Lynx Blockchain
  • Welcome
  • Technical Evolution and Architecture Overview
  • History of Lynx
    • Evolution of a Blockchain
    • Hybrid Proof of Work (HPoW) Protocol
    • Pioneering Blockchain Data Storage
    • Evolution to Proof of Stake
    • Next Generation Data Storage Architecture
    • Preserving Knowledge
  • Lynx Core
    • Hardware and System Requirements
    • Lynx Dynamics
    • Open Source
    • Core Parameters and Strategy
    • Sustainability
    • Circulating Supply Analysis
    • Locked Addresses
    • Data Storage
      • auth
      • fetch
      • fetchall
      • store
      • status
      • list
    • Understanding the Encryption Option
    • Understanding Lynx Staking Wait Times
    • Understanding Asset Retrieval Times
    • Understanding Block Time Targeting in the Lynx Blockchain
    • Understanding the Lynx Blockchain Statistics Report
  • Lynx Administration
    • Public Peer Nodes
    • Understanding Blockchain Bootstrap Files
      • Bootstrap Extraction Script
      • Bootstrap Creation Script
    • How to Sweep a Lynx Wallet
    • Enable/Disable Staking
  • Clevver
    • Revolutionizing Digital Preservation
    • Permanent Storage for Digital Assets
    • Permanent Digital Archives for Journalism
    • How did Clevver originate?
    • Shortened URL Support
    • Assigning Tags to Assets
    • How to delete content
    • Clevver Terms of Service Agreement
  • Clevver API
    • Public Methods
      • Batches
      • Files
      • User
  • ElectrumX
    • Lynx ElectrumX nodes
    • Build Script Details
  • External Links
    • Lynx Explorer
    • Lynx Github
    • Lynx Uptime Report
    • Clevver Website
  • Lynx Bootstraps
  • Wallet Links
    • Komodo Wallet
    • Wally.id Wallet
    • Lynx Paper Wallet
  • Social Links
    • Lynx Discord
    • Lynx on Bluesky
    • Clevver on Bluesky
  • Exchange Links
    • FreiXLite (LYNX/LTC)
  • FreiExchange (LYNX/BTC)
  • Komodo Wallet (SWAP)
  • XredX (LYNX/LTC)
  • XredX (LYNX/DOGE)
  • XredX (LYNX/IL8P)
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  1. Lynx Core

Lynx Dynamics

Published: August 2024 | Last updated: January 2025

PreviousHardware and System RequirementsNextOpen Source

Last updated 3 months ago

The Lynx blockchain is a permanent data storage platform. The Lynx cryptocurrency is created (by a process called staking) and destroyed (by a process called burning) to pay for the permanent storage of computer files. The computer files or digital assets (the 'payload') can be anything from a simple text password, PDF, JPG, audio files, movie files, or an encrypted compressed backup file. Lynx is designed to make stored files accessible long after the creator is gone.

Lynx is designed to outlive us.

The Lynx blockchain shares cryptocurrency features with traditional blockchains like Bitcoin, such as the ability to send and receive and for individuals to stake (both the verification process of data storage and the creation process of new Lynx cryptocurrency). The overwhelming usage of the Lynx blockchain involves permanently storing digital assets. Lynx is not competing with Bitcoin, has little concern for the fluctuating price of Lynx, and does not try to hide transactions that occur on its blockchain from outside review. It is the transparency of the Lynx blockchain that reinforces confidence in its use. When stored, a file can be independently accessed and verified by anyone without fees or permission.

In economics, a commodity is a basic good or raw material interchangeable with other goods of the same type. Commodities are usually inputs in the production of other goods or services. The primary characteristic of a commodity is its uniformity or standardization, meaning that a given quantity of the commodity is essentially identical regardless of its source. This makes commodities fungible and tradable in markets where the commodity's price is determined largely by supply and demand.

The Lynx coins are burned or destroyed when storing data. This makes the Lynx coins much like a commodity such as natural gas or crude oil. Yes, some entities buy and sell them, but Lynx cryptocurrency has a use. In the case of crude oil, after processing and transportation, it can be used to ship goods, heat homes, and build products. Lynx coins are very much the same. They are created by stakers and sold on open markets to, ultimately, the individual or company that is storing data on the Lynx blockchain. The coins are 'burned' (destroyed), like gasoline is burned in a shipping vessel, to complete the cycle of data storage. The coins are destroyed, meaning they aren't held by anyone anymore, are inaccessible, and can't be used again, much like gasoline.

Lynx coins have value. Several factors contribute to price discovery, including supply and demand dynamics, market participants' expectations, and the availability of information.

The Lynx blockchain uses a creation and verification process called Proof of Stake. This is a highly efficient, low-energy usage process that creates Lynx. Anyone can stake Lynx on even the most simple computer. Unlike Bitcoin mining and gasoline creation, creating Lynx does not negatively impact the environment by creating heat, using excessive electricity, or generating an abundant amount of e-waste (junk computers).

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