LOX Network
What is LOX Network?
LOX Network is a hybrid blockchain being built with Hyperledger fabric to record transactions to the XRP Ledger and interoperate with Flare Network for Turing Completeness using the Ethereum Virtual Machine, or EVM. The LOX Network is where SmartNFT, our NFT platform, and SmartLOX, the mobile security application reside.
LOX
The native currency, LOX, powers LOX Network. The token is used to pay transaction fees when interacting or executing contracts via LOX Network.
What makes the LOX Network?
The first two applications to be built by the team at LOX Network are SmartNFT, an NFT platform where users can mint digital representations of themselves and their devices among other uses, and SmartLOX, the mobile security application.
SmartNFT
The SmartNFT platform works just like any other NFT marketplace. Here, the user creates a digital representation of themselves and their devices in a QR-coded NFT, including name, email address, and additional pertinent information.
Once the user NFT is created, The user can mint a digital representation of their device, including its make, model, IMEI number and other identifying information.
SmartLOX
The SmartLOX mobile security app uses LOX Network to identify and bridge a users' profile NFT stored on the mobile application and a device NFT stored on the SmartNFT platform to pair them together, creating the proof-of-ownership bond backed up by the XRP Ledger’s decentralized transaction records.
Using the power of Flare Network and the speed, reliability, cost efficiency, and, most importantly, the decentralization of the XRP Ledger, any actions recorded by LOX Network are verifiable on public XRP Ledger scanners such as XRPScan or Bithomp, creating verifiable, irrefutable documentation and immutable proof-of-ownership
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