The Foundation LUKSO summary page can be found here.
LUKSO is the first blockchain built for SOCIAL, CULTURE and CREATORS.
https://www.youtube.com/watch?v=MpK_gSbstak
Key facts
- LUKSO is an L1 that has the same consensus algorithm as Ethereum (Only other chain is Gnosis)
- Network started in May 23rd 2023, at 4:20 UTC (https://explorer.lukso.network/block/0)
- Initiated by Fabian Vogelsteller (https://wikitia.com/wiki/Fabian_Vogelsteller) and Marjorie Hernandez (https://www.marjoriehernandez.com/)
- LUKSOs innovation are its novel smart contract standards around account abstraction, token and NFTs: As the creator of ERC20 and the first every smart contract standard, Fabian took the last 5 years to improve on his earlier work and evolve all token standards and introduce the first ever fully standardised smart contract account, based on his standard ERC725 from 2017 (https://erc725alliance.org/)
- **ERC725 based Accounts** (called Universal Profile) allow for unlimited innovation and have the following core properties:
- Attachable (smart contract readable) information
- Upgradeable security, allowing for better managability and UX
- Reactability: meaning smart contracts can notify and interact with profiles
- Extensibility: additional functions can be added later on, while not changing the core behaviour of the profile
- Permission system, which allows for complex permissions to be set per device, or app, that should control your profile
- Can function as a corporate, brand or creator profile, as well as a DAO
- New Token and NFT standards (LSP7 and LSP8)
- These new token standards evolve ERC20 and ERC721
- They allow for more complex and dynamic NFTs and Tokens
- They have unlimited attachable (smart contract readable) information, which allows for new forms of protocols that hook or link to/from tokens
- Extensibility: additional functions can be added later on, while not changing the core behaviour of the token
- Universal Profiles launched on Mainnet on Nov 8th 2023
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