Altcoins
2019 Will Be a Big Year for Luxcore
With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018. Even if that comes to fruition, my advice over the past year remains the same. Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency. One company that meets both of those requirements is Luxcore (LUX).
What is Luxcore?
Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products. The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings. One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.
Exciting Roadmap for 2019
As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent. Luxcore certainly meets that requirement with the introduction of their most recent roadmap.
The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project. With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.
Since many crypto projects have inevitably disappointed the market, offering a fully transparent roadmap is an important step in rebuilding that trust. Luxcore is certainly headed in the right direction.
Revenue Generating Projects
There is no doubt that 2017 created a cryptocurrency frenzy which saw many new companies and projects attempt to enter the space. And while more competition is good, many of these projects simply haven’t panned out the way enthusiasts would have hoped. As we move ahead, only the best will survive. That’s why it’s imperative that blockchain based projects focus on developing solutions that will generate revenue. And then market those solutions to enterprises as opposed to worrying about whether crypto traders will be interested. Luxcore is doing just that.
Although the company has many exciting projects in the queue, the three that have big potential are:
- LuxGate – Peer-to-peer cross-blockchain platform. Alpha release expected in Q2.
- Parallel Masternode Network – Decentralized File Storage system built on Luxcore’s original and unique Parallel Masternode Network. It’s important to note that this development represents an additional on-chain layer which will allow for future development of additional products and services. Beta test is expected in Q2.
- Proof of Stake (PoS) Web and Mobile Wallets – Luxcore already launched the first-of-its-kind staking web wallet. In addition, the company recently released their unique PoS mobile wallet for Android and iOS. By the end of June, Luxcore plans to update both the web and mobile versions of the wallet to support an on-chain token management feature. Once the update and legal agreements are completed, Luxcore will begin to license the combined staking web and mobile wallet solution.
If consumers wish to check out the wallets, they can do so here: Android and iOS.
Optimization of Smart Contracts
In addition to LuxGate and the Parallel Masternode Network, the company’s effort to optimize its smart contract system should pay huge dividends in the future. Although smart contracts are already enabled on the Luxcore blockchain, the company is working on the system in an effort to improve transaction processing speed (TPS). TPS is a big deal and is one of the primary criticisms of Bitcoin (BTC), that it simply can’t go mainstream until it gets faster.
Luxcore will be able to double the processing speed by implementing Proof of Work and PoS hashing functions.
Final Thoughts
Transparency, transparency, transparency. Luxcore has laid out a detailed roadmap listing all the projects, progress, and expected completion dates in 2019. Enterprise users and crypto enthusiasts will be able to monitor the company’s progress as it begins the journey toward becoming a transformative, industry-leading, revenue generating, blockchain solution provider.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.
SOL’s Bullish Cues
Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.
In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.
Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…
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