CLC - Centralized Ledger Coin is a new type of cryptocurrency that questions the current methods of crypto. We have asked ourselves the original question - How to make a currency that is safe and allows no single entity to control it? 10 years ago, Satoshi solved this problem by using a decentralized approach and blockchain tech. We have created a new solution inspired by the blockchain approach - we created chain-of-ownership technology. This technology fundamentally relies on cryptography and transparency.
Transactions:
Each coin always has a holder - a cryptographic public key, for this example - John. When this holder wants to give this coin, to say Bob, Bob generates a public key that he will use to receive John's coin. To cryptographically secure this, John must leave a signature that he wants to give the coin to Bob. He then sends his signature alongside Bob's public address to the centralized ledger, which accepts it if the signature is valid and contains Bob's public key. This is then added to the coin's transaction history, and Bob is now the official holder of this coin, and he can repeat this process. This is the fundamental idea of CLC.
Visual example of a transaction:
https://clc-crypto.github.io/coin/?id=224/Mining:
To introduce new coins to the market, CLC uses PoW mining. Miners race to find a cryptographic key pair that, when hashed, meets a certain difficulty criterion (e.g., starts with 6 sequential zeros). Once someone finds such a key pair, he submits it to the ledger, which, once verified, adds it to the public ledger and gives it a value (of CLC) denoted by the equation (-x / 1,000,000) + 50, where x is the total circulation of CLC.
Simply,
- CLC relies on transparency and cryptography to be the most secure cryptocurrency to this day.
- CLC is completely anonymous, has no wallets, and is untraceable to the real-life holder.
- CLC is fair for miners. We prioritized CPU mining instead of GPU & ASIC to make CLC more friendly for smaller miners.
- CLC replaces blockchain technology with chain-of-ownership technology to secure it and make it centralized without any downsides of current blockchain approaches.
- CLC makes users store each coin locally on their computers to ensure maximum security.
Are you interested in mining, investing, or getting updates on CLC?
Join our community on the following platforms:
Reddit:
https://www.reddit.com/r/CLC_Cryptocurrency/Discord:
https://discord.gg/3Rsw7qASgcWebsite (Wallet & chain-of-ownership explorer too!):
https://clc-crypto.github.io/