[ANN] Lytix - PoS Maxnode Crypto Platform

[Lucasgabd]

we are on bisq.network now: https://bisq.network/downloads/

Larry should have his exchange ready soon.

awesome news!
already there on the logs of new assets listed:
github link

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[faetos]

If you need to synch up quickly you can use the bootstrap.dat file that is on the latest release. That should get you over the hump and ready to stake.

[RinceWind84]

Trading is now live on Crex24 

https://crex24.com/exchange/LYTX-BTC

[OLICOW]

Project interesting, looking at it, check their discord the team is very helpful and all questions been answered  immediately. This project will stay for sure in the long run. devs and team don't need luck because they are working on the project.

[RinceWind84]

It is also worth noticing the complete and utter absence of shill.
This has been so refreshing and gives me high hopes for this one.

[faetos]

It is also worth noticing the complete and utter absence of shill.
This has been so refreshing and gives me high hopes for this one.

When moon? Buy LYTX, buy LYTX, Buy LYTX!!! Arise LYTX!


sorry, just had to - reminds me of BTC-e back in the days of chikun

[Bitcoinminion]

LYTX Lytix Coin https://www.lytixchain.org/  Discord: https://discord.gg/hep2nt4 has been added to

https://dice-age.com/ online staking wallet dice game.
https://discord.gg/7Z8Tx5B

dice-age will put in an additional 10% of the initial sites pool, this will be rewarded among the '1st in invested players' staking benefit.
Initially making dice-age.com The Best place for you to get LYTX stake returns anywhere!

[faetos]

So, we are in the top 5% in volume at Crex24 - right behind DASH. If only we could have the same price


Price increased 213% today on Crex24.com. We are #2 at Crex24 for biggest gains for the day.

[Oziotoo]

Where i can find information about ur team?

[faetos]

Where i can find information about ur team?

We just updated out website yesterday. As for the official team it is myself doing the main coding, running the network, marketing and all that stuff. This is me on linkedin - www.linkedin.com/in/nat-h-6382b8157

We have a lot of community contributors like Eureka, Tybibourne, Multi21 (did the new website), luke, Bitcoinminion, LordSoylent and others that have helped with development, scripting, support, etc. It's a good community effort, so I encourage you to join us on Discord. We also have a very good, positive group on board. All very helpful and generally wonderful people from all over the world. Our community is absolutely our strength. 

[Lucasgabd]

Where i can find information about ur team?

We just updated out website yesterday. As for the official team it is myself doing the main coding, running the network, marketing and all that stuff. This is me on linkedin - www.linkedin.com/in/nat-h-6382b8157

We have a lot of community contributors like Eureka, Tybibourne, Multi21 (did the new website), luke, Bitcoinminion, LordSoylent and others that have helped with development, scripting, support, etc. It's a good community effort, so I encourage you to join us on Discord. We also have a very good, positive group on board. All very helpful and generally wonderful people from all over the world. Our community is absolutely our strength. 

I can vouch for that
Faetos is one of the hardest working devs on the crypto space.

[Bitcoinminion]

agree's

[faetos]

FYI - there are some issues with zerocoin and it will be disabled and probably removed. We were due to go live with it on block 150,000, but due to another vulnerability with the protocol we are currently voting to remove it entirely from the next release. It will be votable at some point on the wallet, but if you wish to have your voice heard then please head over to discord and look for it in our proposals section.


We're going to drop ZeroCoin after maxnodes go live. It will continue to be in maintenance mode until then. Maintenance mode is essentially disabling the services. I think I am probably the only person who has some minted zLYTX, so it just impacts me.


Maxnodes are starting to come together, folks

[Lucasgabd]

Maxnodes are starting to come together, folks

<...>

any info on what will be the price and metrics for Maxnodes already?

[faetos]

Maxnodes are starting to come together, folks

<...>

any info on what will be the price and metrics for Maxnodes already?

The Maxnode system is unique to Lytix. Maxnodes will hold the open APIs that entities will be able to use to store data,
decisions, or any other configurable items into the blockchain. They will come in 3 tiers and cost 50,000 LYTX for Tier 1,
75,000 for Tier 2 and 100,000 for Tier 3. They will also receive 10x for tier 1, 15x for tier 2 and 20x for tier 3 of the
rewards for each block.
They will be the only points of entry to the data storage and decisioning matrix with the Lytix blockchain. Max nodes are
unique and identified by a cryptographic signature that will tie it to the clients that own and use that Max node. Max nodes
can also be private and the information stored and the decisions tracked can also be private. If the entries are deemed private
they will be signed with the cryptographic signature and encrypted before placement into the blockchain. Only key holders
that are part of that group will be able to view and decrypt that information.
Maxnodes will also receive LYTX for each storage transaction. The cost of these transactions is still in development, but the
current thought is to be 1 LYTX or a fraction of a LYTX. As maxnodes move through testing we will have a better idea of
how much it will cost to insert and retrieve data elements. Maxnodes will uniquely be able to process these transactions.
Maxnodes will not process regular transactions like Masternodes and will nto be part of their network. The maxnode
network will be the third tier in the ecosystem.
Maxnodes will also differ from Masternodes in that they will not participate in the budget voting or proposal submission
process. That will stay a Masternode function and not be a part of the maxnode system now or in the future. Reasoning
behind this is to keep the systems separate and the functions specialized for each tier.
The maxnode tiered system is still in development to decide which functionality will be housed in each tier. Some proposals
have defined the following:
TIER 1 - 50000 collateral - secure node for read-only API functionality
TIER 2 - 75000 collateral - node with atomic swap capabilities for dex functionality and partial API functionality
TIER 3 - 100000 collateral - node with atomic swap capabilities for dex functionality and full API functionality


those are what we are working with at the moment. It can certainly change through testing

[Lucasgabd]

Maxnodes are starting to come together, folks

<...>

any info on what will be the price and metrics for Maxnodes already?

The Maxnode system is unique to Lytix. Maxnodes will hold the open APIs that entities will be able to use to store data,
decisions, or any other configurable items into the blockchain. They will come in 3 tiers and cost 50,000 LYTX for Tier 1,
75,000 for Tier 2 and 100,000 for Tier 3. They will also receive 10x for tier 1, 15x for tier 2 and 20x for tier 3 of the
rewards for each block.
They will be the only points of entry to the data storage and decisioning matrix with the Lytix blockchain. Max nodes are
unique and identified by a cryptographic signature that will tie it to the clients that own and use that Max node. Max nodes
can also be private and the information stored and the decisions tracked can also be private. If the entries are deemed private
they will be signed with the cryptographic signature and encrypted before placement into the blockchain. Only key holders
that are part of that group will be able to view and decrypt that information.
Maxnodes will also receive LYTX for each storage transaction. The cost of these transactions is still in development, but the
current thought is to be 1 LYTX or a fraction of a LYTX. As maxnodes move through testing we will have a better idea of
how much it will cost to insert and retrieve data elements. Maxnodes will uniquely be able to process these transactions.
Maxnodes will not process regular transactions like Masternodes and will nto be part of their network. The maxnode
network will be the third tier in the ecosystem.
Maxnodes will also differ from Masternodes in that they will not participate in the budget voting or proposal submission
process. That will stay a Masternode function and not be a part of the maxnode system now or in the future. Reasoning
behind this is to keep the systems separate and the functions specialized for each tier.
The maxnode tiered system is still in development to decide which functionality will be housed in each tier. Some proposals
have defined the following:
TIER 1 - 50000 collateral - secure node for read-only API functionality
TIER 2 - 75000 collateral - node with atomic swap capabilities for dex functionality and partial API functionality
TIER 3 - 100000 collateral - node with atomic swap capabilities for dex functionality and full API functionality

quite interesting and innovative!
are there any other projects around with maxnodes?

Just got a little confused on how this wil affect the emission curve.
will the LYTX per block remain the same or there are some changes coming to it with the release of maxnodes?

[faetos]

quite interesting and innovative!
are there any other projects around with maxnodes?

Just got a little confused on how this will affect the emission curve.
will the LYTX per block remain the same or there are some changes coming to it with the release of maxnodes?

I don't know of anyone out there that actually has a tiered system. It's possible someone has one, but with a new shtcoin every hour anything is possible. What I am currently testing is the reward system. I am adding this in addition to the current allocated rewards:

Code:

int64_t GetMaxnodePayment(int nHeight, int64_t blockValue, int nMaxnodeCount, bool isZPIVStake)
{
    int64_t ret = 0;

    if (Params().NetworkID() == CBaseChainParams::TESTNET) {

    if (nHeight <= 499) {
        ret = 0;
    
    } else if (nHeight > 499 && fMaxNodeT1) {
        ret = blockValue * 5;
    } else if (nHeight > 499 && fMaxNodeT2) {
        ret = blockValue * 7.5;
    } else if (nHeight > 499 && fMaxNodeT1) {
        ret = blockValue * 10;
    }

I will test this to see if it works. It's currently in main.cpp.

As far as emissions go, this reward system will most likely undergo a lot of change. For the regular masternode staker rewards they will remain on the same track and not change at all. For each data put and pull there will be a cost that will be awarded to the maxnode owner. I am thinking along the lines of 0.1 LYTX for a put and 0.05 LYTX for a pull. Transactions could be heavy and with a limited supply of LYTX (100 mil) enterprises may run out. This will undoubtedly be under revision as we start to get use cases together and make partners to use the system.

[tybiboune]

I really admire the hard work and humility that you put into this project.
If this one doesn't meet success, I'll cut my right hand! ... or my pinky... alright, I'll cut the top of my nails!!

Kidding here, but seriously you deserve the best with your project, faetos.

That would deserve a LOT more hype!

By the way, there are already tier 1 - 2 - 3 masternode systems but I haven't checked whether those ones are only a matter of collateral/reward difference, or if each tier has a very different and complementary role in the network, like what you're developing now.

[woolongdev]

Looks pretty good so far!
There is a lot of activity on the github regarding maxnodes,  I can't wait till they are active.
I heard that masternodes/staking will move to a 60/40 split at the same time as maxnodes are released.  Seems like a smart move.

Now is the time to buy! Lytix is still pretty cheap over on crex24.

[deadhp1]

I was a little sad that I found out about this project at the tail end of the pow period.  I only mined about 3k.

I'm pretty happy now that they are on Crex and I've been able to score a decent bag.
It's one of the few projects that look promising. 
-low market cap
-low supply
-decent goals
-great dev
Seems like a recipe for huge gains if I've ever seen one.