With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018. Even if that comes to fruition, my advice over the past year remains the same. Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency. One company that meets both of those requirements is Luxcore (LUX).
What is Luxcore?
Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products. The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings. One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.
Exciting Roadmap for 2019
As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent. Luxcore certainly meets that requirement with the introduction of their most recent roadmap.
The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project. With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.
Since many crypto projects have inevitably disappointed the market, offering a fully transparent roadmap is an important step in rebuilding that trust. Luxcore is certainly headed in the right direction.
Revenue Generating Projects
There is no doubt that 2017 created a cryptocurrency frenzy which saw many new companies and projects attempt to enter the space. And while more competition is good, many of these projects simply haven’t panned out the way enthusiasts would have hoped. As we move ahead, only the best will survive. That’s why it’s imperative that blockchain based projects focus on developing solutions that will generate revenue. And then market those solutions to enterprises as opposed to worrying about whether crypto traders will be interested. Luxcore is doing just that.
Although the company has many exciting projects in the queue, the three that have big potential are:
- LuxGate – Peer-to-peer cross-blockchain platform. Alpha release expected in Q2.
- Parallel Masternode Network – Decentralized File Storage system built on Luxcore’s original and unique Parallel Masternode Network. It’s important to note that this development represents an additional on-chain layer which will allow for future development of additional products and services. Beta test is expected in Q2.
- Proof of Stake (PoS) Web and Mobile Wallets – Luxcore already launched the first-of-its-kind staking web wallet. In addition, the company recently released their unique PoS mobile wallet for Android and iOS. By the end of June, Luxcore plans to update both the web and mobile versions of the wallet to support an on-chain token management feature. Once the update and legal agreements are completed, Luxcore will begin to license the combined staking web and mobile wallet solution.
Optimization of Smart Contracts
In addition to LuxGate and the Parallel Masternode Network, the company’s effort to optimize its smart contract system should pay large dividends in the future. Although smart contracts are already enabled on the Luxcore blockchain, the company is working on the system in an effort to improve transaction processing speed (TPS). TPS is a big deal and is one of the primary criticisms of Bitcoin (BTC), that it simply can’t go mainstream until it gets faster.
Luxcore will be able to double the processing speed by implementing Proof of Work and PoS hashing functions.
Transparency, transparency, transparency. Luxcore has laid out a detailed roadmap listing all the projects, progress, and expected completion dates in 2019. Enterprise users and crypto enthusiasts will be able to monitor the company’s progress as it begins the journey toward becoming a transformative, industry-leading, revenue generating, blockchain solution provider.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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