LEOcoin (LEO) is a private decentralized cryptocurrency and open-source software project that was founded in 2014. LEOcoin is an altered version of Litecoin and used scrypt-Jane as a proof-of-work (POW) and proof-of-stake (POS) algorithm with a modified nFactor. In July 2016 LEOcoin switched to a sole proof-of-stake procedure. Under PoS users are asked to prove ownership of a certain stack of LEOcoins. This makes the LEOcoin network more secure and over time creates new LEOcoin without consuming large amounts of energy.