|Aug 09, 2018 10:44 PM||By: Art Vasquez | 5745 Views|
John McAfee’s latest crypto project development is a plan called Luxcore — a decentralized cryptocurrency exchange that says they are leading to implementing SegWit, master nodes and smart contracts, along with its native coin.
Decentralized exchanges are not new, and the interests are widely known. These combine low cost and quick transactions, direct transfers to and from hardware wallets and improved security as they are harder to compromise immediately. Luxcore is introducing additional points beyond those benefits such as ‘LuxSend’ – a feature that provides extra privacy by doing its master nodes to obfuscate the issue of coins and wallet addresses.
Luxcore is one of the very few systems that have achieved SegWit support, which helps in comparing Litecoin and Bitcoin. It has also introduced better protection measures by combining separate transaction marks for both the sender and the subject of funds. The design of the platform means to increase scalability in the crypto world and begins with a 60-second block time and 4MB block size.
The program also uses smart contracts and expands them straight from the wallets of the users. This then promotes cross-network transactions based on predefined requirements.
McAfee Praises Luxcore
In an August 6, interview, John McAfee stated:
“Luxcoin, for example, today came out with their smart contract of functionality on the Lux network. now that’s an amazing network, by the way, with parallel nodes, with privacy, the lux gate, and they are coming out with a decentralized exchange, and I think it will be one of the first distributed exchanges that functions using the atomic swap feature.”
McAfee sees excellent potential in the Luxcoin currency as well. He has entered the plan as an advisor. Currently, it is being traded on just four exchanges — Cryptopia, TradeOgre, CryptoBridge, and Yobit — none of which are very public exchanges. It is the 524th cryptocurrency in the world by market cap, valued at $5.1 million.
The plan will first start its mobile wallet and PoS web wallets, supported by the first decentralized apps, which is scheduled for a Q4 launch.