Last month we told you about our plans to perform a codebase upgrade to get LUX’s code up-to-date with some improvements and efficiencies as well as optimize some of the wallet code that benefits advanced users and the Luxcore web wallet. Progress for this upgrade is well underway so we thought it would be a good opportunity to give our community an update on where we are and what’s ahead!
As a reminder, LUX is a Bitcoin-based cryptocurrency (meaning LUX started with the Bitcoin codebase as it’s core). While LUX is very unique and offers a variety of features Bitcoin…
Luxcore is developing a new way to trade LUX! We are very excited to reveal WLUX (Wrapped LUX)! WLUX will be an ERC-20 token that will be traded on decentralized ERC-20 token exchanges (like uniswap.org and matcha.xyz). This new token will bring accessibility and liquidity to existing LUX investors, and open the coin up to a much wider pool of potential investors who may not have utilized existing exchanges where LUX is listed.
What is a wrapped token?
Wrapped tokens represent the value of another asset that exists outside of the Ethereum blockchain but allows investors to hold that value…
Now that RX2 has been released, we can start to talk more about our next updates. One thing on our top priorities list is a codebase upgrade.
LUX Codebase Upgrade
LUX is a Bitcoin-based cryptocurrency (meaning LUX started with the Bitcoin codebase as it’s core). While LUX is very unique and offers a variety of features Bitcoin does not, the core Bitcoin codebase is still there. Bitcoin has made optimizations and other positive changes to its codebase to improve speed and efficiency. These upgrades need to be made in the LUX code as well to improve efficiency of our wallets…
LUX has successfully implemented a major fork at block 1612500. This fork brings with it the implementation of the new RX2 mining algorithm. RX2 should better balance mining to reward our long-term LUX miners and ensure the most fair distribution of mining rewards. This change benefits the entire LUX community as the new algorithm further secures the blockchain, helps safeguard LUX against price manipulation, and keeps LUX at the forefront of the crypto mining community.
It also is a big milestone for the Luxcore team and with this implementation, we can finally refocus our attention to our core products. …
Starting with block 1612500 (estimated February 18, 2021), LUX will be switching to the new RX2 mining algorithm. This update will give you some useful information about how to mine the new algorithm. Note: Ensure the pool you are mining on has updated their wallet as any pool that has not updated before the fork will not be using the new algorithm and mined blocks will not be on the correct chain, meaning you will not earn a share in block rewards. Pool owners should contact Luxcore with any questions about updating their wallets.
The time has finally come! After much development and testing, RX2 is ready for rollout. We have scheduled the new algorithm to kick in at block 1612500 which should take place on February 18, 2021.
We are excited to finally release RX2! With this update, we hope to reward our long-term LUX miners and ensure the most fair distribution of mining rewards. This update benefits the entire LUX community as the new algorithm further secures the blockchain, helps safeguard LUX against price manipulation, and keeps LUX at the forefront of the crypto mining community.
QT Wallet Users
We will release…
2020 is gone (finally!) and we are excited for what 2021 will bring for our project and the LUX community! We wanted to give some updates to what we are working on today and what you can expect from us in the future.
RX2 testnet phase successful
After conducting several stress tests of our new RX2 algorithm implementation (including making adjustments for optimizations and tweaking to our liking), we are progressing to the next step!
Fork simulation testing
The next step for RX2 is simulating mainnet fork to ensure there are no unexpected issues. We will be making a new…
Attention Luxcore Community!
During the last several weeks the Luxcore team has conducted numerous stress-tests and optimizations for our upcoming RX2 algorithm implementation. For complete transparency, below are the results from beginning until present:
Beginning on October 10th, the first test was conducted using only 8 mining rigs. This was the result:
Just as autumn sees the trees exchange their mint-green, crinkly coat of leaves for fiery, crisp foliage, so too does Luxcore. However, our shedding of a deciduous exterior comes in the form of a visual rebrand.
As detailed in our September core update, where we announced the official rollout of Luxcore Technologies, migration to Luxcore.tech, and continued commitment to empowering individuals and businesses, this rebrand is an essential step forward towards realizing the most authentic and present version of Luxcore (which has seen many positive and substantial changes over the past three years).
Attention Luxcore Community!
We are excited to announce that Luxcore is undergoing a full rebrand from “Luxcore” to “Luxcore Technologies.” This rebranding is to best reflect the substantial changes made not only to our dedicated team, but to the Luxcore vision and ecosystem over the last 3 years.
Today’s blockchain landscape is competitive, innovative, and always evolving. A full rebrand enables us to best showcase the values, objectives, and mission that we hold near and dear to us — creating a sustainable, fair, and transparent decentralized ecosystem to empower you, the people.
To best provide value to the Luxcore community…
Luxcore : Empowering People