LUKSO is a blockchain platform specifically created for the lifestyle industry, providing a decentralised innovation and trust infrastructure for fashion brands, start-ups and customers. It offers the foundation for new forms automated economic interactions and sustainable ownership management.
LUKSO is a multiverse blockchain network where the worlds of fashion, gaming, design and social media intersect. LUSKO focuses on bringing Blockchain to the masses, through its smart contract based blockchain, industry-involving standards processes and an innovative new direction of decentralized applications.
Tokens & NFT 2.0
The current standards representing fungible and non-fungible tokens (NFTs) are limiting the NFTs and token industry as they lack standardization and many powering features.
The lack of standardization can be seen through each NFT or token standard implementing its own interface with its own function names. This leads to having multiple token contracts deployed on networks, implementing different interfaces, and being non-interoperable between each other.
As for features, these standards are just representing incremental tokenIds without proper metadata, asset representation, standard interaction between sender and receivers, and no security measurements to ensure safe asset transfers.
Tokens & NFT 2.0 is a collective name for the new token and NFT standards LSP7-DigitalAsset and LSP8-IdentifiableDigitalAsset. These replace ERC20 and ERC721, which you would usually use on other networks.
Frequently Asked Questions
What is LUKSO?
LUKSO is a Blockchain network dedicated to existing and coming digital lifestyle use cases. It will be running with a Casper consensus algorithm (PoS) combined with an Ethereum Virtual Machine (EVM) execution engine. The main network is planned to launch in 2022.
How to stay up to date about LUKSO?
You can follow us on Twitter, read our Medium articles and follow the announcements on our Discord server.
What is LYXe and LYX?
LYX is the native cryptocurrency of the LUKSO Blockchain and is required to secure this decentralized infrastructure. It is used to pay for transaction fees and needs to be locked (staking) to participate in the block production.
“LYXe” is LYX on the Ethereum Blockchain and is the token that the Reversible ICO returned.
Once the LUKSO mainnet starts, there will be a migration of LYXe to LYX on the LUKSO Blockchain. Both LYXe and LYX represent the same asset but on different Blockchain networks.
Why LSPs are not proposed as ERCs?
The LSPs are part of a larger set of core standards that are all interoperable and cohesive together. Nonetheless, they do function equally for any EVM chain, the ability to make these standards understood requires a less noisy and neutral place, than the current ERC space.
Therefore, we deem a separate repo (LIPs/LSPs) as necessary for the success and transparency of these new sets of standards, many of which use ERCs (ERC165, ERC173, ERC725) as a core basis.
Official website: https://lukso.network/