Introduction to LGCY Network

LGCY Network represents a significant venture into the blockchain arena, initiated with the aim to overcome the limitations faced by existing blockchain infrastructures like Ethereum. Founded in August 2020, LGCY Network is an open-source, decentralized platform tailored for running smart contracts and developing decentralized applications (dApps) efficiently. This initiative directly addresses common issues such as high transaction costs and slow processing times prevalent in other networks while promising a radical approach to governance and community involvement.

Core Features of LGCY Network

LGCY Network stands out due to several innovative features designed to enhance user and developer experiences:

• High Performance and Low Cost: The network boasts an impressive capability of handling over 10,000 transactions per second, with an average cost per transaction fixed at just $0.01. This makes it not only fast but also economically viable for developers and end-users alike.
• Delegated Proof of Stake (DPoS): Unlike traditional Proof of Work systems, LGCY utilizes DPoS for achieving consensus which is less energy-intensive and more scalable. This method also empowers token holders with a say in decision-making processes.
• EVM Compatibility: Being compatible with the Ethereum Virtual Machine (EVM) means that developers can easily migrate their projects from Ethereum to LGCY Network without substantial changes in their codebase.
• Libertas Protocol: A unique governance model where the power is evenly split across three branches, ensuring no single token holder can dominate decision-making processes. This democratic approach is aimed at maintaining a balanced governance structure.

LGCY’s Approach to Decentralization

The governance of LGCY Network is innovatively designed to evolve progressively towards full decentralization. Initially managed by its founders to ensure stability, the network is set to gradually transition control to its community, encompassing a broad range of participants including developers and users. This process is orchestrated through the Libertas Protocol, ensuring a balanced power distribution within the network's operations and decision-making bodies.

Tokenomics and Stability

Another noteworthy aspect of LGCY Network is its approach to tokenomics and economic stability:

• Token Supply Management: LGCY has reduced its total supply from 100 Billion to 21 Billion tokens, with 79% being burned to foster scarcity and value appreciation. This action also supports the network’s shift toward a community-led project.
• USDL Stablecoin: LGCY uses a stablecoin known as USDL for transaction fees on its network. Pegged to the dollar, USDL provides stability and predictability for transaction costs, which is particularly beneficial in a typically volatile cryptocurrency environment.

Building an Ecosystem and Community Support

The LGCY Network is not just about technological innovation but also community empowerment. A substantial portion of its token reserve is allocated to support developers and projects that choose to build on its platform. This support is not restricted to funding alone but extends to providing strategic and marketing assistance to ensure the success and visibility of projects within the ecosystem.

Team Background

The LGCY Network was co-founded by industry experts including Justin Waia’u and brings together a strong team with diverse expertise in technology, blockchain, and marketing. The team is characterized by its commitment to not only advancing the technological aspects of the LGCY Network but also ensuring a community-focused approach. This blend of technology and user-centric focus is what guides the team's strategy and operations, aiming to make LGCY the most decentralized dApp-supporting blockchain in existence.

Roadmap and Development Progress

LGCY Network has laid out a detailed and ambitious roadmap which began with its initial stages of pre-sales and network development milestones scheduled across several phases. Key developments include the launch of the Supernova Mainnet and several strategic partnerships with platforms like Ferrum Network and MoonTools. The roadmap also outlines the transition towards even greater decentralization, with plans to eventually hand over governance to the community, ensuring a self-sustaining network ecosystem. Recent updates show the roadmap is being adhered to efficiently, with the team often ahead of schedule. Major developments in the pipeline include enhancements to the network's wallet extensions, integration with major exchanges, and the launch of Myriadex along with other dApps.

support through development funds showcase a forward-thinking approach in fostering a robust blockchain environment.

Current and Upcoming Developments on LGCY Network

LGCY Network is actively expanding its ecosystem through various strategic initiatives and collaborations aimed at enhancing the platform’s functionality and outreach. Here are some highlighted developments:

• Supernova Mainnet: A major milestone, marking the full operational launch of the LGCY network, designed to support high-volume transactions and a multitude of dApps.
• Partnership with Ferrum Network: Aimed to provide high-yield staking opportunities and financial incentives for the LGCY community through pre-staking programs.
• Myriadex Launch: An upcoming decentralized exchange that will support a variety of trading pairs and improve liquidity within the LGCY ecosystem.
• Collaboration with SolChicks: Integrating gaming and NFTs which demonstrates LGCY's commitment to supporting diverse blockchain applications.
• LegacyOne:Battleverse Launch: An innovative project under the new LGXY branding that combines gaming with blockchain technology.
• LootUp App and Bitwin Integration: Developments that are set to enrich the network's offerings in DeFi and beyond.
• Wallet Enhancements and Extensions: Ongoing improvements to LGCY’s native wallet solutions to enhance user experience and security.
• Partnerships Aimed at Market Expansion: Including integration with platforms like MoonTools and strategic listings on various cryptocurrency exchanges.

These developments signify LGCY Network’s dedication to creating a comprehensive, efficient, and user-centric blockchain ecosystem.

Rebranding to LGXY

LGCY Network is undergoing a transformative rebranding phase which will see its ticker change from LGCY to LGXY. This strategic decision is not just a superficial change but is part of a broader movement to enhance the network's transparency and operational efficiency. Influenced by extensive feedback and insights from the team and partners, this rebranding aims to address and rectify past issues, including mispricing on various platforms. With the rebranding, there is also an introduction of a token swap facilitated through a straightforward smart contract process designed for ease and clarity. This rebranding signifies a fresh beginning and comes with a promise of upcoming listings on reputable exchanges, which will further support the network's growth and stability.

LGCY Network Price Analysis

As of December 25 2024 LGCY Network has a marketcap of $16K. This is {{percentagefromath}} from its all time high of $0.02085432. In terms of its tokenomics, there's a total supply of 26B with 48% currently outstanding. Keep in mind LGCY Network has a fully diluted value of $33K which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.