LuxCoin Introduction - Founded in 2017 (NO ICO)

By CryptoAddict | Crypto Projects | 17 Oct 2019


Luxcoin


”Bridging the gap between consumers and enterprises!”


Luxcore is building an ecosystem which allows enterprises to employ blockchain benefits such as privacy and security  solutions on. This ecosystem makes use of the PHI2 algorithm fueled by blockchain technology. Luxcoin is the blockchains virtual currency, used to pay for Luxcore services and finance transactions on the blockchain.

Luxgate is a protocol which uses the Parallel Masternodes from the LUX network to perform cross-blockchain operations between multiple ecosystems. This allows users to exchange funds peer-to-peer in a decentralized way. Luxgate protocol will be available in the Luxwallet. Luxgate protocol facilitates in real-time transactions across different blockchains and swaps the assets (coins or tokens) of the peer-to-peer transaction. This eliminates the need to have assets deposited on a centralized exchange wallet. This implies that users of the Luxgate protocol will always have ownership over their coins, so no funds are at risk by being on-exchange. The Luxgate protocol will be available in the near future, and will be integrated within the downloadable Luxwallet. At this very moment Luxgate is in beta testing phase.

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Luxcore has developed the Lux web wallet it’s the first of its kind. The Proof Of Stake (POS) function within the online wallet is what makes it unique. Users who hold their Luxcoin on the web wallet, are automatically staking their coins. There is no need to run any hardware whatsoever, holders are receiving free Luxcoin with each obtained stake (0.8 Luxcoin per stake). In order to ensure the safety of the web wallet users, two factor authentication (2FA) has been implemented in the system.

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Dapps are being built by the Luxcore developers, these will be available for free or offered as freemium. The business related DApps will be developed according to the needs and demand of enterprises. Therefore there will be DApps that may exclusively be used by enterprises either on their public or private chain.

 

*This was a small introduction to a project called Luxcoin. I have been following them since early 2018 and really like their work ethic and delivery of products. I will keep this updated

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