Table of Contents:
- What Can You Do With Your PoS Mobile Wallet?
a. Staking LUX With Your PoS Mobile Wallet
b. Securing Your Funds Via the LUX Mobile Wallet
c. Heightened User Control When Transacting
- Walkthrough: How to Use the LUX PoS Mobile Wallet
3. Final Thoughts
Hello Luxcore community and readers! We’re excited to announce the rollout of our new Luxcore Proof-of-Stake (PoS) Mobile Wallet for Android/iOS a follow up to our already first-of-a-kind PoS web wallet for storing your LUX. At Luxcore, we’ve been striving to bridge the gap between everyday users and highly technical concepts which otherwise would have been just a mere buzzword for most.
Instead of watching from the outside, Luxcore users can jump right in and start having a direct hand in the Luxcore ecosystem’s distributed consensus and function. Settlement and execution of Luxcore storage and transactions are now literally at your fingertips, enabling you can send and receive LUX on the go, all the while remaining confident that your funds and information are protected.
You can download the LUX Coin PoS mobile wallet for both Android and iOS here.
- Android Download Link:
- iOS Download Link:
Before we get into exactly what you can do with our versatile and highly functional PoS mobile wallet, let’s take a quick look at our revolutionary LUX PoS Web Wallet, which was released in April, 2018.
Luxcore PoS Web Wallet Features
In early 2018, we rolled out our first-of-a-kind, free, web-based PoS LUX wallet, for users seeking a secure medium to store and stake their LUX. This secure and highly functional wallet saw the implementation (and combination) of a variety of features, including:
- LUX staking (fixed at a 1LUX rate for all stakers) ,
- Two factor authentication (2FA),
- Stress functionality and security,
- Viewing of LUX in USDT and BTC,
- Seamless registration via email addresses or Google single sign-on (SSO),
- Ability to import/export private keys.
Thanks to the LUX PoS web wallet, users are no longer required to leave their computer open to generate LUX rewards — and, PoS maturity is achieved in just thirty-six hours (meaning users can get started right away).
Coupled with extremely high degrees of decentralization — through the deployment of both Amazon Web Services (AWS) and numerous parallel nodes — and increased control for LUX users — through user retention of their private keys — and there’s no wonder why the LUX PoS web wallet is the perfect wallet for LUX and crypto users of all backgrounds (novice, expert, or somewhere in between).
You can read up further and try our PoS web wallet here.
Now, let’s take a look at what you can do with the Luxcore PoS Mobile Wallet for Android/iOS, its respective features, and how it differs from our other LUX wallets.
1. What Can You Do With the Luxcore PoS Mobile Wallet?
Our newly released Luxcore PoS Mobile wallet and its features can best be broken down into three distinct categories; staking, security, and user control/storage — all three of which are fundamental essentials for a highly functional and accessible crypto wallet.
All three features accompany the most fundamental feature of the mobile wallet — the ability to send and receive LUX Coins and transact in a seamless manner.
Let’s first take a look at our first feature; mobile wallet staking.
Staking LUX With Your PoS Mobile Wallet
- Quick & easy staking setup,
- Stake LUX on the go,
- Reduced carbon footprint
- Static LUX staking rewards,
- Auto combine small inputs for a better experience, and
- Email/mobile notifications of new stake.
Not only does Luxcore’s PoS mobile wallet leave a smaller carbon footprint than other traditional PoS web wallets — through it’s employment of the PHI2 hashing algorithm — it also authorizes users to generate LUX stakes without having to run their computers 24/7. LUX users are now able to stake LUX on the go, without ever having to worry about tending to their computer.
Do note that if users send LUX Coins to an address which already exists with a web wallet, they will need to wait for 36 hours for maturity before staking commences. However; if users import their private key to the web wallet, with already matured LUX Coins, then one may start staking within just two hours.
As opposed to dynamic rewards staking systems utilized by a large percentage of PoS blockchain projects, whereby users are rewarded based on the amount of coins a user holds, Luxcore approaches payouts in a more equitable manner, instead opting for a static staking rewards system.
Simply put, all LUX stakers receive the same payout, fixed at a 1LUX rate (with 80% going to the staker, and 20% being awarded to the masternodes). However, LUX holders who HODL more LUX, will receive more frequent payouts. And, for stakers looking for an overall efficient and better staking experience, the mobile PoS wallet auto combines small inputs.
Users may also enable email and mobile notifications for new stakes, to be alerted anytime new LUX is earned. Users can also authorize push notifications to their phone when they receive a stake. Furthermore, like the PoS web wallet, PoS maturity is reached within merely thirty-six hours, so LUX users are able to start staking LUX for free almost instantaneously.
What are you waiting for? Get started now by downloading the LUX Coin PoS mobile wallet here.
- Android Download Link:
- iOS Download Link:
Securing Your Funds Via the LUX Mobile Wallet
- User control of private keys,
- Ability to import/export private keys, and
- Two factor authentication (2FA).
One of the most impressive and revolutionary security features of the LUX PoS mobile wallet is the ability of LUX users to remain in complete control of their private keys. Luxcore users can import and export their private keys directly with the mobile wallet, instead of ever having to send funds from wallet-to-wallet. This ultimately cuts down and saves on network fees.
Additionally, when LUX holders are finished using a mobile wallet address, they’re able to export and delete their private key from the server. All you need to do is select the address you want to export or export and delete, enter your respective authenticator code (if ultimately enabled), and voilà, your private key is now deleted from the server along with all corresponding addresses.
Play the video here: https://youtu.be/pMxs4uhmjgw
Email verification is also available when exporting private keys, resulting in increased security and surveillance of funds.
That’s not all. The new LUX PoS mobile wallet also boasts two-factor authentication (2FA), so users can implement an extra security barrier for accessing funds. When utilizing 2FA, we generally recommend opting for Google Authenticator or Authy and other time-based code applications, rather than SMS, as there have been several high-profile breaches of SIM swapping in the past few years.
Do note that SMS 2FA is not supported for the Luxcore PoS mobile wallet.
Heightened User Control When Transacting
- Fingerprint/Face/Email verification,
- Coin control via address selection,
- Advanced sending option, and
- Email verification & notifications.
Luxcore users can rest assured they’re in complete control of their LUX funds when sending and receiving LUX Coins. All crypto wallet users should be able to control their transactional footprint, meaning some users might want to avoid giving other LUX holders a direct look into their total balance and transaction history.
At the forefront of our push towards heightened user control and accessibility is the option for users to use either:
- Face authorization, or
- Email verification to secure their transactions on the mobile wallet.
Luxcore mobile wallet users may turn on email, face, and fingerprint verification for all transactions, enabling LUX users to verify all outbound transactions before they are finalized. Users will also receive real-time log-in alerts in case a malicious third-party has accessed their account and is attempting to send funds.
Luxcore’s ‘Advanced’ sending option merely requires LUX senders to input the intended recipient address, along with the amount of LUX to be sent. Fees are automatically calculated, authorizing a quick and painless transaction. LUX senders may also utilize the ‘Coin Control Option’ to select which addresses they’d like to send their LUX Coins from. Most notably, users are able to select the precise address within one’s wallet to send LUX Coins from, and distribute the amount sent across several addresses.
Finally, when sending funds, the LUX mobile wallet will always strive to send the minimum amount of coins needed for the transaction, so that a user loses the minimum amount of staking coins and does not have to wait for them to re-mature for 36 hours before staking again.
2. Walkthrough: How to Use the LUX PoS Mobile Wallet
Curious about how to utilize the PoS Mobile Wallet’s fingerprint and face authorization to execute a LUX transaction? Check out this short video tutorial!
Step 1: Click on ‘Send’ & Input Recipient’s LUX Address
To start, simply open your mobile Luxcore wallet, and click on ‘Send Transaction’. After doing so, you’ll be presented with the following:
Simply input the LUX address of your intended recipient, and make sure to double check it!
Step 2: Decide Between Advance Sending & Coin Control
As we noted above, LUX senders and users can decide between an ‘Advanced’ option, where senders need only input the intended recipient address and amount of LUX to be sent , and the ‘Coin Control’ option, where senders are able to attach an extra level of control when sending LUX coins.
When utilizing the ‘Coin Control’ sending option, LUX users are able to specify the input addresses they want to send their LUX from. The selected inputs will show your LUX Coins available across all addresses — an extremely useful tool for users storing LUX across several addresses.
We generally recommend choosing ‘Use Minimum Funds Possible’ when you’re not sending your entire LUX balance. Users may also choose the address which address their unspent LUX will be sent to.
Step 4: Verify Your Outbound Transaction Via 2FA & Email
Once you click ‘Send’, you’ll be prompted to enter your 2FA code, which will be generated by your time-sensitive app or SMS. Users can then verify the transaction by email, fingerprint, or face authorization.
Step 5: Viewing Your Transaction in the New Luxcore Blockchain Explorer
Once you’ve verified your outbound transaction via email, you’ll be provided the transaction ID (TXID) where you can view your transaction ID and track your recent LUX transaction in the new Luxcore Blockchain Explorer.
You can read up further about the new Luxcore Blockchain Explorer’s features by checking out our past blog post here.
3. Final Thoughts
If you’re looking for a reliable, secure, and highly functional mobile wallet to store your LUX, look no further. Our PoS mobile wallet for Android/iOS has arrived. Head on over to our website to download it for both Android and iOS, and get started today!
Remember, never keep an amount of LUX on an exchange that you aren’t comfortable losing. And, once you’ve accumulated an amount of LUX you aren’t comfortable parting with (due to exchange closing, hack, or other malicious attack), it’s time to start moving your LUX to a desktop wallet, web wallet, or mobile wallet (Android / iOS). Start staking your LUX Coins for free today!
Curious about what other features the Luxcore team is rolling out this 2019? Head on over to our newly updated roadmap to see what we have in store for you and the blockchain ecosystem.
Bitcointalk — https://bitcointalk.org/index.php?topic=2422372
Please feel free to leave us your feedback as we always welcome it!
- The Luxcore Team