Loki Wants to Power the Whole World, Rebrands to OXEN
It is not unusual for brands and businesses to make bogus claims such as “the best pizza factory in the world” or “the only AI-powered text-book in Chicago.” However, this might not be the case for Loki when it tweeted on November 10 that it was evolving into something bigger and better.
Loki is evolving into something bigger. Something better. Something designed for the whole world to use every single day.
In a bid to keep up with the evolving cryptocurrency landscape and present itself as a robust solution for both news users and developers, Loki is rebranding to Oxen. Whilst Loki, a fork of Monero has developed a rich technology stack over the last three years, its framework is hard for developers to understand. Many newcomers also view the project as a platform with several seemingly unconnected products and features. The rebranding to Oxen is expected to solve this challenge.
Oxen has been dubbed “a new era for Loki” and will open the potential of Loki Network to developers who want to enhance the privacy and security of their products. The Oxen stack will allow enterprises and projects develop messengers, encrypted voice and video call services, P2P networking replacement library, and virtual LAN functionality, amongst others.
Meanwhile, Loki’s foray into the DeFi space with Chainflip has changed its roll-out plan. The earlier plan was to launch a centralized beta version which will eventually change into a decentralized version overtime. However, the new plan is to deliver a fully decentralized version in one go. Chainflip will enable trustless asset swapping services once complete.