The Lithium ProjectsteemCreated with Sketch.

in lithium •  3 years ago  (edited)


Unlike other cryptocurrencies that were developed on previous cryptocurrencies' code, Lithium is a cryptocurrency that was designed specifically for currency and was created on fresh code. If you want to see what Lithium is all about, then stay with us.

The Lithium Project
Lithium launched on January 2nd as a cryptocurrency drawing its inspiration from other coins but not using any of those coins' codes, something that is relatively new with cryptocurrencies. The coin launched with an exchange, web wallet, app wallet, and software wallet- pretty much everything that a coin needs.

The coin runs on a new kind of block creation- proof of transaction. What this means is that the network randomly picks a transaction from a previous block and rewards the block reward to that transaction. The only catch is that there is a 50% chance that the transaction pubkey receives the block reward; if it does not land on that 50%, then the coins will be destroyed by being sent to an empty string. Fortunately, this system has a minimum amount to be considered for the block reward; if a transaction is below that minimum amount, it will not be in the drawing for the block reward. Around 1,051,000 coins are made each year, which looks like a 3.5% interest rate per year. 95% of coins were already distributed before January 2nd, and the last 5% will be available for the block reward which has already started - what are you waiting for? Go grab that reward!

The Lithium Project
Unfortunately Lithium is not yet on the market so there is no indicator of post-ico prices, but the price of 1 LTH before the ICO ended was right around 0.000018 BTC. With such a large supply it is impossible to see accurately where the price of Lithium will go, but with its small block reward we expect that those who hold will be rewarded well and price should rise slowly but steadily after the ICO. If you invested in Lithium and are looking for a quick profit, this might not have been for you- the distribution method of the coin favors holders initially. Fortunately the coin is low risk, so the price can't really dip too far below ICO price initially. The coin's initial market valuation is exactly 50,000USD, varying a little bit due to Bitcoin's fluctuating price.

With very timely releasing of programs and wallets, Lithium doesn't seem like a slouch in the cryptocurrency world. If you haven't yet invested into the platform and want to, your only hope is to wait for the exchanges to start. Overall, Lithium is looking like a healthy cryptocurrency and any dips right after the exchanges open are completely normal and are part of an altcoin release.

Like any ICO don't invest more then you can afford to lose.

Update: The Lithium project seems to be a scam. More information on bitcointalk:
https://bitcointalk.org/index.php?topic=1717241.0

Learn more about Lithium on: www.thelithiumproject.org

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Source: http://www.cryptodir.com/news/news/lithium.html

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