Luxcore

Luxcore blockchain project

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Luxcore

First of Its Kind

The Luxcore project is a blockchain network that 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 are 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

LUX masternodes

To run a LUX Masternode, a user is required to have 16,120 LUX in  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.

Smart contracts

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.

Trading wallet

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.

LuxSend

This feature will enable instant transactions and an additional layer of privacy.

Multi- signatures

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.

Luxcore products

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.

LuxGate

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.

Parallel Masternodes

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.

dApps

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.

 

Coin specification

Name: Luxcoin

Ticker: LUX

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

Segwit

Smart Contracts

Block Pruning

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

 

Project team

CEO – John Mcafee, Australia email: 216k155@luxcore.io

Growth officer & product development – Cosmin Tudor, Romania – LinkedIn email: cosmin@luxcore.io

Business strategy and planning officer – Hari Sadasivan, Spain – LinkedIn email: hari@luxcore.io

Lead cryptographer – Tanguy Pruvot, Switzerland – LinkedIn

Developer, web/PoS wallet/iOS/Android wallet – Sebastian Berger, Austria email: sebi@luxcore.io

Developer, front-end, UI/UX – Gullaume Huot email: guillaume@luxcore.io

Core developer – Tran Nguyen

Developer, LuxGate and PMN – Maxim Dzekelev email: maxim@luxcore.io

Business program execution and client operations – John Kim email: John@luxcore.io

Technical support and operations – David Wilson email: david@luxcore.io

Testing and documentation – Paul P. email: paul@luxcore.io

 

Roadmap (on September 6, 2018)

2017 – completed

PHI1612 launch

Cryptopia listing

Wallet upgrade

MAC wallet release

Block halving

Rebranding

Company name registration

Trademark application

Marketing partnership

Web wallet

 

2018 – completed

Major wallet upgrade with trading functions

Whitepaper V2.0

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

Smart contract

SegWit

Reward change

Block prunning

“New Algo” PHI2

First advisor on board John Mcafee

 

2018 – in progress

Marketing phase II rollout (influencer, videos, TV, advisors)

Mobile wallets

LuxGate official release

LuxGate / PMN testing & bug bounties

Legal entity formation

Technical whitepaper

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

Pre-mine burn

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.