In an innovative move from the blockchain arena, Lukso, a layer 1 blockchain specifically curated to cater to creative people, is set to launch the beta version of its latest feature “Universal Profiles.” Co-founded by blockchain stalwarts Fabian Vogelsteller and Marjorie Hernandez, Universal Profiles aim to provide users with a comprehensive “on-chain identity.” It is integrated with a recoverable crypto wallet and an easy-to-use profile for engaging with social media applications.
With the ability to be used on the blockchain for myriad applications such as NFTs, decentralized social media, and payments, Universal Profiles create a unique blend of functionality under one account that metamorphoses into more than just a wallet address. Standard blockchain accounts, known as Externally Owned Accounts (EOA), often pose recovery difficulties but with Universal Profiles, account recovery options are incorporated, taking user convenience to another level.
Moreover, the Universal Profile feature transcends boundaries when it comes to reading any information including a photo or a video, attached to the profile. Such information can be comprehended by other decentralized applications or “dapps” on the blockchain.
Aiming to bridge the gap for brands looking for a viable identity on the blockchain, Lukso has designs to make web3 more accessible. Fabian Vogelsteller, Lukso’s co-founder, states, “We are trying to onboard the 99% of the users that haven’t used blockchain yet,” suggesting a push for greater accessibility in the blockchain arena.
Under Universal Profiles, users are exempted from paying gas fees for transactions on the blockchain. The Foundation for the New Creative Economies, the driving force behind Lukso, is allocating a certain amount of LYX for gas usage for its users. A marketplace for relay providers is being set up to empower users with the choice of relays to employ for their gas payments.
Since its mainnet went live in May, Lukso has drawn in about 46,000 validators running its network. Vogelsteller takes pride in Lukso’s potential, stating that it’s an improved, more user-friendly version of Ethereum, despite it having a long journey ahead to surpass Ethereum’s status.
Source: Coindesk
