Lukso, a layer 1 blockchain, has introduced a new beta version of the “Universal Profile,” a groundbreaking development by its developers, Fabian Vogelsteller and Marjorie Hernandez.

The Universal Profile represents a comprehensive on-chain identity solution, complete with a recoverable cryptocurrency wallet.

Consequently, this innovation opens up a multitude of possibilities, including NFT management, social media interactions, and seamless payments, offering users the convenience of handling various blockchain activities within a single account, beyond just a wallet.

Key Features of Lukso Universal Profile

The Lukso Universal Profile introduces several key features aimed at simplifying blockchain access and enhancing user-friendliness:

  1. Recovery Option: Unlike traditional accounts, Lukso Universal Profile provides a recovery mechanism through key managers or smart contracts. This feature ensures that users can regain access to their accounts in the event of loss or compromise.
  2. Multimedia Integration: Users have the ability to attach various types of photos or videos to their profiles within decentralized applications (dApps), enhancing personalization and interaction.

Gas Allocation and Fee Coverage

In addition, a core objective of Lukso is to make blockchain more accessible to users by streamlining the process.

Lukso Universal Profile

Notably, users are not required to personally cover transaction fees (gas). Instead, the Foundation for the New Creative Economies allocates gas funds to users, allowing them to select from various relays to handle their transaction fees.

Future Vision and Comparison to Ethereum

Fabian Vogelsteller envisions Lukso as a platform that could potentially surpass Ethereum in the future.

Currently, the blockchain community views it as an enhanced version featuring user-friendly features. Further, the Lukso Universal Profile represents a significant step toward achieving this goal, which offers a versatile and convenient solution for users to engage with blockchain applications and services.

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Tanishi is an established writer in the realm of cryptocurrency and blockchain, renowned for her expertise and insightful analysis. With a deep-rooted passion for the dynamic world of digital finance, Tanishi delivers compelling news and articles that captivate a wide-ranging audience.