What is LOKI?
LOKI was a decentralised, open-source privacy project and encrypted messenger built on the CryptoNote protocol, the same base that underpins Monero. It was founded in early 2018 by an Australian team and raised a reported US$9 million in a private sale that year. The coin became mineable on the CryptoNight Heavy algorithm in May 2018.
For a complete in-depth review of ‘What is LOKI?’, you can view the following interview of Tech Lead Kee Jefferys & Project Lead Simon Harman at the Melbourne Blockchain Centre Presentation.
For a short explanatory video on ‘What is LOKI?’,
The development team at LOKI is full of experienced, well renowned and respected members of the block chain industry. Fortunately for the project, it has been able to benefit from the support and involvement of former Monero developers. Tom Winget, who has worked on Monero development extensively , is now one of the developers leading CryptoNote optimisation at LOKI. To have Tom on the LOKI project is a major benefit and credit to the LOKI team.
Project lead Simon Harmon and tech lead Kee Jeffreys have both made outstanding contributions to the block chain network and have achieved above and beyond what many thought was even possible. Simon and Kee have been entirely transparent and responsive during their interactions with the community, including their interaction on Telegram, Discord, Twitter and direct messaging.
For more information on the entire development team, please visit their website.
It has been a breath of fresh air for the Members of MiningStore who have been dealing with the development team, and we want to thank them and provide credit to them for the way they are caring out the project.
Was LOKI Ever Suited to ASIC Mining
No. This is worth stating plainly, because it was a common misconception at the time. CryptoNight was deliberately engineered to be ASIC-resistant and to favour CPU and GPU mining, so an ASIC miner was never the right tool for LOKI.
For a period in 2018, LOKI was among the more profitable CryptoNight coins to mine, which is why it attracted attention from home miners running ordinary hardware. In 2019 the network moved to a RandomX variant, the same family of CPU-friendly algorithm that Monero adopted, before dropping Proof of Work altogether the following year.
Service Node Applications (SNApps)
SNApps are anonymous, decentralised and uncensorable which serve as the tool on which applications are built that mainly focus on privacy and resilience. The first of LOKIs SNApps is their end to end encrypted privacy messenger (as mentioned above), listed on their website for a JAN/FEB 2019 release. LOKI has identified their target users as those who want the highest level of privacy in their communication channels. LOKI can also offer its network to 3rd party developers to then establish their own privacy-centric applications on.
Service Nodes
LOKI introduced Service Nodes on September 20th. Service Nodes are LOKI’s version of Master Nodes; they add a Proof of Service (POS) requirement to a block chain network, thus increasing the LOKI networks protection against cyber-attacks.
To have setup a LOKI service node on release, you needed to stake 45,000 LOKI for 30 days. The idea is that as more nodes are setup, more LOKI is removed from the market, thus reducing the supply and increasing the price. The basic idea is that it then becomes exponentially more expensive to obtain enough LOKI & Service Nodes to complete an attack on the network.
For more information on LOKI Service Nodes, why they’re important & how to get started, check out this article written by Will on dapp.tech.
The future of the project
It is fair to say that the LOKI project is ticking all the boxes. They have an outstanding team who is dedicated to the overall project and is taking the communities best interests in mind to achieve its end goal. They have an impressive and beautifully engineered application which will enhance privacy of messaging and web interaction. The possibilities that this holds for future SNapps is endless.
Overall LOKI is an impressive team, a professionally engineered product and has endless future application to offer.
Can You Still Mine LOKI
No. LOKI stopped being mineable in October 2020 when it moved to full Proof of Stake. It rebranded to Oxen in 2021 and migrated to Session Token in May 2025. There is no mining reward and no hardware setup that can mine LOKI, Oxen, or Session Token today.
Conclusion
LOKI, an Australian-founded privacy project based on Monero, has quickly established itself as a formidable player in the crypto mining landscape. With features like ring signatures, confidential transactions, and stealth addresses, LOKI provides enhanced privacy and security. The introduction of Service Nodes adds an extra layer of protection, making the network more resilient to cyber-attacks.
For those involved in crypto mining in Australia, this is an exciting opportunity. The profitability of mining LOKI, combined with the current advancements and future potential of the project, makes it an attractive option. Using an ASIC miner and a reliable bitcoin mining calculator can help optimize your mining strategy and returns.
Mining Store Australia is here to assist you in navigating this promising landscape. Book a free 30-minute consultation with our experts to learn more about setting up your mining operations, whether it’s for LOKI or other profitable cryptocurrencies. Our team will provide personalized advice to help you maximize your investment in crypto mining. Don’t miss out on this chance to enhance your mining profitability with Mining Store Australia.
