LiteDoge is a meme coin and is a quick and fun way to help teach about wallets, cryptocurrency, and inflation currency. The platform aims to do so with a coin having a community and has been around for a long time.
According to its whitepaper, proof of work(PoW) makes cryptocurrency dependent on energy consumption, thereby adding significant overhead in the operation of networks. Users bear the overhead cost through a combination of transaction fees or inflation. Also, high-energy consumption levels result in miners discontinuing mining PoW blocks. Considering all the problems, LiteDoge uses proof of stake(PoS). PoS is also a process of transaction verification but proves to be beneficial in eliminating the dependency on energy consumption, thereby achieving lower inflation or transaction fee at comparable network security levels.
The native token, LiteDoge (LDOGE) is a lite version of Dogecoin. A peer-to-peer cryptocurrency, LDOGE facilitates quick transactions and low fees. This is because the token uses the Scrypt hash function algorithm for transactions. The hash function transforms data of arbitrary length to a fixed length. Using Scrypt helps each transaction cost a very small amount of fees. Further, the token implements a new Proof of Stake-2.0. So as long as users hold the tokens in their wallets, they get rewarded with LDOGE tokens.
The platform seeks to launch SpaceAlpha Game and looks forward to bringing users a combination of LDOGE and a play-to-earn game. SpaceAlpha is the space civilization simulator game with LiteDoge and Doge as indispensable parts. Further, the organized community is another important feature of the LiteDoge platform. All major communication among the community is done via Discord, website, and an app. The platform distributes small amounts of cryptocurrencies as a reward through these channels.
