LUKSO is a multiverse blockchain network where the worlds of fashion, gaming, design and social media intersect.
Art Credit to: Rox @iconoclasticoon
Virtual Reality Powered by Lukso
Blockchain technology can help create new virtual worlds. Especially when transitioning from physical items to virtual goods, cryptocurrencies and leverage their advantages. LUKSO maps physical commodities to virtual networks through “digital twin” technology and uses blockchain technology to ensure authenticity and uniqueness in virtual commodities. Plus, by configuring chips traceable on the network, the LUKSO blockchain allows physical commodities to be tracked, bringing a new virtual reality to the fashion and lifestyle industry.
The LUKSO founders envision a “internet of blockchains”. Multiple blockchains serving different purposes for different communities. LUKSO aims to establish itself as the de facto blockchain standard for the creative economies, allowing creators and developers alike to build and participate in the beginning of a New Digital Economy.
Fabian Vogelsteller, LUKSO’s founder, authored the ERC-20 token standards, which opened up the ICO wave in 2017. In addition, Fabian is also responsible for some other renowned open-source projects, like Ethereum’s first decentralized web3 browser Mist, Ethereum wallet, and web3.js library, the most used developer tool in the Blockchain community.
Vogelsteller’s co-founder Marjorie Hernández is LUKSO’s CEO, architect, strategist and innovation consultant. She joined Ernst & Young in 2015 and established an innovation lab, before founding LUKSO project in 2018. Now serving as CEO, Marjorie is responsible for LUKSO’s concept, design, operations, and product development.
This architecture not only brings compatibility to the Ethereum space and its tooling through EVM execution — a goal that was imperative since we started the LUKSO idea. But is also able to use the most advanced and decentralized Proof of Stake algorithm running today: Casper FFG — The only PoS system that can run with over 70k validators!
By combining an execution environment (Catalyst) with a beacon chain running Casper FFG, LUKSO will likely become the first ETH 2.0 Blockchain to execute smart contracts, even before Ethereum itself.
Initially, this architecture will only run with one shard, as it provides enough throughput while the LUKSO network is growing in popularity for the next 2+ years.
Our current tests show a Transaction Per Second average of ~245 TPS (peak of ~450 TPS), which is more than 20x than the current Ethereum mainnet. These are early non-optimised tests, we’ve used only 25 chainhammers with medium hardware spec nodes to reach this limit, so there is still a lot of room for improvement.
We will launch the L16 public test network to test the networks stability over time, and will then launch the Mainnet when we consider the test network stable.
We will release all the information about the LYXe → LYX migration, staking and procedures as soon as we get closer to the Mainnet launch in Q2 2022.
The ephemeral-testnet (L15)
We are currently running an ephemeral-testnet, which is used to test the L16 testnet setup and tools. This network can not be considered stable and is frequently reset.
5) What was the rICO?
Reversible ICO (rICO) is a new form of ICO proposed by LUKSO founder Fabian Vogelsteller in 2018. In a rICO, investors reserve tokens, which then are automatically purchased over a period of time (8 months). During this time, the investor can choose whenever they want to return tokens still within their reserve time at any point and redeem the corresponding amount of ETH.
There are approximately $4.6m LYXe Tokens that weren’t sold in Public Sale 1st batch and $10m Tokens not sold in 2nd batch. The team’s communication is that these tokens will go back to the Genesis Block for future distribution to brands/partners.
Currently you can buy Lukso on KuCoin or Uniswap, but a Tier 1 Exchange is RUMORED to launch with Mainnet, but timing is up to the exchange so any delay is not on Lukso’s behalf. No communication is public information of which exchange.
Tier 1 Exchanges: Binance, Coinbase, Kraken, Huobi, Bittrex, Etc.
Lukso advisor board is packed with extremely powerful and connected people in fashion and technology. All of these advisor and/or companies are under NDA and no official announcements will be made until mainnet launch. For speculation and potential partnerships, please read Lukso - Partnership & Predictions
