What is LUKSO (LYXe) | What is LUKSO token | What is LYXe token | What is LYX token

What is LUKSO (LYXe) | What is LUKSO token | What is LYXe token | What is LYX token

LUKSO, the Blockchain for the new digital lifestyle is created by former Ethereum Developer Fabian Vogelsteller, author of ERC20 and ERC725, developer of web3.js and the Mist Browser. LUKSO is a multiverse blockchain network where the worlds of fashion, gaming, design and social media intersect. LUSKO focuses on bringing Blockchain to the masses, through its smart contract based blockchain, industry-involving standards processes and an innovative new direction of decentralized applications. What is LUKSO (LYXe) | What is LUKSO token | What is LYXe token

LUKSO, the Blockchain for the new digital lifestyle is created by former Ethereum Developer Fabian Vogelsteller, author of ERC20 and ERC725, developer of web3.js and the Mist Browser.

LUKSO is a multiverse blockchain network where the worlds of fashion, gaming, design and social media intersect. LUSKO focuses on bringing Blockchain to the masses, through its smart contract based blockchain, industry-involving standards processes and an innovative new direction of decentralized applications.

The LUKSO project started out with an idea by my partner  Marjorie Hernandez in 2017. At the time Marjorie worked at EY building their Berlin Innovation Lab. Here they worked with many clients on Blockchain projects, that got her a good insight in what the Industry at the time was up to in terms of Blockchain.  I followed the Blockchain space myself since 2013 and started actively developing at the  Ethereum Foundation in January 2015. This gave us a great deal of insights into both worlds — the corporate and the open source space of the Blockchain ecosystem. Through that we realized quickly that real-world use cases on Blockchain are about to happen, but at the same time saw how corporations didn’t know how to realize the full potential of an open decentralized infrastructure, as they were rather opting-in for private permissioned Blockchains.

As the initiator of the  ERC-20 token standard and developer of many important projects in the Ethereum space like the  Mist Browser, the  Ethereum Wallet and  web3.js, I thought a lot about how we can get the current world to adopt such a break through technology like Blockchain. As I watched the space evolving it became more and more obvious for me that the future for any industry with Blockchain lies within the launch of their own networks for multiple reasons. I call those networks that are directly started for or by a specific vertical or industry context based Blockchains.

Together with Marjorie’s idea the LUKSO project was born, a public Blockchain specifically launched for the Fashion and Lifestyle industry.

Why a separate network you might ask?

The answer lies in context.

We have seen many alternatives to Bitcoin popping up in 2013, but Ethereum was the first one to bring a new technological context to the Blockchain ecosystem, the one of  decentralized applications (DApps), where I was the (first ever) Lead Dapp Developer. Today we see many new forms of smart contract Blockchains competing with Ethereum and while offering alterations in consensus and architecture, are mostly built around the core innovation from Ethereum, the  Ethereum Virtual Machine (EVM).

While this technological experimentation and competition is important, it brings little concrete steps to current industries and businesses, as they explore their path to a future with Blockchain.

“If you want to bring Blockchain to an Industry, let them start their own.”

This is where LUKSO comes in. Instead of tinkering with private chains (which are surely useful for internal book-keeping and tracking), LUKSO creates a trusted ecosystem for all participants of the Fashion and Lifestyle industry to build, explore and experiment with use cases that are innovative and useful for this industry and require a trust-less middle man.

A public Blockchain allows for anybody to trust its infrastructure and rules, as they are able to run and verify the network. Making it in return ideal for use cases that carry real world value. From monetary value like payments, and custom tokens, to ownership of digital twins and direct communication channels between creators and user of items in the industry.

The network

Creating a separate network also allows for real-world use cases with a large number of available resources, that current public networks can not offer, due to their high demand from all sectors and industries.

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Blocks in the Ethereum Mainnet

Layer two solutions and new architectures like sharding will help improve that scalability, but even with an increase of 1000x in transactions per second it will not suffice for the whole world to run on one single Blockchain any time soon.

Therefore we need separate Blockchains, not only for scalability reasons but for reasons of affiliation, the feeling of belonging — the context.

LUKSO is initially built on the great work done by the folks at PoA.network, which is an EVM based Proof of Authority network. In fact, its Tech Lead Igor Barinov is in LUKSO’s advisory board, as well as Péter Szilágyi the Lead Core Developer of geth, the Ethereum Foundations main network client.

The first iteration of the network will have on-chain governance that will be based on staking and voting of validators in a pool, where we will transition to dPoS in the mid-term. When Casper research solidifies, we plan to transition to a Casper based network that allows sharding, as will the main Ethereum network at that time. The initial LUKSO network will allow for 3–8M transaction per day, or ±100 tx/s, that is enough to run a lot of applications core smart contracts in production. When validator nodes beef up their machines, this number can be increased to 500 tx/s. Sharding will then increase that (not equally) by 1000x.

By using an EVM based Blockchain basis all tools build for the Ethereum ecosystem, as well as all knowledge and tutorials apply equally for the LUKSO Blockchain. This allows for an easy transition of any project from the Ethereum mainnet to the LUKSO Blockchain, if the Fashion and Lifestyle context is a better fit.

DApps

The LUKSO Blockchain allows decentralized applications to deploy and run smart contracts that enable and govern value transfer. This allows for a whole new kind of applications in the fashion and lifestyle industry. Tokens beeing an obvious one. This enables from payments, to dicscounts, to Non-Fungible-Tokens (NFTs) like tickets, rewards and earn-able status.

Setting standards

LUKSO is not only a Blockchain infrastructure but also an incubator for projects, ideas, and standards. We have seen over the last years, and especially 2017 with  ERC-20 tokens, how a standard can create a whole new industry and disrupt and revolutionize processes like crowdfunding! Other standards like Fabian’s  ERC-725 is just being discussed and it already formed an alliance, and might be the next standard to hugely impact the Blockchain space.

The same innovation is direly needed in the Fashion industry, to set standards for digital twins, to verify the origin and ownership of all current and coming items. With standards, an explosion of synergies is created that — on a Blockchain — can move fashion forward to its new digital life!

But thats not all, LUKSO is the base layer for the social web 3.0. Its for the influencers, the instagramers, the Brands, the communities and creatives of this world! Blockchain allows to form verifiable communities and give those communities real value. Thats what LUKSO is meant for, and we look forward to Blockchainify the social web!

The Foundations

LUKSO will introduce standards and tools that will enable a new economy based on Cultural Currencies, Digital Certificates and Universal Public Profiles.

Universal Public Profiles

Blockchain-based user and company profiles enable permanent identifiers in the digital world. They allow for universal login's that make remembering username and password a thing of the past, while giving you full control of all your virtual assets.

Universal profiles make economic and verifiable interactions possible and are the core building block for the new creative economies.

Digital Certificates

By establishing a digital identity for physical and digital products, we enable new forms of digital ownership.

LUKSO introduces an additional digital layer to the ownership of creative goods that make unique characteristics permanently visible. Each product can be linked to a corresponding record of data, bridging the physical and the virtual world and their communities.

Welcome to the new Phygital Ownership.

Cultural Currencies

Tokens are a new form of interest, status, participation, and value on a global scale. They are cultural currencies and attach measurable and transferable value to all socio-creative activity.

Digital tokens can act as the connective medium for lifestyle communities, which makes them valuable, participative, and inclusive.

LYX Distribution

The LUKSO Blockchain will create 100,000,000 LYX in the genesis block at the main-network start.

LYX are sold in diverse private and public sales to foster the ecosystem's growth and decentralization over an extended period.

All LYXe sold during the Reversible ICO and previous IEO, will be migrated to LYX once the network starts.

At the network launch ~48% of all LYX will be in circulation.

diagram

How does the Reversible ICO work?

1. The Reversible ICO ("rICO") allows you to buy LYXe over time, while maintaining the ability to reverse your commitment partially at any point within 8 months.

Instead of buying LYXe instantly like in a regular ICO, the rICO allows you to "reserve" a desired amount of LYXe, which will then be purchased automatically throughout the period of the 8 months at your initial commitment price.

NOTE: Before you have verified your identity (KYC) your price can still change. Should between your initial reservation and your whitelisting the price change, you will reserve automatically in the current higher price stage. If you do not want that, you can always return your ETH immediately.

2.You can return any un-bought LYXe to the rICO smart contract address at any point in time, and you will receive the corresponding ETH back. Unlocked LYXe can not be reversed.

3.The total LYXe balance will be automatically visible in your wallet after you "reserve" and you verified your identity. You will only be able to move and transact with the part of the balance that is finally bought and not reversible.

balance-left1

Disclaimer

Even though the Reversible ICO tries to make buying LYXe as safe and fair as possible, buying LYXe is risky, as the success of the LUKSO Blockchain depends on many factors, including the growth of the developer and user ecosystem around the LUKSO Blockchain. Therefore an investor could lose all or part of his or her investment.

We do reserve the right to change the LYXe prices at any point in time. This will however never affect prices of already reserved LYXe.

The sale of LYX and the Reversible ICO was checked with the regulatory authority of Germany and is in accordance with german supervisory law, yet this does not mean any regulator does endorse LUKSO or this sale. In addition and in accordance with its legal mandate, the examination by the German regulator did not cover the creditworthiness and reliability of the LUKSO Blockchain GmbH. Make your own research and invest wisely.

You should only invest what you are able to lose. Investing in decentralized crypto projects is very risky as many factors are not controllable by the people behind LUKSO.

What is LYX and LYXe?

LYX is the native cryptocurrency of the LUKSO Blockchain, and is required to secure this decentralized infrastructure. It is used to pay for transaction fees and need to be locked (staking) to participate in the block production.

"LYXe" is LYX on the Ethereum Blockchain, and is the token that the Reversible ICO returns.

Once the network starts there will be a migration of LYXe to LYX on the LUKSO Blockchain. Both LYXe and LYX represent the same asset but on different Blockchain networks.

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What is LUKSO Blockchain Platform (LYXE) | What is LYXE token

LUKSO is the Blockchain for the New Creative Economies, dedicated to the lifestyle space. A decentralized ecosystem for brands, innovators and creatives to use and build blockchain applications and to bring innovation to the next level. From authentication of fashion items, purely virtual fashion items, to community tokenization and fundraising mechanisms for creatives, designers and artists. Build and supported by key figures from the Lifestyle and Blockchain space bringing a new digital future unseen today. LUKSO, the Blockchain for the new digital lifestyle is created by former Ethereum Developer Fabian Vogelsteller, author of ERC20 and ERC725, developer of web3.js and the Mist Browser. LUKSO is a multiverse blockchain network where the worlds of fashion, gaming, design and social media intersect. LUSKO focuses on bringing Blockchain to the masses, through its smart contract based blockchain, industry-involving standards processes and an innovative new direction of decentralized applications. What is LUKSO (Blockchain Platform) - LYXE Token?

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