LEO, a utility token at the heart of the iFinex ecosystem. Leo tokens reduction of fees and other discounts on BitFinex and EthFinex, as described more fully in whitepaper, as well as similar fee reductions and/or other features and benefits for future iFinex trading platforms, products, and services.
LEOcoin (ticker LEO) is a cryptocurrency that runs on its own blockchain and uses a Proof-of-Work consensus mechanism, the same basic approach as Bitcoin. In simple terms, it's a decentralized digital coin where new coins are created by miners who use their computing power to verify transactions and secure the network. The project's official home on the web is leocoin.org.
LEOcoin is an independent cryptocurrency with its own blockchain, not a token built on another platform. Like Bitcoin, it uses Proof-of-Work mining, but it was designed with faster transaction confirmation in mind. The main practical difference is that it's a much smaller network with its own community and ecosystem.
LEOcoin relies on a Proof-of-Work (PoW) consensus mechanism, meaning miners compete to solve cryptographic puzzles and add new blocks of transactions to the chain. This makes the network resistant to tampering, since altering history would require redoing an enormous amount of computational work. Transactions are validated by the network as a whole, with no central authority in charge.
New coins enter circulation through mining rewards: whenever a miner successfully adds a block, they receive newly minted LEO as a reward plus transaction fees. This emission is governed by rules written into the protocol, so the supply schedule is predictable and can't be changed on a whim. Like most PoW coins, the issuance is fully transparent and verifiable on-chain.
You can store LEO in a wallet that supports the coin, and the official site leocoin.org is the best starting point for finding current wallet software. As with any cryptocurrency, keeping your private keys safe is essential — if you lose them, no one can recover your coins. Beyond holding, you can use LEO for transfers, provided the recipient and any service you use accept it.