The following is not financial advice.
Welcome to back The Scoop!
This is the next post at a place where we share analysis and opinions for interesting coins, tokens and pure gems in the vast landscape of the blockchain world. There's so many coins out there, but not a lot of free information (looking at you, paid groups) and analysis on them. The Scoop aims to change that by sharing and improving the data available for a given coin by focusing on evaluating instead of predicting.
What is Luxcoin?
Luxcoin doesn't lay claim to "first of it's kind" lightly. It's new GPU algorithm, static staking rewards and fast transaction protocol get the job done and more.
Static rewards for staking: doesn't matter how many coins you hold, you get 1 LUX. But if you hold more coins, you get rewarded more often. They don't have some fluff plans to eventually have a product, they want 2018 to be THE year and have already completed a lot, leading to their much deserved growth over the last few months.
Super productive roadmap:
https://luxcore.io/roadmap
Quick Technicals
Algo: GPU Phi1612
Block time: 60 seconds
Block size: 4MB
Block reward: 10 LUX
Where's the wallet?
https://github.com/216k155/lux/releases
Along with the whitepaper:
https://luxcore.io/LUX_WP_V1_NOV_2017.pdf
New more detailed, technical whitepaper coming soon.
How many of them are they?
CMC says ~837k circulating with a total supply of 3.8m and max 60m.
Who's the team?
Full stack from executives to developers to community managers to various engineering and architecture roles. They even have someone testing and documenting the products, which is quite rare and a very good thing. Bonus: they have another person doing security with actual industry experience. Another very good sign.
More profiles:
https://luxcore.io/team
What motivates them?
Maybe we missed it in the docs, but there seems to be a ~3m premine total. Clarifications welcome!
Marketcap and Competitors?
With a ~36m marketcap, there's a lot of room for growth here. Just under 5m daily volume is no joke.
Not a ton of similar projects since this LUX is so unique, but let's give it a shot...
- Ark ($ARK) -> ~853m
- Verium ($VRM) -> ~18m
How is LUX different?
The staking is certainly different and many people will probably go for it because of that. Really high on the team behind LUX, it does seem like they're setup for success. They are doing all the small things the right way, too. This one could be around for a while.
More details at Bitcointalk:
https://bitcointalk.org/index.php?topic=2422372
Pros
- super team
- vision
- solid products
- great website
- masternodes (all the rage)
Cons
- ambitious (must deliver)
- competition
Any constructive criticism?
Just minor nits; block explorer could be nicer (showing nodes, etc) and github looks like it's on the personal devs account instead of a more official looking Luxcoin one. Other than that, everything looks pretty solid.
Where is it traded?
Cryptopia is the sole exchange at this time. One certainly expects that to change.
https://www.cryptopia.co.nz/Exchange?market=LUX_BTC
The Final
Based on the FA, LUX looks like a medium risk with high reward potential if they continue to deliver and catch on. Picking it up under 2600k sats would be bargain or around $50 would be an upper entry while still expecting solid, crypto-style gains.
And that's your scoop!