Artfinity AT to Litecoin LTC Exchange

Crypto Pair Details: AT to LTC

Artfinity AT

ABCC Digital Asset Exchange will issue ABCC Token (AT) on July 9th 2018 (UTC+8) as part of our User Incentive Plan. 1. What is ABCC Token? ABCC Token (AT) is an ERC20 Token to be issued by ABCC Digital Asset Exchange. The total supply of AT is fixed at 210 million without any future offering. 2. Benefits of AT AT is a blockchain-based token native to ABCC Digital Asset Exchange. Members holding AT will be able to get access to a wide range of benefits including but not limited to— Using AT for various products and services on ABCC. For example, members can purchase other digital assets, pay transaction fees and gain preferential access to premium services with AT. Participating in various activities and campaigns on ABCC. ABCC will reward members who meet certain criteria. For example, members holding AT will share in 80% of trading commissions collected by ABCC. Participating in various activities such as community building, interaction between members and ABCC, proposing suggestions to ABCC and others. 3. Initial Allocation Below is a breakdown of the initial allocation of AT. 4. Issuance We will adopt a mechanism called “Trade Contribution + Simultaneous Release” to issue AT. 4.1 Trade Contribution In order to encourage our users to trade on ABCC, we have decided to reward our members with 50% of the total supply of AT. Of the 50% rewarded to users, 4/5 (i.e. 40% of the total supply) will be used to reward members who trade on our exchange platform via the “Trade-to-Mine” (ToM) mechanism. The other 1/5 (i.e. 10% of the total supply) will be granted to users who traded prior to the issuance of AT. 4.1.1 Trade-to-Mine (ToM) 40% of the total supply of AT will be used to reward members who trade on our exchange platform via the “Trade-to-Mine” (ToM) mechanism. Drawing inspirations from the Bitcoin mining model, we have adopted a similar inflation model for AT. In particular, the ToM mechanism includes two steps, i.e., “release” and “distribution”. Release The release of AT follows a half-life decay pattern. There are 6 half-life periods in total with each period being 120 days (roughly 4 months). We will release half of the total supply of AT in the first 120 days. The number of AT to be released in the following half-life period will be halved, and so on. Please see details of AT release schedule below. Within each half-life period, one “block” will be generated every 6 hours. The same number of AT will be released for every block inside the same half-life period. For example, the number of AT to be released for one block in the 1st half-life period is calculated as follows. The total number of AT in the 1st half-life period: 42,000,000; The number of days in the 1st half-life period: 120 days; One block will be generated every 6 hours; The number of blocks to be generated every day: 24 hours / 6 hours = 4; Therefore, the number of AT to be released for one block in the 1st half-life period: 42,000,000/120 / (24 hours / 6 hours) = 87,500. Distribution We will distribute AT released in a block to members per the percentage of their trading fees within that block. If it so happens that there are no members eligible for the rewards in a certain block, the released AT assigned to this block will be distributed in the next block. 4.1.2 Reward for Historical Trades 10% of the total supply of AT will be used to reward eligible existing users. We will distribute the rewards to the eligible users based on their cumulative trade volume contribution ending 24:00 June 27th, 2018 (UTC+8). The rewards will be frozen for 180 days after the launch of AT. 4.2 Simultaneous Release AT will be released to the platform, team and investors in proportion to the number of AT released and distributed to members via Trade-to-Mine (ToM). The number of AT released via Simultaneous Release = the number of AT released and distributed via ToM * (50% / 40%).

Litecoin LTC

Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins. Why Litecoin? Litecoin is a cryptocurrency that has evolved from Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin's 10 minutes. ‘While this matters little to traders, miners who use hardware to run Bitcoin's network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained. As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks'. The faster block time of litecoin reduces the risk of double spending attacks - this is theoretical in the case of both networks having the same hashing power. Litecoin Technical Details: The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin's 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units. Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.

SOURCE: COINGECKO

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