Lynx is a new Crypto project that is solving and tackling one of the biggest problems in crypto-currencies and that is the cost to maintain and run the network normally called, “mining.”
AN ECO-FRIENDLY CRYPTOCURRENCY
Bitcoin’s business rules and energy requirements create an over-reliance on fossil fuels; Lynx does the opposite and strives to solve this problem. For cryptocurrency to be considered a secure platform for exchange in today’s global marketplace, it must be created with global sustainability in mind.
GLOBALLY SUSTAINABLE NETWORK
Unlike Bitcoin, the Lynx code discourages high-volume mining rigs because the code purposefully lacks incentives to mine it for profit. As a result, the entire Lynx network is designed to operate on a collaboration of low power devices that anyone can run, resulting in a collective global mining cost of only dollars a day.
From Lynx’s white paper:
Lynx created the Hybrid Proof of Work solution. Lynx business rules encourage the use of low-cost computing (like a Raspberry Pi which only consumes around 3 watts of electricity) to mine the coin. As a result, the electrical cost to maintain the Lynx network is a fraction of Bitcoin’s, yielding a low environmental impact. The emphasis on low-cost computing also creates a more decentralized, broad miner base which strengthens the stability and security of the currency. And, the easy-to-use tools and broad miner base creates a more equitable cryptocurrency that anyone can use for generations to come. Lynx was designed to have minimal environmental impact because it’s committed to creating global solutions and maintaining a small carbon footprint.
For a cryptocurrency to be considered eco-friendly29, the electricity requirements to run the global network (including the hardware and software) must have a minimal impact on the environment.30 To ensure environmental sustainability, Lynx developed Hybrid Proof of Work (HPoW). Lynx HPoW still uses PoW but modifies it so it isn’t profitable and, as a result, creates an entire cryptocurrency network that can run on energy efficient, easy to set-up, low-cost computers or cloud services. This removes any barriers to entry for non-technical individuals or organizations who want to get involved with, support, and build applications on a stable and secure cryptocurrency project.
from the Lynx Whitepaper:
Lynx is listed on CoinMarket Cap here: https://coinmarketcap.com/currencies/lynx/
Watch Ben Wilson the founder of LYNX speak on The Future of Cryptocurrency: Overcoming the Limitations at a recent blockchain conference: