LUKSO (LYX)
Rank #1109
Market snapshot
- Price
- N/A
- Market cap
- N/A
- 24h volume
- N/A
- Circulating supply
- N/A
- Total supply
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- Max supply
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What is LUKSO?
LUKSO is a blockchain network that focuses on creating a new standard for digital identity and social interactions. As a Layer 1 blockchain, it operates independently and is built on Ethereum's technology, enabling compatibility with existing Ethereum applications and tools. LUKSO aims to facilitate the development of decentralized applications that cater to the needs of creators and communities.
How LUKSO works
LUKSO operates as a Layer 1 EVM blockchain, which means it uses the Ethereum Virtual Machine (EVM) without modifications. This design allows LUKSO to support Ethereum tools seamlessly, enabling developers to build and migrate applications between LUKSO and Ethereum networks. The blockchain is structured to address specific challenges faced by existing ERC standards, such as improving security and interoperability for tokens and NFTs.
Key information
- Symbol
- LYX
- CMC rank
- #1109
- Network / platforms
Ethereum
- Categories
- N/A
- Date added
- May 25, 2020
Contract address
Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.
Ethereum
0xc210b2cb65ed3484892167f5e05f7ab496ab0598
Key characteristics
LUKSO introduces a holistic set of new blockchain standards that are EVM compatible, enhancing the functionality of digital assets. It is designed specifically for social, cultural, and creative applications, making it suitable for various use cases in the digital ecosystem. LUKSO’s architecture allows for easy integration with existing Ethereum tools and applications, promoting broader accessibility for developers.
Documented uses
LUKSO has introduced new blockchain standards to resolve issues with existing ERCs, such as enhancing token/NFT approval security and improving metadata capabilities. It also addresses interoperability challenges between different ERC standards. Additionally, LUKSO provides a relayer API that enables users to send transactions without needing to hold native tokens for gas fees, streamlining the user experience.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is LUKSO (LYX)?
- LUKSO (LYX) is a Layer 1 EVM blockchain designed for social, culture, and creators, utilizing an unmodified version of Ethereum.
- How does LUKSO operate?
- LUKSO operates as a Layer 1 EVM blockchain, allowing developers to use Ethereum tools to build and port applications seamlessly.
- What are the technical features of LUKSO?
- LUKSO introduces new blockchain standards that are EVM compatible and designed specifically for social and creative applications.
- What are the risks associated with transferring LUKSO (LYX)?
- Users should verify the contract address and network, handle private keys, and be aware of the volatility of digital asset prices.
- Where can I find official resources for LUKSO?
- Official resources for LUKSO can be found on their website at https://lukso.network/ and their technical documentation at https://docs.lukso.tech/.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
