One of a Kind Blockchain Solutions and Services Ecosystem LuxCore Kick-Starts the New Year with Massive Updates

One of a Kind Blockchain Solutions and Services Ecosystem LuxCore Kick-Starts the New Year with Massive Updates

One of a Kind Blockchain Solutions and Services Ecosystem LuxCore Kick-Starts the New Year with Massive Updates

Bitcoin Press Release: LUXCORE is a unique Enterprise focused Blockchain Ecosystem and it’s open source public blockchain asset, LuxCoin has the potential to become a leading cryptocurrency due to the implementation of new features including Smart Contracts and SegWit aimed at enhancing the blockchain’s usability and transaction speeds.

January 10, 2018, Sydney, Australia – LUX have made recent announcements about upgrades include the addition of smart contracts allowing users to create pre-defined contracts and the implementation of SegWit and providing revolutionary layers of security and privacy through it’s upcoming closed source products LuxGate and Parallel Masternodes. Given these recent announcements, LuxCoin has made considerable growth in recent days solidifying its place in the cryptocurrency market.

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Introduction to LUX

By providing customers with a faster, more efficient and more secure transaction solution LUX creates a more profitable service for individuals, enterprise and governments. LuxCore incorporates a new GPU PHI1612 algorithm built from: Skein, JK, Cubehash, Fugue, Streebog and Echo. PHI1612 boasts the most efficient ASIC resistant GPU mining algorithm to date with faster hash rates while reducing the power needed by 10%.

Many cryptocurrencies use a Proof-of-Work protocol which is incredibly inefficient with time and energy. By adopting both Proof-of-Stake and Proof-of-Work and further enabling Masternodes as well, LuxCore can minimise the time and power needed to complete transactions being made which further increases the ability and scale of LuxCore. LUX would like to give customers a choice in the levels of security and privacy to suit their individual needs.

Segwit for LUX – A New Era

Segwit is currently planned to be introduced around the 20th of February, 2018. Segwit is the process by which the block size limit on a blockchain is increased by removing signature data from transactions, this frees space up extra space which allows for more transactions to be added to the chain.

This new function will separate transaction signatures which ensures a higher level of security as the data is “detached” from the transaction.  This prevents the receiver from intercepting and modifying the sender’s transaction ID which can in some circumstances allow them to receive more coins. SegWit will be a critical addition for the scalability of the Lux blockchain which already contains numerous groundbreaking features to draw in new customers.

Getting Smart with Smart Contracts

Smart Contracts will be able to be deployed directly from the wallet which can trigger cross network transactions and tasks based on predetermined conditions. Smart Contracts will help users exchange in a transparent and conflict-free manner while avoiding the need for a middleman. This will help end users to digitally trigger, authenticate, or enforce the negotiation or performance of a contract.

LUX Masternodes

Any computer which is mining or staking a cryptocurrency is considered a node. In LuxCoin’s case, one can also run a 24/7 dedicated Masternode, backed by a collateral, allowing owners to earn rewards for supporting the network because they add a layer of stability and security to the network by verifying blockchain transactions.

To run a Masternode an owner must possess at least 16,120 LuxCoins in their wallet. These rewards are named Proof-of-Service rewards which is derived from 40% of the proof-of-stake (PoS) and are randomly distributed to Masternode owners. As of this moment owners are rewarded 0.4 LuxCoin and the PoS is being rewarded 0.6 LuxCoins for every block found. The team also has plans to revamp the reward structure for incentivizing and rewarding the Masternode owners.

Extra Layers of Security

LuxCore’s blockchain has been built to have the capacity for Parallel Masternode on a Private Network which will run alongside the public network. The revolutionary concept that bridges the two networks together is called the LuxGate. LuxGate will allow communication between validated blockchains or algorithm with the ability to perform advanced functions and tasks. With LuxSend, which is a form of coin-mixing, users have the choice to mask their transaction information.

Another feature are multi signature wallets, providing another layer of security which requires all the concerned parties to authorize the transaction which can combat fraudulent and unintended transactions providing individuals and enterprises alike with a stronger sense of security.

LuxCoin Growth

Over the past few days LUX’s price has grown considerably which highlights the fact that it is being adopted by users and becoming increasingly popular. The potential for LuxCoin keeps on growing with the upcoming announcements boosting its credibility. The price of LUX was close to 8$ last week and since then has increased to just under 30$ which means it has made significant growth since the new announcements have been made. If the coin follows this recent trend LuxCoin will be a staple cryptocurrency and LuxCore an enterprise platform to reckon with.

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Cryptocurrency Benefits and Drawbacks

Cryptocurrencies make it less complicated to transfer price range among two events in a transaction; these transfers are facilitated via using public and private keys for security functions. These fund transfers are executed with minimum processing prices, allowing users to keep away from the steep fees charged by maximum banks and monetary institutions for twine transfers.

Valuable to the genius of bitcoin is the blockchain it uses to store an internet ledger of all the transactions that have ever been carried out using bitcoins, imparting a statistics structure for this ledger that is uncovered to a restricted hazard from hackers and can be copied throughout all computers running bitcoin software. Many professionals see this block chain as having important uses in technology, which includes online voting and crowdfunding, and major monetary establishments along with jp morgan chase see capacity in cryptocurrencies to decrease transaction fees with the aid of making fee processing greener.

But, because cryptocurrencies are virtual and do no longer have a valuable repository, a digital cryptocurrency stability may be worn out by a laptop crash if a backup copy of the holdings does no longer exist. When you consider that charges are primarily based on deliver and call for, the price at which a cryptocurrency can be exchanged for another forex can differ widely.

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Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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