The main purpose of cryptocurrency is to be independent of central banking; to become one’s own personal bank. Only the holder of crypto should know the activity of their bank and the assets they hold.
Unlike traditional fiat currency, crypto assets should be utilized at any amount and frequency the holder sees fit, without any banking or government authority granting approval. Physical cash is becoming a thing of the past. In this digital age, computer code runs the world. And with that, surveillance invades even the most mundane aspects of an individual’s life; be it by government or hacker. As a result, there is a pressing need to implement tools and protocols that protect the right to privacy and anonymity of all people, not just the elite of the world.
Physical cash provides a level of privacy and anonymity, but as it fades away, there needs to be an adaptation and evolution. That is where private cryptocurrency comes in the picture, providing solutions for a rapidly changing world. “Privacy Coins”, although still in their early stages, are the future of value exchange. Litecash being one of them. What is Litecash? “Private, fast, simple, useful!”
**FIAT IS DEAD**
Litecash, using the BEAM version of MimbleWimble, is a second generation blockchain protocol with improved speed and security. Beam without the corporate face.
- no pre-mine
- no dev tax
- current supply is 220/722m
- Tx fees are very low (negligible)
- Block time is 1 minute
- Uses dummy addresses in every transaction that make the IP packet sniffing attack unviable
- Temporary transaction addresses are set to expire in 24 hours
- Wallets need to be online (user logged in)
in order to transact
- If $CASH is sent to an invalid wallet, funds will not be lost and returned in 12 hours
MimbleWimble only saves the start and end address in the blockchain so it is much smaller than other blockchains. Being lightweight makes running a full node mobile client more practical. An independent Litecash wallet fitting on a mobile device, allows the holder to have access to their “independent bank” 24/7. Private, secure, and at the ready when ever transacting is necessary.
– The Litecash Team!