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Laxmicoin: 'Made in India' Blockchain For Billions

Agencies
·5 min read

An Overview on LaxmiCoin

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It’s a distributed platform for setting up the most advanced blockchain and making it possible for a number of use cases such as banking, land registry, voting platform, and healthcare to name a few. It also plans to build its own network layer to support services such as VPN and DNS.

In 2012 accomplished technology expert Mitthan Meena started Laxmicoin as a decentralized global platform for consumers, as Laxmicoin team says Blockchain for billions of people around the world, this team really build a scalable blockchain that performs microtransactions at scale competing with some of the best-known blockchain projects like Ripple, Stellar and EoS.

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Had he been granted permissions in a timely manner, it could have been one of the best blockchain projects. He envisioned this back in 2012 when most of the people were not even aware of blockchain. As said “better late than never”, even if this team allowed it to launch now, we envision Laxmicoin blockchain “Rover Network” to be one of the top 5 blockchain projects in the world. While most of the blockchains struggled on scalability, Laxmicoin team's main focus was scalability and highest TPS (Transactions per second) for mass adoption.

This team had clearly penned down most of the use cases and architecture on www.laxmicoin.com and www.rover.network. Some of the use cases penned down and explained by the team are

Land registry is one of the critical concerns for most people and if it is on the blockchain, it can’t be manipulated and won’t have a double registry or encroachment problem like “Khosla ka Ghosla” movie.

https://www.youtube.com/watch?v=Eqyor5ibn5A&feature=emb_logo ( embend )

A voting platform on blockchain: Every time either vote counting or voting machines are blamed, imagine all voting records are on blockchain even if someone takes away voting machines, they won’t be able to manipulate, and elections can be done in the much fairer and more transparent way.

Banks on the blockchain(BoB): Assume all banking operations ran on a blockchain, Vijay Malia, Nirav Modi, Lalit Modi, and Mehul Choksi won’t be able to cheat banks, as loan officers can’t approve loan more than the assets and if they default, assets start moving to banks automatically without 3rd party involvement. We are simply amazed by this use case.

https://www.youtube.com/watch?v=pd_C9mKDOMg&feature=emb_logo

Remittance: India receives the largest remittance, everyone pays 2–5% in transaction fee and it takes a couple of days to receive the money, if it’s done on the blockchain it can be done with a fraction of a percent and within seconds at scale, that’s the vision set by Laxmicoin team.

Rover Network: A decentralized platform for consumers around the world. Rover Network has the potential to disrupt the trade landscape by making it easier to reduce disputes and fraud to provide delivery and payment certainty, enable transparency of trade asset movement, and facilitate the flow of trade receivables.

Rover Network will provide solutions for, uniquely identifying each transfer in a transaction, providing authority and verification. With Rover Network the institutions can track the flow of funds with greater certainty, providing transparency, timeliness, and auditable reporting. It works on a Decentralized Network System, which makes it Public, easily Traceable and hence, no Manipulations can take place.

Laxmicoin blockchain Rover Network

The journey of Laxmi Coin

2012: Started the journey of Laxmicoin project

2017: Relaunched the project

2018 Q2: Laxmicoin launch, India’s first cryptocurrency

2018 Q3: Main net and P2p Transactions

Main net is an independent blockchain running its own network with its own technology and protocol.

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and issuing of bitcoins is carried out collectively by the network.

2019 Q1: Rover Network Alpha Launch

Laxmicoin and the “Rover Network” — A decentralized platform for consumers around the world. It is committed to building the most advanced blockchain, facilitating a number of use cases in different fields such as banking, land registry, voting platform, and healthcare to name a few.

2019 Q3: Rover Storage

The Rover Decentralized storage will bring together the best features of decentralized technology, with attributes that meet the practical demands of storing high volumes of data. Rover decentralized storage works by distributing the data across a network of nodes, in a similar way to the distributed ledger technology characteristic of blockchain.

2020 Q1 Rover Based App: (The voting platform on a blockchain)

Every time either vote counting or voting machines are blamed, imagine all voting records are on blockchain even if someone takes away voting machines, they won’t be able to manipulate, and elections can be done in a much fairer and more transparent way.

The expectation by 2025: More rover-based Apps such as banking, land registry, and healthcare

Laxmicoin®’s Rover Network is a blockchain platform powered by billions of devices. Started in 2012, and Now is on a mission to make the most powerful infrastructure for decentralized applications.

  • Have Big team with qualified developers

  • Laxmicoin team was working with most reputed universities in India for research on new consensus protocol to achieve 10,000+ TPS