Why LUKSO?
Why building on LUKSO.
What is LUKSO?
LUKSO is a next-generation EVM blockchain based on Casper PoS that aims to revolutionize the use of blockchain technology in the New Creative Economy. The project was founded by Fabian Vogelsteller and Marjorie Hernandez. Fabian is a former Lead DApp Developer at Ethereum and the author of ERC20 and web3.js, the foundation for today's DeFi and NFT protocols. Marjorie Hernandez is an innovation and product expert who previously created and managed EY's Digital Innovation Lab in Berlin.
LUKSO stands out in Web3 by focusing on the core problems and providing innovative solutions. They have introduced new smart contract standards that enhance the user experience by making it more secure and future-proof. The LUKSO Standards Proposals (LSPs) are the foundation for the LUKSO ecosystem and aim to improve functionality and user-friendliness within the blockchain ecosystem. Furthermore, LSPs standardize identity, asset representation, and smart contract interaction.
The core LSPs are highly extensible, allowing for many new use cases while simplifying the developer and user experience. These standards are generic enough to enable new use cases that have yet to be conceived, making them unbiased.
Universal profiles
Universal Profiles are interoperable blockchain-based profiles that enable verifiable identities in the digital world. They allow for universal logins that make remembering usernames and passwords a thing of the past while giving you complete control of all your virtual assets and identity. Universal Profiles simplifies the onboarding process to Web3 for users, brands, and creators while improving accessibility, security, and functionality. Through the LSP6 Key Manager, different access methods can be added, including access to dApps and other environments. Universal Profiles also improve security for users on-chain by allowing users to react to received assets/tokens (e.g., reject transfers) via LSP1 Universal Receiver. Universal profiles make economic and verifiable interactions possible and are the core building block for the new creative economies.
NFTs 2.0
With LSP8 Identifiable Digital Asset and LSP7 Digital Asset NFT and token metadata inputs, blockchain metadata inputs are very extensible and smart contract readable. The metadata inputs can also be changed over time, allowing NFTs to evolve post-minting. NFTs and tokens on LUKSO can have multiple creators and inform receivers of assets, making complex smart contract automation possible.
Transaction relayer service
The LSP6 Key Manager allows for relay transactions, enabling third parties to pay for a user's transaction fees (GAS). Any future transaction relay service can be set to work with Universal Profiles. Relay services are backend systems that execute users' transactions on their behalf, and no initial funds are needed for users to use their Universal Profiles. LUKSO will subsidize early adopters by running a public relay service, allowing anyone to interact with the LUKSO blockchain without complexity.
The blockchain
LUKSO is a Proof of Stake (PoS) blockchain that uses 99% less energy than blockchains that use Proof of Work (PoW), as no competitive hash generation is used to find consensus on the latest canonical blockhead. LUKSO is EVM compatible, which means the execution engine is fully compatible with all Ethereum tools, and developers familiar with the Ethereum toolchain (web3.js, ethers.js, truffle, etc.) can easily use it. LUKSO is not a competitor to Ethereum; it is more like a sibling for a different space that aims to bring blockchain technology to millions of new users. LUKSO aims to simplify the onboarding process, increase security, and allow dApps to be built for a whole new audience.
Universal Page
That is why Universal Page decided to build on LUKSO. With new smart contact standards, we can provide the user experience needed to take Web3 to the next level. We can make digital ownership accessible to everyone. We can make transactions without billing the user and allow creators to build an on-chain reputation with NFTs 2.0. We are building the platform for the next generation of NFTs, and that is only possible with a next-generation user experience, which we can provide by building on the building blocks provided by LUKSO.
Simplifying Web3 for Mass Adoption
The two essential focus points for more widespread adoption of blockchain applications.
The Trouble with Starting in Web3 and How to Solve It.
The onboarding experience for new people using blockchain applications is terrible. Imagine recommending a friend mint a free NFT at some platform, and think of all the hoops this person needs to jump through to get started.
Buy Orders - a new way of handling offers for LSP7 NFTs.
With Buy Orders, you can set the price, choose the quantity you want to buy, and place your order. As a seller, you can choose to fulfill these orders. If you own one NFT, you can accept the highest order anytime.