What is LiteBitcoin (LBTC) – Crypto Beginner’s Guide
The LiteBitcoin is an experimental digital currency which is a version of the Bitcoin. Regardless of location, the currency offers instant payments all over the globe.
The power to issue money and manage transactions on the platform is spread over the members of the network. This means that the platform eliminates the use of a central authority while running on a peer-to-peer technology. To make use of the currency, an open source software is also available under the name LiteBitcoin.
LiteBitcoin (LBTC) Mission
To offer a low fee on each transaction while also providing a system of Micro Payment which meets the daily demands of an individual. The network also hopes to create a platform on which skilled IT professionals can offer their IT services.
LiteBitcoin Main Team
In order to provide services without any limitations, the team of developers behind the coin remains anonymous. Here are the members of the development team:
The main social media manager of the currency and also the head of the LBTC marketing department. He also has lots of experience as a market expert and cryptocurrency trader while also serving as the PR manager.
Known as the senior DevOps engineer, he is a software engineer who is the current head of the LBTC development department. Other positions he holds include that of a trainer, senior C, and C++ programmer, and also the team lead for the LBTC wallet.
Another social media manager for LBTC, he is the main moderator for the LBTC groups as well as a project supporter for the LBTC.
This is the PHP+SQL architect behind the currency while also serving as DB senior administrator and CryptoConst team lead. As a programmer, he is a middle DevOps engineer, and head of the web platforms development department.
This map is a quick look at some of the progress of the currency since the third quarter of 2017. These are some notable developments:
3rd Quarter – 2017
During this period, the LiteBitcoin/LBTC was coined. To develop the currency further, the team opened for applications from experts in the IT sector. In addition to the development of the site, the currency also made its way onto various exchanges including Novaexchange.com, Yobit.net, and Coinmarkets.com with applications to poloniex.com and cryptopia.com
4th Quarter – 2017
This was the period where campaigning was kicked into high gear. The campaign included social media, and promo video campaign to attract LBTC supporters and also publicize the currency. Wallet releases were also made available during this period with wallet releases for Windows, Linux, and MacOS.
1st Quarter – 2018
Lots of updates were released during this period. There were updates for both the LBTC site design as well as the LBTC wallet design. There was also the development of Cryptoconst.com for an LBTC based exchange.
2nd Quarter – 2018
There was an LBTC hardfork along with a debugging process on the Cryptoconst.com platform. The wallets also connected much better with wallet updates. To improve GPU mining and decentralization, there was a migration from the Scrypt algorithm to NeoScrypt.
3rd Quarter – 2018
Another period of updates for wallet, LBTC, and the Cryptoconst.com designs. There was also a release of new services, a fix for CryptoConst.com, and new platform listings.
4th Quarter – 2018
Implementation and debugging of some new services while also updating CryptoConst.com for use. In addition to listing on new platforms, LBTC was also advertised massively.