Lossless (LSS)

Lossless (LSS)

Rank #770

$0.161275

1.30%

0.000008 BTC

LSS
USD

MARKET CAP

$8.962M

ALL TIME HIGH

$2.72

VOLUME 24H

$123.154K

CIRC. SUPPLY

55.573M

VOL/MCAP

1.00%

TOTAL SUPPLY

100M

DILUTED MCAP

$16.127M

MAX SUPPLY

100M

1H USD

0%

24H USD

1.3%

7D USD

15.52%

30D USD

12.73%

60D USD

12.96%

90D USD

0%

Tag:

cybersecuritybnb-chainView all

Lossless Price Chart

24h Change

1.30 %

Lossless - LSS Profiles

What is lossless?

Lossless protocol is a platform that provides anti-hacking solutions, a security protocol for DeFi to detect and prevent fraudulent transactions to return accounts to users.

How Lossless works

The Lossless Protocol is a piece of code that token creators insert into their tokens – this code allows Lossless to freeze any “black” transactions based on a set of fraudulent identifiers.

There are two processes to recover stolen funds:

-Emergency/immediate freeze after being hacked – this step is community and technology based, rewards the person who identifies the hack and freezes the transaction.
-The longer/permanent freeze occurs after a hack is verified by the Lossless committee, the company and the token creator, which will take steps to reverse the fraudulent transaction.

The mechanism of Lossless operation is based on the Proof of Stake mechanism.

Participants in the platform to become the custodian of hacking transactions must stake their tokens to the platform. If a transaction is found to be hacked, the searcher can freeze the trading account within 24 to 48 hours.

A committee consisting of the Lossless author, the Lossless company and the token creator will re-evaluate the transaction in order to make a decision to freeze it for longer or permanently.

The searcher's staked token reward mechanism will be executed if the transaction is actually hacked or not.

Hack search method
Listen for events on the thread,

-e.g. Mint(), OwnershipTransferred() – Smart contracts emit events about certain actions.
-Example: Mint() – Event emitted on blockchain if new ERC-20 token is mined.
By listening for this event, searchers can find a hack.

Check for abnormal token activity,

-e.g. large trades, pulling liquidity
Very unusual token activity, such as very large transactions from team wallets without prior notice, could also be a sign of a hack.

3rd party reports,

-e.g. about exchange hacks
Hacks in the blockchain can also be identified with the help of 3rd parties.
-For example, a centralized exchange could publicly announce a security leak that those who find it can use to freeze affected addresses.

Lossless outstanding features

-Different approach to blockchain security – mitigation vs containment (the latter has proven unsuccessful)
--Encourage decentralized community
Trusted Committee
-Focus on user-friendly UX/UI simplicity
-Advantage of Early Campaigners Experienced Teams

The economic model

An estimated 7% fee is paid from the stolen hack transaction. Paid only when the account is frozen, with the original token.

Revenue used:

-2% paid to searchers
-2% distributed to LSS token holders.
-2% of shares distributed to the Lossless Committee
-1% is retained by Lossless company
Development model:

-Product/Token
-Business Development
-Early Adoption Incentives
--Influencer marketing
Affiliate and referrals

Read full Article: CLICK HERE 

People

We found 4 people related to lss-lossless, include Project Lead Vygandas Masilions

Organizations

We found 5 organizations related to Lossless has Master Ventures, Poolz, Magnus Capital, DAO Maker, Kyros Ventures

Lossless Price Live Data

LSS Price

$0.161275

Trading Volume

$123,153.85

All Time High

$2.72

1hour Change

-0.03%

24hours Change

1.30%

24hours Range

-1.30%

24hours Low

$0.71

24hours High

$0.77

Liquidity ±2%

$2.91 B

Bids -2%

$29,063.00

Asks +2%

$15,437.00

Market Cap

$8.96 M

Fully Diluted Market Cap

16.13 M

Circulating Supply

55.57 M

Total Supply

100.00 M

Max Supply

100.00 M

Lossless Markets

See All Market
wait

Sorry, we don’t have this data yet.

But our scientists are working like crazy to get it.

People Also Watch

Medifakt
$0.012313
55.15%
chart
Firework Games
$0.000593
0.82%
chart
Falcon9
$0.000000000024
0.72%
chart
SmartFi
$0.406146
1.01%
chart
LuckyDoge
$0.0000001798
17.17%
chart
PIXEL NFT
$0.003769
0.25%
chart

Latest News

Be the first to know about Crypto news everyday

Get crypto analysis, news and updates right to your inbox! Sign up here so you don't miss a single newsletter.
people
iosandroid

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands (BVI).

Email us: [email protected]