ABOUT LUXMI COIN

Introduction To Luxmi Coin

Lakshmi is the goddess of wealth, fortune, power, luxury, beauty, fertility, and auspiciousness. Luxmi Coin has been developed to get the showers of Her blessings to All as she holds the promise of material fulfilment and contentment. She is described as restless, whimsical yet maternal, with her arms raised to bless and to grant.

For centuries Hindus have invoked her thus:
Beautiful goddess seated on a chariot, Delighted by songs on lustful elephants, Bedecked with lotuses, pearls and gems, Lustrous as fire, radiant as gold, Resplendent as the sun, calm as the moon, Mistress of cows and horses — Take away poverty and misfortune Bring joy, riches, harvest and children

The popularity of Lakshmi can be gauged by the fact that her sacred name—Shri is written atop most documents and spoken before addressing a god, a teacher, a holy man or any revered individual. The word evokes amongst other things: grace, affluence, abundance, auspiciousness, authority.

The practice of personifying the beauty and bounty of earth as a goddess was prevalent in all ancient cultures. The Greeks had Core, the corn-goddess, who was known to Romans as Demeter. The Egyptians had Isis, Sumerians had Innana, Babylonians had Ishtar, Persians had Anahita and Vikings had Freia. Shri-Lakshmi is the Hindu form of the timeless mother-goddess who nurtures and nourishes all life.


KEY FEATURES OF LUXMI COIN

Fee-free instant international payments
Luxmi coinnetwork exists in the Internet and works almost as fast as the Internet itself. Some time is required to process the payment, as it requires cryptographic confirmation.
Your funds are reliably secure
Luxmi coinprotects user's money with the most secure and modern cryptographic algorithms. They are impossible to hack. The hacking attempt itself would require immense amount of expensive electricity and computational power of a supercomputer. You are the only one who can access your wallet.
Your private data is safe
Luxmi coinsystem ensures that it is totally impossible to get information about your financial operations and wallet balance, unless you decide to reveal those. Only you can manage information that your business partners and third parties will see.
Luxmi Coin is an open and progressive cryptocurrency with a system of community-based governance integrated into its blockchain.

Technology

Luxmi Coin is peer to peer decentralized currency, used to buy-sell-trade and bounty within the community. Safe and secure it has virtually no fee and can be utilized worldwide. Fully confirming transactions within minutes and can be used by anyone. Uses a hybridized POW & dynamic POS SHA 256+ Groestl (Dual Algorithm) for it’s backbone of the transactions & a pos (proof of stake ) system that pays 2.5 percent per year. Luxmi Coin allows users to participate in the project directly without the need for expensive mining hardware.

Development

Luxmi Coin fosters a multi-stakeholder development ecosystem that welcomes and empowers participants who want to improve on existing features or build new tools. Anyone can submit feature proposals, and developers are paid for work to fulfill requirements in full view of the community. Funding for this work comes directly from the Luxmi Coin blockchain.

Governance

Luxmi Coin is constructing a layered governance organization that extends beyond the miners and users to bring forward and represent insider and outsider voices in the community.
Decentralization is a process, and a decentralized ledger is only the first step in that process.

Community And Principles

The project is bound by the Luxmi Coin Constitution, so users can know what to expect: a finite number of coins, decentralized governance and a place to share their views. Luxmi Coin community plays an important role in making decisions, both informally via the forum and formally via the blockchain.


Read the Luxmi Coin Constitution

Luxmi Coin Constitution

Luxmi Coin is an open, progressive, and self-funding cryptocurrency with a system of community-based governance integrated into its blockchain. The project mission is to develop technology for the public benefit, with a primary focus on cryptocurrency technology.Luxmi Coin, as a currency and as a project, is bound by the following set of rules, which include guiding principles, a system of governance, and a funding mechanism. These rules have been established in an effort to create an equitable and sustainable framework within which to achieve Luxmi Coin’s goals.

Principles

Free and Open-Source Software - All software developed as part of Luxmi Coin shall be free and open source-software.

Free Speech and Consideration - Everyone has the right to communicate opinions and ideas without fear of censorship. Consideration shall be given to all constructive speech that is based in fact and reason.

Multi-Stakeholder Inclusivity - Inclusivity represents a multi-stakeholder system and an active effort shall be maintained to include a diverse set of views and users. While it would be ideal to include everyone, Luxmi Coin shall comply with all relevant bodies of law in the jurisdictions where applicable, such as embargoes and other trade sanctions.

Incremental Privacy and Security - Privacy and security are priorities and shall be balanced with the complexity of their implementations. Additional privacy and security technology shall be implemented on a continuing and incremental basis, both proactively and on-demand in response to attacks.

Fixed Finite Supply - Issuance is finite and the total maximum number of coins in Luxmi Coin shall not change. The total maximum supply for Luxmi Coin is 5,000,000,00 coins, with a per-block subsidy that adjusts dynamicaly from 10 to 50 per block. As per details given below :
block< 103 = 0
1443 = 20
2883= 40
4323 =50
5763 = 30
6003 = 20
POS same as until POW last block. Only POS from 10003 until 10003 = 15 until 20003 = 10 above 20003 = 20 dynamic pow/pos.

Universal Fungibility - Universal fungibility is fundamental to Decred being a store of value and attacks against it shall be actively monitored and countermeasures pursued as necessary.

Blockchain Governance

Governance of the network occurs directly through the blockchain via hybridization of a block’s proof-of-work (“PoW”) with its proof-of-stake (“PoS”). PoS contributors, known as stakeholders, can effectively override PoW contributors, known as miners, if 60% or more of the stakeholders vote against a particular block created by a miner.
A dynamic automated system is used to determine which stakeholder is on each block and collect a subsidy.

To be a stakeholder, one must purchase one or more Luxmi Coins from exchanges.

Project Governance

Off-chain decision-making shall be used to resolve disputes related to development and voted on by the Luxmi Coin Assembly as they arise, as an effective proof-of-assembly (“PoA”), until such time PoA is integrated into the blockchain.

The Luxmi Coin Assembly shall be composed of diverse Assembly members who are selected for membership by the Admission Council from the project ecosystem for representation.
Councils that are composed of Assembly members shall be formed to address ongoing and episodic matters. The initial Councils shall serve the separate functions of admission (Admission Council), creation (Creation Council), and attrition (Attrition Council).

The Admission Council shall vote on the inclusion of new members into the Assembly. All additional Councils shall be created by the Creation Council. The Attrition Council shall be responsible for deactivating both Councils and Assembly members as necessary.

Membership of theLuxmi Coin Assembly shall consist of Assembly members who have been confirmed by a 60% or greater affirmative vote by the Admission Council. There is no restriction on the age or nationality of Assembly members, the only requirement is that of merit as judged by the Admission Council.

Merit is judged on the basis of two characteristics:- (1) the amount of time over which one has been involved with the project, and (2) one’s body of work and its impact in the context of the project.

Attrition is embraced by temporarily deactivating or actively expelling Assembly members by a 60% or greater affirmative vote by the Attrition Council on the basis of: (1) substantial non-fulfillment of duties for one or more Councils or the Assembly, and/or (2) counterproductive behaviour that goes against the framework set forth in the Constitution without constructive action toward solutions.
All matters formally presented to a Council shall be resolved by a vote in 365 days or less.

Funding

Sustainability and longevity require that a subsidy of 20% of all block rewards be given to a development organization on an ongoing basis. The initial development organization shall be Luxmi Coin Holdings Group LLC (“LCHG”), a Nevis LLC that is responsible for funding work related to the development of the project, such as software development, infrastructure, and awareness.

LCHG shall only fund work that adheres to the guiding principles.

LCHG shall issue public financial statements every six months, starting October, 2017. The frequency of financial statements may increase with activity, but it shall not occur more often than quarterly.


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