We are very excited and proud to announce the introduction of City Chain
The planing of the blockchain project started in 2015 at the same time we started the Liberstad project. It has been almost one year since we started the development of City Chain and we have now been running the test-net for about 3 months.
On October 2nd we launched the official main-net of City Chain and the blockchain is now live and running.
Our own blockchain
Ever since we started the planning of Liberstad back in 2015 we always knew that blockchains and cryptocurrencies would be a big part of Liberstad's development.
After several years of planning, researching and listing up the requirements we wanted in a blockchain we concluded that we wanted to create and develop our own blockchain to fit the needs and requirements we had.
In February 2018 we established City Chain Foundation and the development of City Chain was initiated.
City Chain is not developed directly by Liberstad Drift AS but a separate organisation called City Chain Foundation. Sondre Bjellås who has done the coding for the blockchain is CTO and chairman of the Foundation.
City Chain is the name of the blockchain and City Coin (CITY) is the name of the cryptocurrency that runs on the blockchain.
The wallet is called City Hub and will be much more than just a wallet for Citycoins.
We are only in the very beginning of this exciting adventure and City Coin is only the first application on the City Chain. We hope this can bring in some needed capital to continue the development of City Chain, City Hub and the Smart City Platform.
City Chain is much much more then just a blockchain for cryptocurrency. It is the beginning of the Smart City Platform which will include many different services built on top of City Chain and/or integrated with other blockchains. It will include property and vehicle registration, identification system, smart-contracts, insurance and more.
City Coin and City Chain is based on Stratis which is another blockchain project. It is a Proof-of-Stake (PoS) coin, meaning it does not use mining (Proof-of-Work (PoW)) to confirm transactions and blocks. This means that there is no need for specialized computer hardware and enormous power consumption to secure the network. Anyone and everyone can help secure the network and receive staking rewards that is equivalent to what miners receive for securing Proof-of-Work blockchains.
If you have City Coin in your wallet you can stake them which helps secure the network and you will receive staking rewards if your computer finds a block.
You can read more about City Chain and City Coin by clicking on the link below.
Liberstad Block Exchange
We are also in the process of setting up a couple of new companies in Liberstad where one of them is Liberstad Block Exchange (LBX). LBX is an exchange for buying and selling Citycoin and other cryptocurrencies. In the future it will also be a stock- and security exchange for Crypto Companies registered on City Chain. Crypto Companies (CC) registered on the City Chain will be able to easily issue their own stocks and securities that can be sold and traded on LBX.
The trading-platform for Liberstad Block Exchange is under development and it is currently only possible to buy Citycoins for Bitcoin.
Because of new laws and regulations it will take some time before the exchange is a fully functional fiat to crypto exchange. In the beginning it will be a pure crypto to crypto exchange.
Before City Coin is listed and publicly traded on the global crypto-exchange market we are now selling Citycoins for 1 NOK or 0.12 USD per CITY from our website and at Liberstad Block Exchange.
Click on the link below to go to Liberstad Block Exchange
City Chain is an open-source project and If anyone have coding experience and would like to contribute to the project you can follow the development on GitHub and our Discord and Telegram channel and contact Sondre. You will find the links on the bottom of the website.
In addition to the City Chain project we are of course also working on the development and construction of Liberstad. We have made a lot of progress on several construction projects and our main project at the moment is "Liberstad Event Center" which we are building in the old 650 sqm chicken-house.
We will be writing more about the development and construction in Liberstad in our next update.Until then.....
Best wishes and regards from
John, Sondre and the rest of the Liberstad Team