[ANN][ICO] LELE COIN - MAKE EVERYTHING IS POSSIBLE IN HANDS OF EVERYONE

ABOUT US

MAKE EVERYTHING IS POSSIBLE IN HANDS OF EVERYONE

WHITEPAPER

LELE is Lite Eco Ledger Elements. Our project are make more trade tools and develop improves features for Telegram user with LELE blockchain. LELE is an altcoin such as litecoin, peercoin, and many others. In the world where Bitcoin is king, altcoins only change parameters of the original Bitcoin code such as the hashing mechanism, the time between blocks, the starting difficulty, and so on. We developed our’s based on NXT source code. LELE develop anything as simple as can be even it’s not a simple coin. This scalable cryptocurrency offering a eco-friendly mining called forging. We will continue to developed features are outside the scope of regular altcoins.

LELE is Combo (PoS and Transparent Forging)

Proof-of-Stake and Transparent Forging form are a powerful combination with substantial benefits over all other methods of coin verifying transactions: The system is highly efficient and far less wasteful of resources. There is less incentive for centralised mining, as there is with PoW. Forging can be carried out by anyone, and on the most low-powered computers (such as Android devices or a Raspberry Pi). The currency is more stable, as there is no inflation. Coins are earned through transaction fees alone. Transactions can be both fast and secure.

Full Pure POS

LELE is the 100% Proof-of-Stake (PoS) currency. Consensus in a decentralized digital currency like Bitcoin is achieved by requiring generated blocks to contain a proof that the node which generated the block solved a computational hard task. Unfortunately the concept of the Proof-of-Work (PoW) based system tends to lean towards eventual selfdestruction.

Proof-of-stake (PoS) aims to replace the way of achieving consensus in a distributed system; instead of solving the Proof-of-Work, transactions can be added to the blockchain or ‘forged’ by any member of the network. The node chosen to forge a block is random, but the odds of forging a block are proportional to their stake in the network (the number of coins they hold).

The required amount of coins (also called target) is specified by the network through a difficulty adjustment process similar to PoW that ensures an approximate, constant block time. As in PoW, the block generation process will be rewarded through transaction fees and a supply model specified by the underlying protocol; which can also be seen as interest rate by common definition. Time between blocks is one minute. This increases the rate of orphaned blocks but makes it more convenient for the users. This simplifies and accelerates transaction processing.

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Green Concept

LELE is "green" it's protocol in power consumption, since 100% PoS mechanisms don’t require massive amounts of electricity power like POW mechanisms do.

Many coins is based on Proof of Work where there are thousands of miners around the world crunching away at hashes and gobbling up TONS of power.

Proof of Stake doesn’t like that, so it’s important to realize that sometime at anytime any POW coins will exist when all of it is mined, all LELE that will ever exist already exists, so client wallets now forge (in LELE the term 'mining' is replaced with 'forging') for transaction fees. Since this can be done on a client wallet loaded on a PC/PI/HP, it is MUCH more environmentally friendly and power efficient.

Scalable

LELE can scale high; this is possible with LELE because the transparency provided in the protocol will allow each user's client to determine which node will generate the next block. Other nodes can then send their transactions directly to that node. This also allows additional fees to be realized for immediate, priority transactions.

Forging

It is elegantly simple, block generations with their transaction fees are competed for proportionally to all active forging wallets based on the amount of LELE a wallet has. So if a wallet has 1 million LELE, then they have 1/1000 of a chance of forging any block and receiving any transaction fees in that block. The math here is 1 million (amount the client has) divided by 1 billion (total LELE in existence) is 1000, so that is 1/1000 of a chance. An even added bonus is that it is your LELE balance that forges for you, not ASICs that requires lots of power, maintenance, and that depreciates in value and processing power. Instead of buying equipment to mine with, you just buy LELE to forge for more LELE with.

Pool Forging

LELE implements a pool forging feature. Whenever u not have enough amount of LELE to do solo forging, or have not any device to do this, u still could join at pool forging as like as POW pool mining, just swap your LELE coins to FORGE Token as an option.

Transparent Forging

PoS is theoretically vulnerable to attacks, because anyone with a large enough stake can rewrite the blockchain for their own benefit. Transparent forging is an ingenious answer to this problem.

Although the node which forges a block is random in the long term, in the immediate future it is highly predictable. This means the network knows where the next block should be forged. If a node does not forge the block it is expected to (perhaps because it is working to build a fraudulent chain instead), it is excluded from the network for a period of time. The likelihood of that node being chosen is instead redistributed across the remaining members of the network.

51% Attack Proof & Security

LELE utilizes a 100% proof of stake (PoS) mechanism versus the proof of work (PoW) mechanism. This effectively removes a security risk inherent in POW coins, as the issue of a 51% attack and other vulnerabilities inherent to PoW coins become non-issues.

Moreover, Transparent Forging system eliminates not only the chance of a 51 percent attack, but anything up to a 90 percent attack. A security mechanism to prevent forked chains from being forged by high-stake nodes. This prevents against even a 90% majority owner of all LELE branching out and forcing a fork. LELE nodes has built-in functions to defend against DDOS attacks. All of this is an efficient, fast and elegant way to secure the network.

Coin Inflation
Only 300 Million (Maximum - all included Airdrop) will spread to community & public at ICO phase. The Rest 700 Million will lock-in and only released 0,1% each time the price goes up 10% of the ICO price.

Earn Coin for Free

Just hold IGNIS coin at your own wallet, and got Airdrop 1:10, 1 LELE for 10 IGNIS

Doing Green Mining (aka Forging)

U will need “a mining rig” for mining Bitcoin and any other POW type coin. For the lowest Hash mining rig type at least u need for about $1.125. Exclude setup, electricity and maintenance. Your mining rig can be brick any time. When hashrate rally up, your waste the investation. That’s not happen with LELE. Only need one time investation, u can compound any time u want, or change to fiat and any coin. LELE implement Forging, the best and green method for mining. U can use any type of PC, Tablet, Handphone to do this. No need setup and huge electricity.

The total amount of LELE is 1 billion. Coins are earned solely by charging transaction fees and by LRP System. Unlike other currencies with PoS mining, u don’t need to worry about the amount of coin and the inflation caused LELE forging(mining).

70% of Total Supply are for Miner / Forger

Compare BTC and LELE Mining (Forging) Hashrate.Its about to compare mining profit between both method Hashrate. BTC and PoW always being lovely mining system. i.e BTC just start with 1% and the rest are belonging of community till the ASIC appears. When ASIC appears it’s belonging of Mining Industries. BTC mining system (include all POW) more mining rig means more hashrate, meant less profit. When the price go up usually the miner will be rise-up too. Meant more hashrate and less profit and the fee going expensive. This is could happen to LELE too. But the condition maybe would be different from now.

Lock-in and Release at Price-up (LRP)

We want to introduce the LRP system. This system would harmonized between supply and demand, till all total supply forged (mined). This system can reduce (hopely) the high volatility at cryptocurrencies.
1. When price up, hashrate up cause more miner (forger) joined. Then 0,1% of the lock-in supply will release each time the price goes up 10% of the ICO price to make correction and try stabilized price.

2. The lock-in coin will released to the forger (miner) as a part of fee award by LRP-bot about 70%, so they have change to make more investing to mine (forge) who will make price-up. The rest would be shared as a. Research Subvention (10%), b. Education Booster (10%), c. Re-Fuel LRP (10%). Then cycle go through till the all locked-in coin released.
3. So with rough calculate we need about 70% / 0,1% = 700% price up. Is easy to Pump and Dump and make a chaos just for 700% price up base-on ICO price. The 0,1% of the lock-in supply will release to forger is need to have term and condition.

The Harmonized Rule

1. LRP-bot setup and reset are arrange by price-up and price-drop. Gradually setup and reset will be at 10% base. For every price up (rise-up 10%) LRP-bot will setup and when price-drop LRP-bot will reset the base price to count/calculate next LRP.
2. The coin (0,1% of the rest locked-in) when setup by LRP-bot will release gradually for 365 days and will drop as fee award by LRP-bot every 5 minutes (randomized between 15 to prevent misuse), and will be stop and reset if the price drop again.
3. The market price will be take at every 1st sec ticks of hours (+7 UTC). Source market API tolerance about 5-30 minutes, to set the up and drop price.
4.The last drop price when LRP-bot reset, count base on price when last compound LRP adding/setup, would replace ICO price as base price to count/calculate next LRP. 5.Maximum 1 LRP allowed in a day. 3 compound LRP in a week. 7 compound LRP in a month. 50 compound LRP in a year.
6.Every year LRP would have “Halving” like as POW mining system. But not like PoW halving doing at percentage. Halving will adding 90 days of release gradually, i.e: If before are 365, would be 365 + 90 = 455 days. And so on.
7.LRP are new method for POS type, found by Alva Mantiri to boosting PoS price and coin distribute, to make PoS real desentralisation. In developing to got the best result.

Lelecoin created by using combination of SHA256 and Curve 22519 which created with own blockchain. Lelecoin created with POS system, really sure that the coin will develop quickly with the help of facility of ARDOR platform.

FORGING

Forging (Solo Forging) It is elegantly simple, block generations with their transaction fees are competed for proportionally to all active forging wallets based on the amount of LELE a wallet has. So if a wallet has 1 million LELE, then they have 1/1000 of a chance of forging any block and receiving any transaction fees in that block. The math here is 1 million (amount the client has) divided by 1 billion (total LELE in existence) is 1000, so that is 1/1000 of a chance. An even added bonus is that it is your LELE balance that forges for you, not ASICs that requires lots of power, maintenance, and that depreciates in value and processing power. Instead of buying equipment to mine with, you just buy LELE to forge for more LELE with.

Pool Forging LELE implements a pool forging feature. Whenever u not have enough amount of LELE to do solo forging, or have not any device to do this, u still could join at pool forging as like as POW pool mining, just swap your Lelecoins to FORGE Token as an option.

For investors, our Pos platform allow you to get profit every month for staking your coin.

TEAM LELE COIN