“Many thanks to Rob Golden and the LUKSO Team, who assisted me in polishing this article.
LUKSO is developing an ecosystem for the new internet era, known as Web3, that incorporates fair and equal relationships between users and services. As users of the regular internet, we rely on trusting extensive centralized services to store and secure our data, which leaves us susceptible to privacy issues, data breaches, and the inability to own the data that is ours. Blockchain technology enables users to truly own and transfer digital assets on the internet through a cryptographically secured network of independent computers around the globe. Use cases for decentralized public blockchain networks are rapidly increasing. To meet this demand, the following fundamental issues surrounding current architectures need to be solved:
– Standard blockchain networks suffer from over-occupancy.
– Users must directly pay for the fees that sustain the network.
– Assets and accounts are cumbersome to manage and easy to lose.
– Accounts cannot hold personal data or refer to static datasets.
– The data contained within assets is not verifiable.
By developing innovative standards deployed on a new state-of-the-art EVM platform, LUKSO aims to solve these core issues and deliver a blockchain for the creative economy that is available to everyone and resistant to censorship.”
Read the rest of the article here: https://medium.com/lukso/lukso-ecosystem-part-1-4c3f5d67b081“