17 May, 2022
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Start of week update

17 May, 2022

What a moon that was! Not all of us were on the right side of the planet to see it, so if you got some amazing shots, please tag us on Twitter to share!

Photo from https://twitter.com/SPACEdotcom/status/1526074268295041024

And with the passing of the eclipse, here’s to hoping we have a great week ahead! Let’s start off with a congratulations!

Most Influential CEO

We are pleased to announce that our own CEO, Lucas Collins, was awarded the 2022’s Most Influential CEO – London by CEO Monthly magazine! Lucas has poured his heart and own money into this project after working for years in the mobile phone industry and recognizing the need for a decentralized IMEI blacklist. Lox Technology has grown significantly since it’s founding a little more than a year ago and the hybrid network has expanded it’s goals under his leadership. Countless hours in hundreds of meetings have gone into Lox Technology’s development, partnerships and exchange listings while coordinating and managing a staff and support team of 34 people to make it happen.

Not to mention taking feedback from our #LoxFamily!

Check out the article here and pass on your congratulations when you get the chance!

Tech Stack

Speaking of development, we ironed out the issues with the consensus models from last week and can continue where we left off.

As for Lox Network’s tech stack, here’s a brief summary of what we’re working with. Expect to see this published in our GitBook relatively shortly and expanded in greater detail. We’re working through 30 or so repositories. Some — like the blockchain — are open source. Others are closed as they are proprietary and developed specifically for our apps. These closed repositories will obviously remain closed to the public, but open sourced repositories will be publicly available. Here’s the tech stack summary:

Lox Network

  • Go Lang
  • RUST
  • Solidity
  • EJS
  • NodeJS

SmartLOX Mobile Security Application

  • Kotlin
  • Swift
  • NodeJS
  • ReactJS

Consensus Model

The LOX Network will be based on the consensus mechanism of the PoA (Proof-of-Authority). This consensus mechanism provides high performance and is highly fault tolerant. In PoA, the right to generate a new block is provided to the nodes that have proven their authority. To gain this authority, the node must go through an authentication process. The validators will have to go through a KYC process to be authorised on the LOX-EVM chain.

Advantages of PoA

High-performance hardware is not required. Compared to PoW consensus, PoA consensus does not require nodes to spend computational resources for solving complex mathematical tasks.

The interval of time at which new blocks are generated is predictable. For PoW and PoS consensuses, this time varies.

High transaction rate. Blocks are generated in a sequence at appointed time intervals by authorized network nodes. This increases the speed at which transactions are validated.

Tolerance to compromised and malicious nodes, as long as 51% of nodes are not compromised. Lox will implement a ban mechanism for nodes and means of revoking block generation rights.

Wrap Up

The third snapshot was taken successfully on Sunday. There are two more scheduled on May 22 and May 28. The averages of each will be used to calculate the Top 100 holders of each Lox Trio token and those leaders will receive 1 Lox Founders NFT to gain access to beta testing. Additionally, the data gathered from the five snapshots will be used to determine each holder’s fair share of the future $MetaLOX token airdrop.

And, last but not least, there’s still time to jump in our trading competition hosted by MEXC. Use this referral link to join. If you’d like to verify the link provided is the correct one, please go to our Twitter page and look for our May 5 tweet.

As always, thanks for the support #LoxFamily and we hope you have a great week! – Team Lox

Louie
Manager

© LOX Technology Limited
Company No.13083900  .