LUXCoin (LUX) is a well-known cryptocurrency that has implemented the PHI1612 hybrid PoW-PoS algorithm, Parallel Masternodes, and a “Static” staking model. The blockchain basis of LUXCoin is provided by Luxcore, whose primary focus is designing and building enterprise-ready security and other privacy products. The RX2 algorithm provides the technological basis of LUXCore for the development and implementation of its core products.
Aim of the Luxcore
- The primary aim of Luxcore is to overcome the gap between high-grade security and blockchain products, enterprise-level markets, and consumers
- Luxcore also offers a platform allowing users to create products around different use cases in various ways
- With the help of the PMN (Parallel Masternode) system, Luxcore has also planned to release various future updates, such as Segwit, LuxGate, and smart contracts.
Some of the well-known Luxcore products are as follows:
Parallel Master Nodes (PMNs)
PMN is a private network meant to address all the reliable and secure needs of enterprises and institutions.
Properties of PMNs
Parallel Master Nodes are built on i2pd Technology and SAM Protocol which enhances Lux’s security and capability. However, it is essential to note that these Masternodes will be available to verified businesses. Government institutions will act as secure information gateway on the blockchain in this scenario.
Wallets and Transactions on the Parallel Node
The wallets and transactions on the PMN are encrypted with an auto-changed IP address. Hackers cannot see the benefits of these encrypted transactions.
LuxGate is meant for direct peer-to-peer and wallet-to-wallet trades. With LuxGate, there is no need to intervene with a trusted or centralized third party.
Properties of LuxGate
- LuxGate decentralizes trade agreements
- The architecture of LuxGate is distributed via nodes. The quantity of these nodes equals the number of traders connected to the software
- LuxGate is built upon the resilience and immutability of blockchain technology, and it has no centralized points of control or failure
- LuxGate is immune to any DDoS attacks as it allows unlimited network capacity.
POS Web Wallet and Web Wallet-as-a-Service
Luxcore’s PoS backed web wallet is an important Luxcore product.
Alysidia can Help with Blockchain Applications on Luxcore Platform
Alysidia is a blockchain-oriented platform that is helping various industries around the world with blockchain-based applications. The experts at Alysidia are well-versed with the requirements of Luxcore and can help build the blockchain applications on the platform. Enterprises interested in acquiring blockchain applications can contact Aysidia can contact us through our website Alysidia.com.