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Lightning Bitcoin

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  1. Lightning Bitcoin

    LBTC Block Producer Election

    Hi all members of LBTC community, We are considering Block Producer Election like EOS to make more people join LBTC community. The following content is from Jack's post in Chinese Forum. Feel free to leave your comments. Jack: Yesterday I mentioned the plan about the coin lockup. Today I would like to talk about another idea. This is a hot topic for the market now -- EOSIO block producer election. LBTC adopts the similar DPOS mechanism as EOS, which separates bookkeeping rights and voting rights, just like the parliamentary system. Currently, Lightning Bitcoin generates 650,000 LBTC each year, and each node can get around 6,500 LBTC. According to the ZB exchange price, 6,500 LBTC is around 3.2 million CNY. In addition, there are also transaction fees as forging income. With such a large amount, those who want to participate in the LBTC election will certainly strive to obtain the market acceptation and help the network a lot, which not only make the network safer, but also make LBTC community stronger and better. Therefore, we propose the election plan here and it will be implemented if we can get enough support from the community. The candidates should meet many conditions to make sure they are reliable. We may take EOS candidates rules for reference.(Pls note the above is only a preliminary plan and the final has not been confirmed yet, so feel free to leave your comments.)
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