Lynx is a new Crypto project that is solving and tackling one of the biggest problems in crypto-currencies and that is the cost to maintain and run the network normally called, “mining.”
AN ECO-FRIENDLY CRYPTOCURRENCY
Bitcoin’s business rules and energy requirements create an over-reliance on fossil fuels; Lynx does the opposite and strives to solve this problem. For cryptocurrency to be considered a secure platform for exchange in today’s global marketplace, it must be created with global sustainability in mind.
GLOBALLY SUSTAINABLE NETWORK
Unlike Bitcoin, the Lynx code discourages high-volume mining rigs because the code purposefully lacks incentives to mine it for profit. As a result, the entire Lynx network is designed to operate on a collaboration of low power devices that anyone can run, resulting in a collective global mining cost of only dollars a day.
From Lynx’s white paper:
LYNX CREATED THE HYBRID PROOF OF WORK SOLUTION. LYNX BUSINESS RULES ENCOURAGE THE USE OF LOW-COST COMPUTING (LIKE A RASPBERRY PI WHICH ONLY CONSUMES AROUND 3 WATTS OF ELECTRICITY) TO MINE THE COIN. AS A RESULT, THE ELECTRICAL COST TO MAINTAIN THE LYNX NETWORK IS A FRACTION OF BITCOIN’S, YIELDING A LOW ENVIRONMENTAL IMPACT. THE EMPHASIS ON LOW-COST COMPUTING ALSO CREATES A MORE DECENTRALIZED, BROAD MINER BASE WHICH STRENGTHENS THE STABILITY AND SECURITY OF THE CURRENCY. AND, THE EASY-TO-USE TOOLS AND BROAD MINER BASE CREATES A MORE EQUITABLE CRYPTOCURRENCY THAT ANYONE CAN USE FOR GENERATIONS TO COME. LYNX WAS DESIGNED TO HAVE MINIMAL ENVIRONMENTAL IMPACT BECAUSE IT’S COMMITTED TO CREATING GLOBAL SOLUTIONS AND MAINTAINING A SMALL CARBON FOOTPRINT.
FOR A CRYPTOCURRENCY TO BE CONSIDERED ECO-FRIENDLY29, THE ELECTRICITY REQUIREMENTS TO RUN THE GLOBAL NETWORK (INCLUDING THE HARDWARE AND SOFTWARE) MUST HAVE A MINIMAL IMPACT ON THE ENVIRONMENT.30 TO ENSURE ENVIRONMENTAL SUSTAINABILITY, LYNX DEVELOPED HYBRID PROOF OF WORK (HPOW). LYNX HPOW STILL USES POW BUT MODIFIES IT SO IT ISN’T PROFITABLE AND, AS A RESULT, CREATES AN ENTIRE CRYPTOCURRENCY NETWORK THAT CAN RUN ON ENERGY EFFICIENT, EASY TO SET-UP, LOW-COST COMPUTERS OR CLOUD SERVICES. THIS REMOVES ANY BARRIERS TO ENTRY FOR NON-TECHNICAL INDIVIDUALS OR ORGANIZATIONS WHO WANT TO GET INVOLVED WITH, SUPPORT, AND BUILD APPLICATIONS ON A STABLE AND SECURE CRYPTOCURRENCY PROJECT.
FROM THE LYNX WHITEPAPER:
HTTP://CDN.GETLYNX.IO/2018-06-18_LYNX_WHITEPAPER.PDF
Lynx is listed on CoinMarket Cap here: https://coinmarketcap.com/currencies/lynx/
Watch Ben Wilson the founder of LYNX speak on The Future of Cryptocurrency: Overcoming the Limitations at a recent blockchain conference: