days
  • currently peers are looked up over IRC only
  • currently no block checkpoints are in the code (but could be easily added) Other than that, this coin is exactly like Litecoin and should by no means be used as a real cryptocurrency. All of the coin parameters are chosen arbitrarily or at most with 'fairness' towards everyone in mind.

So actually, this 'new' coin exists for the following reasons:

  • LCC proves that really anyone(!) can start a Litecoin/Bitcoin based currency (just look at the changes I applied to the original Litecoin source, for genesis block generation look at main.cpp)
  • allows me to experiment with coin parameters (in a private network)

Finally, I only tested the command line server/tool 'locoin' for the first 30 blocks. Credits go to the original authors/communities that created Bitcoin and Litecoin.

Development process

Developers work in their own trees, then submit pull requests when they think their feature or bug fix is ready.

The patch will be accepted if there is broad consensus that it is a good thing. Developers should expect to rework and resubmit patches if they don't match the project's coding conventions (see coding.txt) or are controversial.

The master branch is regularly built and tested, but is not guaranteed to be completely stable. Tags are regularly created to indicate new official, stable release versions of Litecoin.

Feature branches are created when there are major new features being worked on by several people.

From time to time a pull request will become outdated. If this occurs, and the pull is no longer automatically mergeable; a comment on the pull will be used to issue a warning of closure. The pull will be closed 15 days after the warning if action is not taken by the author. Pull requests closed in this manner will have their corresponding issue labeled 'stagnant'.

Issues with no commits will be given a similar warning, and closed after 15 days from their last activity. Issues closed in this manner will be labeled 'stale'.