A variety of cryptocurrencies can be found out there on the internet and Lithium is the newest addition to the list. However, Lithium differs from other cryptocurrencies. That’s because Lithium was not created based on the previous code used by cryptocurrencies. This project is based on a new code, which was optimized for currencies.
Lithium cryptocurrency was officially released during the first week of 2017. Even though other cryptocurrencies have influenced the creation of this cryptocurrency, it uses a new code, which is not being used by any other cryptocurrency in the world. The Lithium cryptocurrency was released along with a software wallet, app wallet and a web wallet for the convenience of users. In other words, all the facilities are provided for the people to use the cryptocurrency without going through any hassle.
Before using Lithium, you need to have a clear understanding about the basics of it. Since Lithium cryptocurrency is based on a new code, it has been optimized in a way to achieve proof of transaction. When you want to do a transaction with this cryptocurrency, the system would automatically select a transaction from one of the previous blocks and offer the block reward to it. Because of this method, only a 50% chance is associated with the transaction pubkey in order to receive the block reward. In case if the reward is not provided, the coin would be destroyed automatically by sending it to an empty string.
In order to keep the users away from hassle, the Lithium cryptocurrency is associated with a minimum amount in order to be called as the block reward. In case if a person initiates a transaction below this minimum amount, it would not get into the draw for block reward. When it comes to the Lithium project, more than 1,000,000 coins are being made within a year. This is associated with a 3.5% interest. Out of all the coins, more than 95% were distributed before the official release date. The remaining 5% was made available for block reward. Any interested person can think about going for the block reward.
Even though the official release date of Lithium cryptocurrency was on the second of January, it has not yet been released to the market. Therefore, it will not be possible for you to get hold of an indicator that offers past-ico prices. On the other hand, it is somewhat impossible to predict where Lithium cryptocurrency would go with a large supply. However, the price would rise slowly because of the small block reward.
Lithium may be the best option available for the use of individuals who are looking to get quick profits. The initial distribution method of this cryptocurrency can benefit the holders. The good news is that Lithium cryptocurrency is associated with a low risk. Therefore, people can go for this cryptocurrency without having any second thoughts on mind. At the moment, it is moving at a healthy phase and it would have a good future ahead.
With the developers delivering on their promosies so far there is a huge potential here, especially with the developers aiming for a small marketcap ~50.000 in dollar.
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
Resources:
https://www.thelithiumproject.org/
https://thelithiumproject.org/wallet/
https://bitcointalk.org/index.php?topic=1717241.0
why do people run these scams. i feel bad for people who spent money on the ICO