USDX Wallet

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USDX Wallet is a mobile-first payment solution powered by blockchain technology and featuring a stable cryptocurrency, USDX. It’s targeted at a wide audience of crypto holders, allowing individuals to send and receive funds easily, clearly and without commissions. The USDX Wallet app guarantees multi-level security for all transactions and instant transfers of assets by username, phone number or QR code. The native blockchain used by the USDX Wallet is based on tried and true BitShares protocol and allows 100,000 transactions per second.

Founded in July 2017, headquartered in Frankfurt, Germany. Have an office in Moscow, Russia.

History[edit]

Lighthouse Blockchain Technology GmbH, a parental company for USDX Wallet, was founded in July 2017. Lighthouse is a company made up of entrepreneurs and crypto enthusiasts united in their aim of boosting innovation in the digital economy. Lighthouse possesses extensive experience in implementing complex, tech-savvy solutions. The team consists of professionals in finance, project management, software development research, design, and marketing. Lighthouse also gave a name to LHT coin, a core cryptocurrency for USDX Wallet solution.

USDX Wallet MVP was launched in March 2018, followed by a successful release of the mobile app on the App Store and Google Play in April.

As of May 2018, one thousand people have installed the USDX Wallet mobile app and started to use it. In December 2018 the number of users rapidly grew till 10 000.

As of March 2019, there are more than 50 000 using the app, transferring around $60 000 monthly.

Founders[edit]

There are three founders of the Lighthouse Blockchain Technology GmbH.

Andrey Peshkov is the founder and Chief Executive Officer of Lighthouse Blockchain Technology GmbH. Before starting USDX Wallet project, Andrey spent more than 10 years. managing financial divisions of large companies while holding the position of CFO. He has proven experience of fundraising of more than $300 million and completing M&A deals amounting to more than $500 million. Andrey has been managing and implementing projects for the integrated development of the territory, the power industry, the real sector of the economy, high tech, and health care.

Another co-founder is Evgeny Sapunov, Head of Growth. Evgeny has extensive experience in managing the IT departments of large Russian corporations and investment funds. He successfully managed the development of high-load data processing systems, mobile apps, and CRM systems of various levels of complexity. In recent years, he became interested in the marketing field and passed a number of courses to develop and enhance his marketing skills.


Third member of the core team is Dmitri Zhuravlenko, Chief Technology Officer. Dmitri has over 10 years experience in software engineering, including web and mobile applications development, hardware projects and high load solutions for fintech, logistics and education. He uses agile practices, process automation, and maintains principles of clean code and architecture. Throughout his career, he worked at major US and Russian companies like PwC, GridUnity, Pixonic, Commersant and PIK Group.

Besides founders, there are 20 more people in the company, working on development, design, marketing of USDX Wallet money transfer mobile app.

Blockchain[edit]

USDX Wallet uses blockchain technology, which is based on the core of open-source Graphene/Bitshares projects. Due to its features the team have chosen to use existent solutions, rather than the development of the in-house system. The decision was influenced by the fact that the Bitshares technology offers high flexibility, mature and time-proven code base.

The Bitshares project has several benefits that separate it from other solutions. Most important of these are:

  • A Delegated Proof of Stake (DPOS) consensus algorithm allowing:
  • Reduced resource requirements for verifiers
  • Environment-friendly
  • Fast transaction processing
  • Decentralized network management solution
  • 100,000 TPS (transactions per second) possible due to the technology of input/output disruptors and single thread ordering
  • Multi-signature transactions and hierarchical key structure that provides a means for flexible account management

LHT[edit]

LHT is a core cryptocurrency and collateral for the USDX token. LHT has a finite supply of 1 billion coins. The coin is based on the exclusive Lighthouse Blockchain. This blockchain is built using tried-and-tested BitShares protocol but operates independently. LHT can be quickly and with no fees exchanged to USDX stable coin via USDX Wallet app. The interconnection between LHT and USDX entails that LHT demand and price rise when the cryptocurrency market goes down.

USDX[edit]

USDX is a price-stable token pegged to the US dollar at a 1:1 ratio via a smart contract. Simply put, 1 USDX = 1 USD. Each USDX token is collateralized with at least 200% worth of the core LHT cryptocurrency. A smart contract controls token supply. Due to its stability, USDX is useful as a means of payment, exchange, and savings. Unlike cash, it can't be lost, stolen or damaged

Interesting facts[edit]

  • Unlike many blockchain startups, USDX Wallet did not have an ICO
  • The CEO of USDX Wallet, Andrey Peshkov is also the CFO of Technopolis Moscow Managing Company since 2011. Technopolis Moscow is a Special economic zone. Five sites of it are the key hubs of Moscow's innovative ecosystem dedicated to the localization of hi-tech industries and research facilities of tenant companies. The project is supervised by the Department of Investment and Industrial Policy of Moscow. Territory: 142 ha, 130 companies operating.
  • Company was founded on the 4th of July, the U.S. Independence Day.