Lucas sat down with our partner platform Bitrue to discuss LOX Network’s development, future plans, and how to get started with your own blockchain project. Check out the highlights from LOX x Bitrue’s recent AMA.
This is an adapted transcript of a live AMA. You can listen to the full recording here.
Shawn: Hey everyone! Welcome to another edition of Bitrue’s Twitter AMAs. In this edition of Bitrue AMA, we sit down with the CEO of LOX Network, Lucas. LOX Network is developing the next generation of wireless device security. With fully decentralized networks that place the power of device ownership fully in the hands of owners, LOX Network aims to bridge digital and physical ownership of wireless devices through their unique dual NFT proof-of-ownership model for improved security, tracking, and safety. Shawn: What is LOX Network currently working on?
Lucas: Right now, we’re focusing on getting the LOX hybrid blockchain right before anything else. Alongside this, we’ve been working hard on our LOX app, which has grown leaps and bounds in just a few short months. We also have other exciting projects ready to come into the fold—stay tuned!
Shawn: Why did you decide to work with Bitrue?
Lucas: Bitrue is the friendliest XRPL exchange on the market, and has grown with the XRP community. We chose Bitrue because of its support for LOX over the years. In fact, we were one of the first XRP tokens on the Bitrue platform!
Shawn: How has your experience been working with Bitrue? Lucas: Bittrue’s C-Level executives have been nothing but supportive and are always on hand to answer any questions that the LOX team has. They’ve given us the ability to offer more staking and rewards to our customers, benefiting us both in the long run. I’d like to take this opportunity to thank Bitrue for all their hard work and congratulate the team on their achievements over 2022.
Shawn: Can you share with us more about your token utility?
Lucas: LOX Network has its own native currency known as “LOX”. All transaction fee costs between users, other payment costs, and distribution of payment incentives among different sections of the LOX ecosystem are all done with the LOX currency. In fact, 1 billion LOX tokens have been created already.
Shawn: With the current turbulent market conditions, where do you think crypto is headedand why? Lucas: Let’s make one thing clear. The future of blockchain technology shouldn’t be judged on the current cryptocurrency market state. Instead, we should consider the potential of blockchain. It’s a proven technology that isn’t yet being utilized to its fullest potential. My personal take is that blockchain is the future, and will revolutionize technology use.
Shawn: Do you have any upcoming news or developments you wanted to share?
Lucas: MetaLOX is our most exciting development currently. Although it's still in the conception phase, we’re excited to bring users a multi-planet metaverse where users can play, trade, and earn. Keep up to date with us for future MetaLOX updates.
Shawn: Do you have any advice for our listeners wanting to start and build their own projects?
Lucas: Starting a new blockchain project is always going to be a rollercoaster, and there’ll always be ups and downs. Luckily at LOX we’ve had a lot of ups, but the downs can be challenging to deal with, so you need to go in with your eyes open.We’ve spent significant time building our team and navigating towards our end goal. My most important advice would be to encourage people to consider how blockchain will fit their needs, and how you’ll implement your project. Use theseconsiderations to steer your decision making in the early stages of your project. If blockchain is the answer for your developments, we’re here to advise you and support you in any way we can.
Shawn: Thank you for joining us! It’s been great getting to know more about LOX Network. If you are excited about what LOX Network is building, be sure to download the Bitrue app to start trading $LOX tokens today!
LOX Network is a developer-friendly ecosystem with a community-centric platform, where users can vote on important decisions and get rewarded for participation.
Using our hybrid blockchain technology, users can develop their own applications and deploy them to the platform. This empowers other projects, businesses, and institutions to develop similar applications alongside our very own SmartLOX security app.
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