LXCCoin has been launched by Crowd for Angels as the first asset backed ‘crypto-currency’, which is claimed to offer lower power consumption than competitors such as Bitcoin.
Touted as a second generation of online currency, LXCCoin is said to offer “fast transaction times, granting full convertibility towards other coins and cash, creating stability, forecast-ability and liquidity.
LXCCoin Ltd. CFO Ragnvald Hoel said: “There are 1.1 billion LXC Coins with a base value of €1 to be released over 4-5 years, and with an expected 12-15% annual performance, we expect a premium of around twice the performance per year. The coin will be listed on multiple crypto exchanges, in line with rising popularity, to increase its popularity and use.”
Crowd for Angels, a regulated crowd funding platform, is seeking to raise up to £250,000 for LXCCoin, giving a valuation of £2m.