LUXCORE | FIRST OF ITS KIND | SMART CONTRACTS | SEGWIT | PARALLEL MASTERNODES | LUXGATE


FIRST OF ITS KIND
SMART CONTRACTS  |  SEGWIT  |  PARALLEL MASTERNODES  |  LUXGATE
Featuring a new GPU algorithm built from; Skein, JH, Cubehash, Fugue, Streebog and Echo.
Welcome to the most GPU efficient blockchain available.

Luxcore is a blockchain solutions and services ecosystem that focuses on designing and building enterprise ready security and privacy products. The Luxcore platform relies on the ground-breaking PHI1612 algorithm fuelled blockchain to develop and implement it’s core product offerings. This includes the open source blockchain token of value, Lux Coin & the enterprise consumer focused, closed source products like LuxGate and Parallel Masternodes.

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.

With the upcoming releases, apart from being a secure crypto coin, Luxcore will introduce Segwit, Smart-Contracts, LuxGate through the innovative Parallel Masternode System providing a Private Network for enterprises and business on top of the existing Masternode feature for the Public Network.

LUXCORE FEATURES
1. MASTERNODES
A Lux Masternode is a 24/7/365 dedicated server connected to the blockchain network which adds an additional layer of stability and two additional levels of functionality to the network. The additional functions are increased transactions speeds and enablement of LuxSend.

To run a Lux Masternode, a user is required to have 16,120 LUX in a wallet. Masternode owners earn rewards for supporting the network and providing the additional services. Masternode rewards are 40% of the Proof of Stake block and are randomly paid to the Masternode Owners who support the network.

2. SEGWIT
Through the introduction of SegWit, Lux will separate transaction signatures. This is achieved by stripping the signature from within the input and structuring it to the end of a transaction. This ensures higher security as it prevents the receiver from intercepting and modifying the sender’s transaction ID in a bid to get more coins from the sender as the data is “detached” from the transaction.

With a current block size of 4MB and block time of 60 sec, the addition of SegWit will effectively increase transaction size and address transaction malleability issues currently plaguing blockchains. This will prove critical in the scalability of the Lux blockchain.
SegWit introduction is currently planned for 20th of February 2018.

3. SMART CONTRACTS
Lux will introduce Smart Contract capability that will enable the unification of blockchains through LuxGate and PMN. These Smart Contracts can be deployed directly from the wallet and can trigger cross network transactions and tasks based on pre-defined conditions.

This will enable the technical scaling of the network to build Enterprise DApps on the Lux chain.
Smart Contracts will be deployed along with the introduction of SegWit release.

4. LUXSEND
LuxSend is a form of coin-mixing that provides an additional layer of privacy. The Coin-mixing service provided by the Lux Masternode network will ensure trust-less mixing of coins to obfuscate their origin, wallet details and addresses.

5. TRADING WALLET
Stake your coins and trade them too! Exchanges are not the safest place for your Lux and when your Lux coins are on the exchange you will not receive the PoS reward. The Lux trading wallet allows you to trade your coins directly from your wallet.

6. MULTI-SIGNATURE TRANSACTIONS
With a view on security in mind, Lux will have multi-signatures enabled that ensures all concerned parties are required to authorize a transaction, if so required. No longer will funds be under a single point of control or failure.

This gives users yet another level of security while using LuxCoin. Some use cases of Multi-Signature Transactions:

1-of-2 Signatures can authorize the transaction. A couple may share a joint Lux account and have two separate signatures. Either of the two is sufficient to authorize a transaction. 2-of-2 Signatures: A couple share a joint account, but both parties’ signatures are required to authorize a transaction, thus preventing one party from spending the Lux without the approval of the other. The number of Signatures can be as large as needed to protect the account and allow for sufficient oversight. For example, Lux development and business funds will be held in multi-sig accounts requiring 2-5 or 3-5 Signatures.

LUXCORE PRODUCTS
PARALLEL MASTERNODES (PMN)
The enablement of this private network is aimed to address reliable and secure needs of enterprises and institutions.

This feature is built on the revolutionary i2pd Technology and SAM Protocol thus enhancing Lux’s security capability. The Parallel Masternodes will only be available to verified and vetted business and government institutions and will act as a secure information gateway on the blockchain. Any 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 pre-requisites.

LUXGATE
LuxGate is nothing short of a technological marvel in the blockchain space. LuxGate will allow communication between validated blockchains with the ability to perform advanced functions and tasks.

In simple layman terms, LuxGate, with the help of PMN acts as a unifying bond between blockchain ecosystems. For example, the Bitcoin blockchain can engage with Ethereum blockchain or Monero blockchain or Zcash blockchain for that matter.

LUXGATE & PARALLEL MASTERNODES
FUNCTIONALITY & HIGH LEVEL USE CASES
LuxGate will be able to interact with centralized functions (eg: banking institutions) along with the PMN private network, which will act as an autonomous system to act on behalf of the function. Luxcore will provide the required technology assistance and consultancy services to setup PMN and will support the deployment of the private network for private institutions. These networks will be centralized trustworthy environments and will be verifiable by the customer to validate legitimacy of the transactions.

With the help of this functionality Luxcore aims to disrupt the traditional banking transactional systems as LuxGate and PMN can work cross algorithm and will be system agnostic compared to other blockchain competitors in this space.

A specific feature from a security perspective is the ability of LuxGate and PMN to strengthen two layers of differing safety algorithms to be unified at a combined strength level.

From a use case perspective, if an institution has two layers of firewall security A & B, with each layer of different security strength, with A at 300 points and B at 200 points (a total of 500), with LuxGate enabled, each level will have a combined strength of 500, bringing the total difficulty to 1000 points.

LuxGate and PMN products are currently work in progress and is expected to be ready for stress testing in late Q1 2018.

POS WEB WALLET & WEB WALLET-AS-A-SERVICE
LUXCORE’s PoS enabled Web Wallet will be a key product offering and will remain free for LUX Coin Users.

We plan to license and monetize this as PoS enabled Web Wallet-as-a-Service by the end of the year to other blockchain assets and providers in the market with customizations and service add-ons. The Licenses and Service options for the PoS Web Wallet-as-a-Service will be available for purchase using LUX Coin, thus adding value to the LUX Coin economy.

RESOURCES & GUIDES - DOWNLOAD WALLETS