Core Parameters and Strategy
Lynx uses Bitcoin v25 code with modifications in line with our Tech Strategy outlined below.
In December 2023, Lynx will be a 10-year-old blockchain project. The name, mining algorithm, and project objective have changed, but the entire blockchain history from Dec 2013 remains intact.
A few points about the Lynx Blockchain project.
- 1.While the cryptocurrency functions of Lynx remain intact, this project's primary focus is on-chain data storage. The long-term strategy priority of the Lynx project is based on blockchain data storage, not cryptocurrency development. We are not competing with Bitcoin.
- 2.The heat generated globally by traditional Bitcoin Proof of Work mining is shameful. The world is on fire, and Bitcoin miners are not helping. Any new software development must concern the environment. While Lynx's previous Proof of Work design significantly reduced energy consumption and heat output, the new Proof of Stake design is even better. We put aside our love (and ego) of our previous method to create a better version for the environment.
- 3.The new version of Lynx is based on the latest version of Bitcoin, except we swapped out the energy-wasting functions of Proof of Work and implemented an LWMA (linear weighted moving average) Proof of Stake algorithm. The new version of Lynx is very low-cost to run and leverages all the security and latest features of Bitcoin Core. It is extraordinarily lightweight, consumes very few resources, and occupies a small footprint on computers that can run unnoticed in the background.
- 4.We modified the block time, size, and other core functions to accommodate generational data storage. The new design stores data more efficiently than the old method and is backward compatible.
- 5.The latest version of Lynx can run on the least expensive VPS computers available in the cloud and the least costly Raspberry Pi devices. Full support for MacOS, Windows, and Linux will remain. Setting up a Lynx node takes minutes with almost zero configuration.
- 6.Full support for hardware wallets Ledger, Trezor, and Atomic Dex. Electrum and traditional exchange support will remain.
Lynx blockchain parameters are listed below.
- 1.The target block time for the Lynx blockchain is 5 minutes.
- 2.The block size is 5 megabytes.
- 3.The block reward maturity time is thirty blocks.
- 4.The block reward for miners is 1 Lynx + fees.
- 5.The 1 Lynx is burned per megabyte stored.
Last modified 2mo ago