LUKSO (LYXe) Coin Review : It is Good Or Bad Review 2021

About LUKSO (LYXe) Coin

LUKSO (LYXe) Coin is a Blockchain infrastructure, providing a series of standards and solutions for physical and digital consumer goods, in order to foster transparency, circularity and new forms of responsible production and consumption. LUKSO is the next project by the creator of ERC-20 and ERC-725, a network dedicated to moving Blockchain beyond DeFi. LUKSO will introduce standards and tools that will enable a new economy based on Cultural Currencies, Digital Certificates and Universal Public Profiles.

LUKSO (LYXe) Coin Reversible ICO is a concept by LUKSO founder, and former Ethereum lead dApp developer Fabian Vogelsteller. It allows to reserve tokens and buy them over time without price risk (You will get the same ETH back that you put in. Yet you can only reverse un-bought LYXe). As tokens are gradually bought, exposure to LYXe is predictable. Sending returnable LYXe back to the rICO smart contract returns the equivalent of ETH back to the sender. See the chart in the how-to section for more. Note Movable LYXe are bought and can not be returned. You can check the status of your LYXe on the balance page.

LUKSO (LYXe) Coin If you reserve LYXe at any point during the buy phase (month 1-8), you will simply have a shorter buy phase. The rICO ends for everybody at the same time, so if you reserve LYXe in months 2, you are buying your reserved tokens over 6 months (8 – 2 = 6 months), instead of 8 months To prevent anti-money laundering or terror financing we need to check the identity of every participant. This is a legal requirement. We will not use this data, or share it with anyone else. The personal data is stored by Fractal ID for an extended period. For this reason we are required to exclude the following countries: US, CN, AF, BA, ET, GY, IR, IQ, KP, LA, PK, LK, SY, TT, TN, UG, VU, YE, RU, TR, CY, MT, VG, KY, BM, GG, JE and IM We will keep your e-mail address in our database to be able to notify you once the LYXe migration process starts.

LUKSO (LYXe) Coin Storage Key Points

Universal Public Profiles

LUKSO (LYXe) Blockchain-based user and company profiles enable permanent identifiers in the digital world. They allow for universal login’s that make remembering username and password a thing of the past, while giving you full control of all your virtual assets. Universal profiles make economic and verifiable interactions possible and are the core building block for the new creative economies.

Digital Certificates

By establishing a digital identity for physical and digital products, the enable new forms of digital ownership. LUKSO introduces an additional digital layer to the ownership of creative goods that make unique characteristics permanently visible. Each product can be linked to a corresponding record of data, bridging the physical and the virtual world and theircommunities. Welcome to the new Phygital Ownership.

Cultural Currencies

LUKSO (LYXe) Tokens are a new form of interest, status, participation, and value on a global scale. They are cultural currencies and attach measurable and transferable value to all socio-creative activity. Digital tokens can act as the connective medium for lifestyle communities, which makes them valuable, participative, and inclusive.

LYX Distribution

The LUKSO Blockchain will create 100,000,000 LYX in the genesis block at the main-network start.
LYX are sold in diverse private and public sales to foster the ecosystem’s growth and decentralization over an extended period. All LYXe sold during the Reversible ICO and previous IEO, will be migrated to LYX once the network starts. At the network launch ~35% of all LYX will be in circulation.

How does the Reversible ICO work?

LUKSO (LYXe) Reversible ICO (“rICO”) allows you to buy LYXe over time, while maintaining the ability to reverse your commitment partially at any point within 8 months. Instead of buying LYXe instantly like in a regular ICO, the rICO allows you to “reserve” a desired amount of LYXe, which will then be purchased automatically throughout the period of the 8 months at your initial commitment price.

Before you have verified your identity (KYC) your price can still change. Should between your initial reservation and your whitelisting the price change, you will reserve automatically in the current higher price stage. If you do not want that, you can always return your ETH immediately.

2 You can return any un-bought LYXe to the rICO smart contract address at any point in time, and you will receive the corresponding ETH back. Unlocked LYXe can not be reversed.3 The total LYXe balance will be automatically visible in your wallet after you “reserve” and you verified your identity. You will only be able to move and transact with the part of the balance that is finally bought and not reversible.

Maximum Contribution Amount

LUKSO (LYXe) Yes, you need to buy at least for 0.1 ETH and you can buy for a maximum of 4000 ETH. want achieve a fair distribution, so no one investor should own more than 2% of the network. 10M LYXe will be sold initially. The second half of the 20M LYXe will be sold based on demand, and added to the rICO smart contract at a later stage. Should the demand not exceed the initial 10M LYXe, then the second half will be added to the reserve pool.

Algorithm

LUKSO is planned to use a Honey Badger Byzantine Fault Tolerant (HBBFT) consensus algorithm with a delegated Proof of Stake consensus running in smart contracts (PosDAO).

Gas or Gas Limit

When you execute an transaction on Ethereum (or later LUKSO), each computation in this transaction does requires a fixed amount of gas. gas is not a token itself, but rather a unit like “liter”. The final fee in ETH is then calculated using gas * the gas price you supply with your transaction. For your reference: a normal transaction on Ethereum requires 21,000 gas.

LUKSO (LYXe) more complex your transaction, the more gas you will need to supply, otherwise wise you can “run out of gas”, which means your transaction fails, and the network keeps all the transaction fee. The reason for this is to prevent spam on the network, and pay for computation. But if your transaction succeeds you will only pay for the actual computation and do not consume all gas you provide. If you commit funds to the rICO for the first time, your gas requirement is high, as your vault needs to be created within the rICO smart contract. Later contribution should be cheaper.