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Lum Network wishes to allow companies to utilize their neighborhoods

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A Cosmos-based network that gamifies on-chain benefits– both for companies and its clients.

2 minutes read

Updated: May 4, 2022 at 7: 50 pm

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Officially released last fall, the Lum Network is an appealing Cosmos-based task with a huge vision for the future– to end up being a trust layer for business of the future.

Sarah-Diane Eck, the CEO of Lum Network, spoke with Cryptonites’ Alex Fazel about what the platform is attempting to attain and why it sees Cosmos as a leaping board that will assist it bring countless individuals into the Web3 area.

Bridging the space in between material and benefits with blockchain

While the concept for Lum has actually remained in advancement considering that 2018, it wasn’t up until the fall of 2021 that the platform formally released. The couple of functional months behind the platform does not suggest that it’s been sluggish in advancement.

Lum’s CEO, Sarah-Diane Eck, stated that Lum will introduce a decentralized benefit system in the next couple of weeks, allowing its environment to recognize the worth users have actually been producing.

Lum is a Layer-1 platform structure open-source tools for brand names to develop engagement with customers. Developed utilizing the Tendermint and Cosmos SDK, Lum supplies a trust layer to companies utilizing its platform and allows them to reward their consumers for supplying material and evaluations.

Eck stated that picking Cosmos as its blockchain of option was a technical choice Lum’s advancement group made in2018 At that time, there was no IBC, and Cosmos was still in its early days in regards to performances. The blockchain’s technical elements made it a clear option for Lum, and Eck states the group hasn’t believed two times about it because. The Cosmos community grew substantially over the previous 4 years, and Lum is fortunate to be a part of it, she informed Cryptonites.

The Lum group is constructing a platform with a long-lasting vision, and structure on a network that lines up with that vision is very essential to the durability and success of the job.

And Lum has actually currently placed itself on the course to success. Because releasing in 2015, Lum has actually released 2 significant tasks– Lumki and Skeepers. Lumki is a benefit app that allows its users to make LUM tokens through cashback deals and developing material for merchants.

Skeepers, on the other hand, is a prominent brand name evaluation platform, processing over 30 million evaluations annually. It utilizes the Lum Network to mark all of its evaluations, make them tamper-proof, and offer customers with benefits for taking part.

Unlike comparable tasks, Eck stated that Lum does not conceal that the benefits it will provide are cryptocurrencies. The reality that these benefits are on-chain and can be utilized for staking presents a gamification component she thinks will assist bring in more individuals to Lum.

Once these decentralized benefits are presented, Lum will release a staking program. While LUM tokens can currently be staked on the blockchain, producing a much better UI and UX will make it possible for more individuals to stake their benefits.

Lum’s objective is to develop a consumer-centric item that’s simple to utilize and provide brand names the capability to utilize the neighborhood they developed– without leaving the neighborhood behind.

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