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Luxcore changes its mining algorithm to RX2

By Lorenzo - 2019-09-29

Luxcore is a blockchain platform offering solutions and services aimed at helping enterprises. The main mission of Luxcore is to make the blockchain technology mainstream. The platform will use Smart Contracts to enable developers to build DApps and cross-network transactions that can be triggered from the wallet.
Luxcore team has just announced its release of a new mining algorithm, the RX2 and the switch from the old PHI2 to the new RX2 in the upcoming weeks.
It’s extremely important to adapt to the latest and best security, privacy, and efficiency practices, and we believe our switch to RX2 furthers our overall goal of positioning Luxcore at the forefront of the decentralized world.
The RX2 algorithm is essentially a Proof of Work consensus algorithm designed specifically to be ASIC resistant as well as a safeguard against specialized mining hardware.
Luxcore RX2
The main purpose of the new algorithm is to distribute equal block rewards thanks to the increase in network participants. This increase in participants is achieved through general CPU optimization which in return enables more participants to participate in securing the network because they will no longer need to purchase high-cost highly specialized mining hardware.
According to Luxcore, the RX2 algorithm has been audited by four different security teams and is expected to be less vulnerable to malware.
This new algorithm will basically help small users to participate in the mining process while getting more or less equal rewards without the need of using special mining equipment.