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 — LUX’s future mining algorithm
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 testnet from the current mainnet and simulating a hardfork just as will happen in the coming weeks. After monitoring the test chain while also running tests using the new algo, we can ensure everything should go smoothly when launched on the mainnet.
Setting a fork date and releasing wallet update
Based on the above tests, we should be setting a fork block/date in the near future. We will have to allow for enough time for pools, exchanges, and users to upgrade their wallets to prepare for the fork. Hard forks are normal and to be expected with blockchain projects with active development and updates. We will release a new wallet before the fork — so stay tuned! Aside from updating your wallet, there are no additional steps normal users have to take. Coins you had before the fork will still be there after the fork. If you do not update your wallet before the fork date, you will not lose any coins you had before, but you may miss out on staking rewards and not be able to send/receive coins until you update your wallet. If you are using the Luxcore PoS Web Wallet you do not have to do anything.
RX2 benchmarks and technical requirements
Our new algorithm has been designed and optimized to ensure a more fair playing field for miners using CPU and GPU hardware, removing any advantage from specialized equipment that may consolidate hashing power. Based on our current testing, here are some benchmarks and minimum recommended specs:
Benchmarks:
Cpu
RYZEN 3900x — 4.6 Kh/s
RYZEN 5950x — 8.10 Kh/s
Gpu
EVGA GTX 1070 — 560 H/s
EVGA GTX 1070 Ti — 660 H/s
ZOTAC GTX 1080 — 650 H/s
MSI GTX 1080 Ti — 890 H/s
GEFORCE RTX 2080 Ti — 1665 H/s
NVIDIA TITAN V — 2000 H/s
* These are some early benchmarks for reference but do not include a full list of hardware. Additional benchmarks will be added later.
Minimum Recommended Specs:
6gb+ RAM
What To Expect From Luxcore in 2021
There is a lot going on behind the scenes and the team is working with renewed focus. We hope the coming updates will build momentum in our community and the crypto market as we release our core products and get more attention for our mission. I hope you caught last month’s AMA (if not, there is a recording posted in the #Announcements channel on Discord). We plan to be communicating much more frequently as we have updates (and we have a lot of updates planned). I won’t spend a lot of time discussing each and every thing we’re working on or have planned (as we will take the time to do that in future updates), but here are just a few things to look forward to:
- RX2 algorithm launch which should reward long-term LUX miners, safeguard LUX against price manipulation, and keep LUX at the forefront of the mining community
- Codebase upgrade to allow for easier/faster development and better/more optimized wallet upgrades
- Luxgate public release to allow users to start trading crypto peer-to-peer, entirely decentralized
- Focus on LUX-chain smart contract/dApps including examples and use cases
- Grassroots marketing efforts to promote our new brand as well as the above products
And honestly these are just a few of the things we are hoping to unveil this year. And before you say we’ve bitten off more than we can chew (I can hear you already!), you should know a lot of work has been put into several of the above items and we are not starting from scratch. Take Luxgate for example. Before COVID and RX2 delays, Luxgate had a working closed beta. Further releases were pushed so we can make sure any public releases work with the post-fork chain. And there are things I can’t even mention yet because discussion and/or research is still ongoing, but there are some exciting possibilities that we are pursuing.
Just know that we greatly appreciate your patience, understanding, and continued support. We will keep on pushing forward with our mission to empower the crypto community with decentralized solutions which are needed more than ever!
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Website: https://luxcore.io/
Facebook: https://facebook.com/LuxcoreTeam
Twitter: https://twitter.com/LUX_COIN
Github: https://github.com/LUX-Core
Reddit: https://www.reddit.com/r/LUXCoin/
Telegram: https://t.me/LUXcoreOfficialChat
Discord: https://discord.gg/luxcore
Bitcointalk: https://bitcointalk.org/index.php?topic=2422372
Finally, please feel free to leave us your feedback, as we always welcome it!
