Developed by Luxcore, LUX (LUX Coin) is a hybrid cryptocurrency that uses proof-of-stake and proof-of-work algorithms to improve the security and decentralization of the blockchain. Luxcore's hybrid consensus model uses masternodes to provide specialized functions and further protect the chain while providing additional rewards to coin holders. The LUX blockchain allows developers to use smart contracts and decentralized applications. Luxcore continues to develop products for the LUX blockchain, including Luxgate (a decentralized, trustless peer-to-peer exchange) and Luxedge (a decentralized software development platform and repository). LUX was created in 2017 as a fork of the Bitcoin code base and aims to introduce new innovations and services to the broader cryptocurrency community with decentralized and cross-chain solutions.