LBC is the currency of the LBRY blockchain with more functions than Bitcoin.
Use it to sell & buy digital content, or deposit LBCs to a LBRY-URL you value.
LBC is used for primarily 5 things.
Just like Bitcoin: LBC Transactions – In LBRY: Mostly between viewer and content creator.
Just like Bitcoin: Rewarding miners who secure the integrity of the network.
LBRY-Feature: Deposits for Vanity Claim Names.
LBRY-Feature: Deposits for Channel names.
LBRY-Feature: Rewarding Data-Hosters who secure the data availability, (coming soon).
LBC is built on Blockchain-technology which secures the transactions. It is proven to be the most secure technology for securing data – as long as the integrity is secured by enough hardware miners and mining pools.
LBC Deposits for Vanity Claim Names (URLs)
A Vanity Claim is the URL of LBRY. It is created by depositing any amount of LBC when publishing a file.
Vanity Claims are chosen by a top-bid deposit system. Winning bids get the claim, and the auction never closes.
The URLs in LBRY will be owned by the persons or companies who value the URLs the most.
You can claim lbry://cocacola and deposit 10 LBC. If Coca Cola Company comes and wants it, they will have to deposit more than the 10LBC, so that they can be listed first when people search for “cocacola”.
Several people can publish at lbry://cocacola and each publication has a unique ClaimID
The one who deposits the most LBC’s into a name will be shown first when people search for Coca Cola.
Channel Names (@)
You may create Channel Names that work just like YouTube channels, and they use the exact same bidding system as Vanity Claim Names. They are identified by the @-symbol.
Vanity Claim Name = lbry://LBRYCommunity
Channel Name = lbry://@LBRYCommunity
All the LBC’s are still in your control.
These deposits are safe, as long as your wallet is safe and you follow Wallet Security instructions.
You can retrieve your LBC at any time, but doing that will lose your spot in the search results.
Read more details at LBRY Inc’s website here ‘Naming‘.
There are primarily 3 ways to get LBC.
1. Buy LBC (You need Bitcoin first)
- Buy LBC in the LBRY App.
- Buy LBC at a Cryptocurrency Exchange like Bittrex, Poloniex, or Shapeshift.
2. Get rewards/bounties
- Receive rewards by verifying yourself in the LBRY App.
- Receive rewards by helping out in the LBRY Discord Chats. (Begging is not allowed.)
- Complete bounties at https://lbry.io/bounty
- Apply for funding for a LBRY-related project you have planned. https://lbry.fund
3. Mining or Data-Hosting (Secure the Network.)
- Mine LBC with your hardware
- Use your storage space for hosting data on LBRY. (Coming soon.)
We do not provide investment advice.
There are a couple of wallets available for download. These are direct links to the Official LBRY Inc. website and the Official Github repositories.
(GUI for Desktop & Android)
Download LBRY App (Explorer of Digital Content)
Desktop, (Linux, Mac, Windows)
For Advanced Users (CLI)
- Coinomi (3rd-party Wallet Provider)
What is a Cryptocurrency?
A cryptocurrency is a digital currency or asset which is secured by strong cryptography. They all have a market value, and you can sell or buy them at Cryptocurrency Exchanges. One unit of a cryptocurrency is usually referred to as a ‘coin’, just like Bitcoin.
You can hold less than 1 coin – for example 0.1 coin.
They are all divisible, which means that you do not need to buy 1 coin. You can buy a tiny fraction, for example even 0.00000001 amount of a coin. Yes, those are 8 decimals. – Use your reading glasses accordingly.
Price & popularity does not necessarily justify utility.
Some cryptocurrencies are more popular than others, and some are not so popular. This is usually reflected by their price, but the price alone has not much to do with the actual utility or development-progress of the coin. A lot of cryptocurrencies are heavily marketed, and some are bought in ICOs (Initial Coin Offerings) even before the currency is released.
LBRY (LBC) never held an ICO, however the developers set aside a huge amount of LBC at the birth of the LBRY Blockchain. This is called the ‘LBC Premine’.
We do not provide investment advice.
The LBC Premine is what we call the 400 million LBC’s, or 40% of the 1 billion LBC’s which will ever exist.
These 400 million premined LBC’s are planned to be used for:
- Operational Fund for LBRY Inc. (100 million)
- Community Fund (200 million)
- Institutional Fund (100 million)
Read more in LBRY Inc’s Credit Policy.
LBRY Inc. is distributing LBC’s to any people who help with app development or anything that helps LBRY reach their vision.
LBRY-C Team, namely us who made this website are also funded by this pre-mine. We were funded through https://lbry.fund.
Who Controls the Premine?
LBRY Inc, the company that made the LBRY Protocol are in control of these LBC’s.
So far, LBRY Inc. has been very careful about using these LBC’s these last two years, so we at LBRY-C Team trust them to continue this responsible management of funds.
However, we wish that in the near future that these funds do not remain in control of a single entity, but is distributed between many other, still responsible entities. Maybe even a LBRY Foundation?
Target Block Time
LBCs generated every ~2min.
Number of blocks mined.
of total LBCs are in circulation
LBCs in circulation right now.
LBCs yet to come into circulation.
Total LBCs that will exist. (~20 year period).
of LBCs have been hardware-mined.
LBCs already hardware-mined.
LBCs yet to be hardware-mined. When empty - miners will only receive transaction fees.
Total LBCs reserved for miners (20 years period).
of LBC Premine has been unlocked.
LBCs unlocked by LBRY Inc.
LBCs locked in LBRY Inc's multisig-wallets.
Premine Funds granted to LBRY-C Team
These numbers are not updated in real-time. They are added manually, and should be considered as approximates.
More up-to-date info can be found at CoinMarketCap.com. A lot of our stats are taken from there.