FAQ

Frequently Asked Questions about LI Network and LICOIN.

General Questions

What is the ticker symbol for LI Network?

The official ticker symbol is LI.

What is the total supply of LI?

The total supply is fixed at 100,000,000 LI. No more LI will ever be created.

Is there a pre-mine?

No. LI Network is a fair-launch project with no pre-allocated tokens for developers or early investors. All coin is earned through mining.

Mining Questions

Can I mine LI with my laptop?

Yes! LI Network uses the LiHashX algorithm, which is specifically designed for CPU mining. Any modern CPU with at least 2GB of RAM can participate in network security and earn rewards.

Do I need a GPU to mine LI?

No. While GPU mining is possible, LiHashX is optimized for CPU architectures. GPUs are significantly less efficient than CPUs for this algorithm.

How do I start mining?

You can start mining directly from the LICOIN Desktop Wallet or by using the standalone licoin-miner CLI tool.

Technical Questions

What is the block time of LI Network?

The target block time is 15 seconds, ensuring fast confirmations for transactions.

How does difficulty adjustment work?

LI Network uses a Linearly Weighted Moving Average (LWMA) algorithm that adjusts the mining difficulty every single block to maintain consistent block times.

Is LI Network a fork of another project?

No. LI Network is an original Layer-1 blockchain project built from the ground up, though it draws inspiration from established principles of decentralization and security.

Wallet & Security Questions

How do I secure my wallet?

Always use a strong passphrase for your wallet and back up your mnemonic seed phrase (24 words) in a secure, offline location. Never share your seed phrase with anyone.

What should I do if I lose my private key?

If you lose your private key and don't have your mnemonic seed phrase, your funds are lost forever. There is no central authority that can recover your account.