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First of Its Kind
Luxcore is a blockchain solutions and services ecosystem that focuses on designing and building enterprise-ready security and privacy products. The platform also aims to bring the usage of blockchain to the mainstream by bridging the gap between normal consumers and enterprise users through specific product use-case meant for each.
This project offers a faster, more efficient, more secure and private transaction solution for individuals, institutions, and governments. It presents the most efficient ASIC-resistant GPU mining algorithm that has a faster hash rate with 10% reduced power and heat consumption. The project is open sourced that includes the energy-efficient ASIC resistant algorithm PHI1612 with tradable commodity called Lux Coin. There are also Masternodes that act as network security, rewarding system, Smart Contracts and SegWit (for improved transaction size and malleability).
Luxcore blockchain features are available to the end users at no extra cost. Anyone who uses the commodity LUX Coin can access the blockchain using Luxcore wallets or support the network by mining and earning rewards. As a hybrid chain that supports both Proof-of-Work and Proof-of-Stake, the chain is more secure than traditional ones.
Besides open source products, there is also the list of closed-source products that focus on service providers, enterprises and institutions. In addition to Parallel Masternodes (PMN), LuxGate, PoS Enabled Web Wallet, DApps, blockchain implementation and consulting services.
The Luxcore project also includes solutions for connecting Big Business vs.user or Governments vs.user. These blockchain solutions and IT Services are built to help all three parties by allowing various levels of features and security for the user as required.
Features of the project
To run a LUX Masternode, a user is required to have 16,120 LUX in the wallet. Masternode owners earn rewards for supporting the network and providing the additional services. Currently, the Masternode system is being rewarded 0.4 LUX and the PoS is being rewarded 0.6 LUX for every PoS block created.
SegWit (shortener for Segregated Witness)
In order to introduce higher security, Luxcore project introduces SegWit that allows small modification within a block but not the content. This algorithm allows several signatures in an account with multiple options. This would prepare the way for introduction of the Lightning Network* in future.
This will enable the unification of blockchains through LuxGate and PMN. Contract transactions will benefit from other features like improved scalability, privacy, low fees, and security.
Luxcore wallet will not only be for storing coins but also for trading them. If one will keep LUX coins in exchange, there will not be rewards for PoS (proof-os-stake). But keeping LUX coins in your LUX wallet will give few benefits including trade and rewards.
This feature will enable instant transactions and an additional layer of privacy.
The project will have an option of multi-signatures in an account. No longer will funds be under a single point of control or failure. This gives users yet another level of security while using LUX Coin.
Products of this project are closed source and therefore will be used with licensing or subscription-based model.
PoS enabled web wallet
This project’s wallet is the first and the only PoS Enabled Web Wallet in the blockchain space that does not pool coins for staking. This product is already live and enables staking at 0% energy usage. This is a free service and will remain free. PoS enabled web wallet-as-a-Service will be licensed to other blockchain assets and providers in the market with customizations and service add-ons.
This feature will allow communication between validated blockchains with the ability to perform advanced functions and tasks. For example, the Bitcoin blockchain can engage with Ethereum blockchain or Monero blockchain or Zcash blockchain.
The Parallel Masternodes will be available to only verified and vetted business as well as government institutions and will act as a secure information gateway on the blockchain. Any function like wallet or transaction on the Parallel Masternode will be encrypted with the IP addresses auto-changed. These wallets and transactions are invisible to prying eyes to meet institutional security prerequisites.
This project will develop and deploy both free and freemium model DApps for the end users. These may be used in conjunction with the Smart Contract feature. Custom DApp solutions and business application integration through PMN and LuxGate will enable cross-network usage.
Permission blockchain development & consulting services
Communication between different protocols and networks will be supported by this project. As well as different specific requirements of the customer will be supported.
Max Coin Supply: 60 million
Block Size: 4MB
Difficulty Retarget: Every block Mined
Coins Mature: 100 blocks
Tx Confirmation: 10 blocks
Min Transaction Fee: 0.0001
Default Port: 26969
RPC Port: 9888
Sam Encrypted messaging
Masternode: 16120 LUX
POW Reward: 10 LUX. 8 to miner, 2 to MN
POS 2.0 Static Reward: 1 LUX. 0.8 to Wallet, 0.2 to MN
Minimum Stake Age: 36h
No Maximum PoS age
CEO – John Mcafee, Australia email: [email protected]
Lead cryptographer – Tanguy Pruvot, Switzerland – LinkedIn
Developer, web/PoS wallet/iOS/Android wallet – Sebastian Berger, Austria email: [email protected]
Developer, front-end, UI/UX – Gullaume Huot email: [email protected]
Core developer – Tran Nguyen
Developer, LuxGate and PMN – Maxim Dzekelev email: [email protected]
Business program execution and client operations – John Kim email: [email protected]
Technical support and operations – David Wilson email: [email protected]
Testing and documentation – Paul P. email: [email protected]
Roadmap (on September 6, 2018)
2017 – completed
MAC wallet release
Company name registration
2018 – completed
Major wallet upgrade with trading functions
Luxtre – HD wallet release
PoS enabled web wallet release
Smart contract – dev team closed testing
Marketing phase II (contracts and engagements signed)
Exchange listings CryptoBridge
“New Algo” PHI2
First advisor on board John Mcafee
2018 – in progress
Marketing phase II rollout (influencer, videos, TV, advisors)
LuxGate official release
LuxGate / PMN testing & bug bounties
Legal entity formation
Markeitng phase III
Q3 – Q4 2018
LuxGate and PMN release
PoS Web wallet – as – a – service testing
New exchange listing
New advisors onboarding
Regional offices EU/US
Pos web wallet-as-a-service release & monetization
dApps on Lux chain
Partnerships and enterprise engagements
- Lightning Network – a network that is built on “opened” channels and transactions where is not recorded all blocks like in Bitcoin blockchain. The idea is more similar to existing bank system where money is not moved physically when we make online transactions, it is more like promised and guaranteed. More details about Lightning Network here.