Lynx Chain Whitepaper 0.1

Lynx Chain Whitepaper 0.1

An EOS Fork designed with the goal of max usability

INTRODUCTION

This document describes a planned open source fork of the EOS Blockchain, with the goal of creating a simplified blockchain designed first and foremost for maximum consumer usability.

Having developed one of the leading wallets on EOS, we are on the front lines of user adoption of consumer BlockChain in general and EOS in particular. While we applaud EOS for its innovation, and continue to believe that it currently represents the best choice out there, a number of key problems have now become evident that are not easily fixed with the existing architecture. In particular:

  • Paid accounts are a very significant hurdle, especially in the developing world, but also for social applications.

  • The idea of staking for CPU and Network resources is a usability roadblock. Consumers do not understand it.

  • The idea of buying and selling RAM does not belong in a consumer application

  • 12 character domain names with number 1..5 represent a major hurdle for the average user.

  • Staking / RAM buying etc. are complex for dApps. A pay-as-you go solution in stable USD would be preferred.

  • There is no way to message an EOS user. There is no base identity or profile. Many apps would highly benefit from this.

  • There is no way to verify identity in EOS. Again, this means that there is no way to be able to look up verified users (consumers and business) in a directory.

  • In general, EOS as it stands is too complex for ordinary users. A simpler, more consumer friendly version would be better as the backbone of a consumer product.

In the remainder of this document we will set forth the design goals for a future fork, Lynx Chain, from the perspective of users, dApps, and Block Producers.

USER PERSPECTIVE

Free Accounts: Users will be able to create one free account with first name, last name, avatar and a verified phone number.

Paid secondary accounts: Once the phone number has been used to verify one free account, all subsequent accounts will be charged a nominal fee.

4 Char+ account names: Every free account will have a 4 char+ alphanumeric account name. First come, first served, just like twitter. @fred references fred krueger. No auctions.

Possibility to verify your account name: Users can optionally upload a drivers license and selfie and get verified by Netki / OnFido. Nominal Charge. Verified accounts show up as in twitter.

Inbox / Messaging Layer:

Users will all have an inbox where they can option receive direct messages. Like twitter. Apps can develop group chat based on @names.

No active and owner key: Just one private key.

No user resources: No notion of staking. No CPU or Network staking. No user RAM. Users should never see the concept of RAM. Sending tokens is always free and always works The system covers the cost of direct transactions. These will never fail for reasons of CPU / Network.

Possibility of small transaction fee: Possible small (<10 cent) transaction fee for simple token transfers

Finality: Transactions are final. Once done they are immutable. No 2/3+1 reversibility.

DAPP PERSPECTIVE

Proof of Authority: Block Producers are certified by an independent board, with minimum performance audit. These are grouped in tiers based on performance. dApps pick a tier.

Payment for Resources: dApps pay a straight daily fee for usage Paid out of tokens directly that are in the dApp account. This fee varies by tier. Fee is computed in USD, and payable in Lynx token or StableCoin.

Possible use of Javascript / TypeScript for contracts: C++ is a major hurdle for dApp developers. We can see many dApps potentially being developed in Javascript.

BP PERSPECTIVE

Earnings: BPs make the daily fee payable by the dApps. The more blocks they process, the more they make. They have no exposure to the token price.

SIMPLIFICATIONS FROM EOS

  • No staking

  • No voting

  • No CPU

  • No Network

  • No RAM buying and selling

  • No REX

  • No Referendum

  • No Worker Proposals

  • No ECAF

  • No Inflation

  • No owner vs active key

3 New Custom Names on EOS Name Service!

3 New Custom Names on EOS Name Service!

Biggest Announcement Yet For EOS! - TapaTalk - 300 Million Users Coming! 2019

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