LTCP(Litecoin PoS)

  • LTCP(Litecoin PoS)
  • Introduction

    Litecoin PoS is a radical attempt at replacing a good but rather flawed system with a proven and workable alternative. Born out of in-depth research, the Litecoin PoS - LTCP team although standing on the shoulders of giants like Bitcoin and Litecoin recognizes their limitations such as long block time, the concentration of mining hashrate and course susceptibility to 51% attack.

  • About The Project

    As a Proof-of-Stake system, validators staking LTCP must stake matured coins. This means that the unspent outputs (UTXOs) need to have a depth in the main chain of at least the 500 blocks (which is the coinbase/coinstake maturity) Additionally, the coins to be staked need to be in the properly compatible address/transaction types. And because security is the backbone of any thorough and decentralized system, to further prevent the possibility of an attacker disrupting the Litecoin PoS blockchain, team adopted the Mutualized Proof of Stake consensus function. MPoS creates an impossibly high-cost barrier for malicious actors — one that is, theoretically, impassable. With MPoS, attackers can’t spam the Litecoin PoS network with fees. Instead, network participants all share the fees, instead of the totality of fees going to a single block creator — as is normally the case. With fee-sharing in place and an ongoing rotation of Stakers, the substance behind a spam attack vanishes.
    More importantly, MPoS algorithm is not an experiment. Team has already deployed it at scale within their test network making it time-tested and proven viability for its intended purpose. A more detailed explanation of the architecture and consensus algorithm of the Litecoin PoS is well articulated in its whitepaper.