Review The Lithium Project

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Review The Lithium Project


Lithium, a coin built from 100% new code

Lithium is a cryptocurrency that was designed specifically as an online currency and was created on 100% new code. If you want to see what Lithium is all about, please continue to read as we will explain the project and ICO in detail.

The Lithium ICO was launched on January 2nd as a new cryptocurrency and honestly, it had already had a good future from the start. The fact that it is released with an exchange, app wallet, web wallet and built from scratch is everything that a coin needs these days. The coin is running on an new kind of block system and is picking a transaction from a previous block and rewards the block reward to that transaction, itís a new system which is working pretty well.

Overall this system has a minimum amount for the block reward if the transaction is below that minimum amount it will not be in the block drawing.

Interest and free distribution
Lithium gives interest per year but only to public keys involved in transactions. 95% of all coins were already 'distribute'd' before January 2nd, the last 5% will be available for the block reward. While the distribution is still going on with the ICO, a part of the distribution consist of giving away free coins to the general public. While other coins mostly neglect free distribution to the general public, Lithium clearly understand that itís success depends on the fact that the general public should have coins and be able to use them.

As their lead developer describes Lithium
ďThe Lithium protocol is a self-regulating, distributed ledger system whose primary application is currency and its first application is payments. The risk of double spending is mitigated through the longest chain rule and every transaction is checked against balance through a simple, yet elegant system of balance addition, subtraction and comparison. Every node or client handles movements in the ledger system by following the incoming transactions. The thing that is nice about that is that its verifying the digital signatures and balance against the balance there was in the previous blockchain, after that it gets into a block and generates a public key involved into the transaction of the block that has been mentioned. I think that this is a good system because the network is picking the public key of the last transaction rewarded and decides.ď

Itís clear that they have well overthought their protocol and although there are very many similarities to other coins, the differences attracts the attention for me as a crypto currency enthusiast.

Initial Coin Offering (ICO)
With the ICO going on, Lithium is not yet on the market but it will be sooner then later because they already finished the exchange. Working on a block explorer (which is in itís ALPHA release) and finished the wallets.

All links to the Lithium ICO have been removed.
The Lithium project is a proven scam