Lynx

Lynx

Lynx LYNX Rank #-

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Learn how to buy Lynx (LYNX) Token - Project explained, price and risks

Lynx Exchanges

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FreiExchange NVC/BTC -
Lynx was launched on December 24, 2017 by a team based in Charlotte, North Carolina, and aims to create a stable, green platform for application developers to use to archive and verify critical data. The open source blockchain Lynx is used by the for-profit company Logware to store data where immutable transparency is a key factor (e.g. IoT sensors, transaction receipts, data loss prevention) for cases of use of encrypted and clear applications. (started as a downstream clone of Litecoin), the team believes that for blockchain to be considered a secure platform in today's market, it must be built with global sustainability in mind. Therefore, their business rules discourage high-volume mining hardware because the code deliberately lacks an incentive to mine it for profit. Additionally, the entire Lynx network is designed to run on a collaboration of low-power devices (such as Raspberry Pis) that can be run by non-technical users every day, resulting in a total global mining cost of just dollars per day. This includes mining the coin and confirming transactions. To achieve this, the lead engineering designer created "Hybrid Proof-of-Work" to solve four main problems related to standard Proof-of-Work (PoW). Mainly, PoW encourages competitive and profit-oriented mining. Second, competitive and profit-oriented mining requires the use of high-powered and expensive computing processes to protect the network. Third, high-powered and expensive processing power is a barrier to entry for people who want to get involved in mining the currency. This creates an unfair hierarchical system based on who can afford high powered mining hardware and the electrical costs associated with it, and as a result, few miners control the entire network. Fourth, mining farms are filled with mining hardware that consumes an ever-increasing amount of electricity. Hybrid Proof-of-Work reportedly brings stability to Lynx and maintains network integrity due to: The low cost of maintaining mining hardware on Lynx's global network. The low work output of discrete mining hardware on the global Lynx network. The Lilliputian impact on the global Lynx network in the event of an acute mining hardware failure. More technical information can be found in the latest version of the white paper (written by Ben Wilson and Dr. A. Carreiro, published on March 17, 2019). It includes information on basic coin parameters, HPoW activation steps, and the block validation process. The white paper also includes information for non-technical users.