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.
Mainstream adoption of cryptocurrency has been accelerating rapidly over the past few years. It has been a bumpy ride so far, though, with many characterizing this pioneering, disruptive technology as “the wild west.” Issues like hacking, fraud, theft, country-wide bans, market manipulation, downtime, and so much more have each beset the cryptocurrency marketplace time and again.
Millions of dollars’ worth of crypto have already been lost during the first half of 2019 as a result of hacks, thefts and other losses that have taken place at centralized exchanges. Countries like China, Jordan and India have responded by imposing strict regulations, restrictions and bans against cryptocurrency.
As a blockchain solutions provider specializing in security and privacy products, Luxcore has been working towards addressing the problems created by centralizing cryptocurrency marketplaces. Our innovative approach to cryptocurrency exchange is to build a truly trustless peer-to-peer marketplace for the people. Our goal is to build a feeless, decentralized, secure exchange that puts people first and is wholly absent of centralized control and corporate greed.
LuxGate enables direct peer-to-peer, wallet-to-wallet trades without the intervention of any trusted or centralized third-party. Not only does LuxGate decentralize trade agreements, but the architecture itself is distributed through at least as many nodes as there are traders connected to the software. LuxGate has no centralized points of control or failure, built upon the resilience and immutability of blockchain technology.
LuxGate will have zero downtime, guaranteed. Its truly decentralized design is immune to DDoS attacks and offers limitless network capacity. When centralized exchanges sag under network load amid heightened demand, LuxGate is your insurance policy against missing out when markets move fast.
Many exchanges now use “decentralized” or “DEX” as a buzzword with no understanding of or appreciation for what it really means. Most so-called DEXs are would be better characterized as a hybrid exchange - a centrally-controlled platform operating on the blockchain. But of course, anything that relies on central control or is exposed to single points of failure cannot legitimately claim to be decentralized.
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.LEARN MORE