The Lynx Network is a ecosystem of people, Dapps, and smart companies that navigate Across all platforms (Facebook Twitter Reddit ect.), regulate themselves, and apply any blockchain or web based application for an infinite array of customization. Everything is hosted on a peer system network and backed by Ethereum smart contracts so that one’s accounts or organization can never be destroyed or manipulated.
Rationale of the Lynx Network
The majority of us by now know of DAO's (Decentralized Autonomous Organizations). Nobody doubts their benefit to society but their true potential has not yet been realized. First let us take a peek at major online marketplaces like Amazon and eBay, revenue coming from these platforms is tremendous but where does it all go?
Some goes into the control of this machine as a whole, sites, workers, marketing, and the lawful facet of company but what about the remaining vast bulk? A brief response is that is goes in the pockets of those owners; it’s locked off as profit and won't be viewed again by the normal user of this platform. The consumer pays fees to use the platform just like with Ethereum you must pay a gasoline fee on every transaction, that ETH is gone permanently from the pocket, but it does not have to be.
Lynx Network and Etherum
Among the applications hosted on the Lynx Network is the Marketplace, where users can purchase or sell items to get a smaller fee than leading retailers. But rather than pocketing the gain, all ETH is sent to the global pool smart contract which tracks and calculates all trades that are produced by LNT holders.
Afterwards, at anytime you are able to withdraw your spent mileage from regular transactions using your private key, this is similar to how banks refund ATM fees. Not only can LNT holders utilize Ethereum for free however they also directly control how much of a reduction is allocated to consumers by the global governance protocol that is controlled by community voting.
What is LNT?
LNT or even Lynx Network Tokens are utilized to power every aspect of the network, from voting or modification of Dapps to managing smart businesses and much more.
LNT are are dispersing over 97 percent of all tokens into the community, this is for 2 reasons, so the founders may not hold special privileges over the networks governance and to boost decentralization. On top of the 10 percent of all funds raised during the crowdsale
Will go to the worldwide ETH pool so that the first users of Lynx can experience a free to use Ethereum immediately.
Lynx Network Summary
The Lynx Network offers an alternative to the major platforms such as Amazon and Ebay that claim to suffer from high transaction fees. Through the development of the Lynx Network, one can make money and save on trading costs as well as participate in an international platform.
More details about LNT and its tokens can be seen on the brand’s website.