About master nodes and staking, beginners in the cryptosphere tend to think that these two are the same. Although they work somewhat similarly, they are not the same. And the only thing that they have in common is that they’re both a way to earn passive income.
If platforms use these correctly, for users, there are only benefits. With Bitcoin and many other cryptocurrencies, users experience slow transaction speed and high fees, finding it difficult to swap between layers.
This is where the Lightcoin project comes in.
Lightcoin is a platform that helps users exploit the possibility of running masternodes, stake, and earn income.
Lightcoin platform explained
Lightcoin is an index-based price utility token, which combines the benefits of a stable price token with a high-interest staking and farming investment program. This gives Lightcoin the stability of a traditional investment vehicle and the high performance of a crypto asset.
The Lightcoin project has a multi-chain structure. It runs on Binance Smart Chain and Ethereum chain, but the mainnet is based on Pivx. So, people can earn by staking and keeping a masternode not only on the mainnet but also in other environments.
The platform also offers the possibility to create financial contracts for DeFi staking on Binance Smart Chain.
Lightcoin offers greater cost efficiencies and reaches wider adoption at the protocol layer in an efficient, economically sound, and environmentally friendly manner.
The project does this while enhancing security and providing resistance to nefarious censorship or network exploitation of individual rights. To solve these problems and gaps in the current cryptocurrency landscape, Lightcoin rewards every node in the network to be part of the block generation process through the implementation of a Proof of Stake consensus algorithm to decide which block will be chained next.
The benefits of staking and masternodes
Before using Lightcoin, users must know the benefits of masternodes and staking and how they can earn through them.
Masternodes are another security system to protect the network. It helps with the transactions and stores the blockchain.
They often allow their owners to vote on topics related to the blockchain. It is also essential to be able to get coins with masternodes. Like mining, the operators are reimbursed with the respective cryptocurrency.
In the case of staking, the primary benefit is earning more crypto, and interest rates that can be very generous. You can earn more than 10% or 20% per year in some cases. It’s potentially a very profitable way to invest your money. And the only thing you need is crypto that uses the proof-of-stake model.
Even those who don’t have enough to become a validator can pledge their coins with a validator and earn rewards. So those with just a few coins can earn staking rewards if they work with a crypto exchange or another crypto platform. Rewards can be deposited into your account as they are earned.
When you stake a coin, your coins are doing extra work by contributing to the Proof of Stake (POS) work that validates a block on the blockchain. Your staked coins are frozen for a period and used to validate transactions on a block. You receive a percentage of the staked tokens as a reward in exchange.
Start using Lightcoin
Lightcoin was designed to appeal to a wide range of user profiles, including crypto enthusiasts, seasoned investors, and everyone in between. It is accessible, inexpensive, and appropriate for consumers who wish to utilize crypto without the difficulties that other cryptocurrencies, such as Bitcoin, provide. When it comes to big volume transactions for trading, exchanging, and farming, Lightcoin’s unique technique allows users to save on gas fees and enjoy rapid transactions.
Through Lightoin, a user can exploit the possibility to run masternodes once they buy 100,000 LHC. It can be expensive for some people. However, they can use a shared masternode service and earn right away, even with one coin with 200 % ROI/APY. You can find one of these Lightcoin masternode services right here.
At the protocol layer, Lightcoin promises better cost efficiencies and a wider adoption in an efficient, economically sound, and eco-friendly manner. While doing so, the project improves security and provides resistance to unethical censorship and network abuse of individual rights.
To address that issue and deficiencies in the existing cryptocurrency environment, Lightcoin uses a Proof of Stake consensus method to choose which block will be chained next, rewarding every node in the network for participating in the block generation process.
Connect for more
Explore Lightcoin by reading more about it on the official Lightcoin website or joining their social media communities on Discord and Telegram, where Lightcoin is preparing airdrops and contests in the future.
Disclaimer
Please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. CryptoMode is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
