LGCY Network Developer Update | June 2021
LGCY Network shares with community an update on the latest developments from the developer team who have been hard at work.
Governing Bodies
The LGCY Network committee is made up of 27 Governing Bodies who are responsible for modifying dynamic parameters such as block rewards and transaction fees on the LGCY network.
As transactions on LGCY MainNet are established the network rewards the governing bodies with USDL, and this enables the Governing Bodies to incentivize investors to stake with them, and enabling distribution of USDL rewards to our community.
Every Governing Body will have its own profile / page on the LGCY Network block explorer. This will enable the Governing Bodies to effectively advertise their dApp or company and additionally provide options to offer more incentives to users besides just offering USDL rewards.
Clean. Audited. Code.
They are pleased to confirm that they have recently completed a series of audits on both the LGCY Network token and USDL Token.
In building LGCY Network, developer team are committed to building the protocol with clean code ensuring they avoid vulnerabilities and future issues created from cluttered or erroneous coding.
The latest audit reports represent the preliminary audits and they will continue to optimise and audit and release to community to ensure a transparent insight into the project status and development.
These confirmed the integrity and structure of code avoiding erroneous and irrelevance that will risk compromising the integrity of forward network plans.
Progress to MainNet
They continue to push forward toward MainNet launch, whilst also prioritising the integrity and security of the network which we know is critical to ensure the long term sustainable development of LGCY Network.
Their development team have continued to deliver well ahead of planned schedule, and have been hard at work pressure testing TestNet with support of both internal and external developer teams.
What is LGCY Network?
LGCY Network is a DPoS, open-source blockchain protocol with industry-leading transaction speed and flexible utility. Running on the Libertas Protocol, the network aims to be the most decentralized dApp blockchain in the world.
Bringing true decentralization with DPoS by implementing the Libertas Protocol to the Governing Bodies (GBs) system of governance. By splitting up the 27 GBs into three branches, limiting the power of each, and introducing terms to the governance system, no single large token holder will be able to gain an unbalanced amount of power.
📰 INFO:
https://lgcynetwork.medium.com/lgcy-network-developer-update-cf8b925323c
