LUXCOIN New PHI1612 PoW/PoS Hybrid,PrivateSend and LUXNodes

A blockchain originally block chain is a continuously growing list of records,called blocks, which are linked and secured using cryptography.Each block typically contains a hash pointer as a link to a previous block,a timestamp and transaction data.By design,blockchains are inherently resistant to modification of the data.It is an open,distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks.Once recorded,the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks,which requires collusion of the network majority.

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.Official Website https://luxcore.io

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.

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

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
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.
Smart Contract
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.
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.
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.
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.

Mining LUXCOIN
POS Details
LUX PoS is Static not Dynamic,dynamic rewards a % based on the amount of coins you hold which can cause those that hold less, to wait days or even weeks for rewards.Our system rewards a static 1 LUX to all staking, regardless of the amount of coins.Those that hold more coins are rewarded more often.This allows for all individuals staking to be rewarded, without long waiting times due to others large weight.Which means having your wallet open and staking is a great way to increase your coins.