‘Hive’, The LCC story continues.
By Fred Newbloke
The team are proud to report that ‘Hive’ is performing as anticipated, securing the network against 51% attack.
The interest, uptake and interaction has been incredible since Mainnet activation on 06-Feb-19, following a user activated soft fork that resulted in over 94% support. Particularly pleasing given the project is still very much in its infancy.
It is very encouraging and motivating to see such community support and involvement, consistently demonstrating a willingness to contribute to the project’s evolution. Several indices have already been developed that are currently in operation, assisting users with their decision making process. More details may be found at LCC Discord/Hive-Status.
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A number of ‘Bee Cycles’ have now run their course. Having analyzed sufficient dynamic data since activation, we are pleased at this point to implement an update to the core wallet GI (Global Index). This update is expected to closer align the indicated GI index metric with observed real-world conditions, providing users with a more informed value judgement when purchasing Bees.
Note: Network protection against 51% attack is still maintained.
The Global Index was initially designed to provide an ‘at-a-glance’ view of likely Bee investment profitability, assuming that the hash difficulty adjustment managed to maintain a 1:1 ratio of POW and Hivemined blocks.
Mainnet results have now have now shown a ratio closer to 2:1 (POW/Hive). This is a result of factors such as offline wallets during Bee lifespan, and levels of available Hashpower.
The latest wallet release which includes the update is now ready to download.
Note: This is a non essential upgrade, but it is strongly recommended for Hive miners as it corrects the GI metric to reflect real-world dynamic conditions.
At Litecoin block 1371111, a new currency was born. SHA256 mining, cheap transactions, fast blocks, intelligent…litecoinca.sh
‘Hive’ Whitepaper has also been updated and available now for review.
The team at LCC will continue to explore and develop innovative ideas, encouraging collaboration along the way and seek new partnerships. ‘Hive’ will provide the stable platform for future growth on our journey taking LCC towards its full potential, with the confidence that our network is secure.
A special thanks goes out to our community for the continued support, and all involved with making ‘Hive’ so unique and special. A major achievement addressing a serious issue in our space, one currently facing many projects.
Please join us to learn more about Hive mining and all things LCC. Always someone there to help.
Network hive difficulty automatically adjusts to the current bee population so that generally, only one bee in the…hive.litecoinca.sh
Here’s to the future, for tomorrow belongs to those who prepare for it today.
The LCC team 🐝