LightChain LIGHT

$0.00003795
Market Cap $ 0.000 (#429)
24h Volume $ 301.542 K
Chg. 24h: 18.93%
Algo. score 2.5/5  (#1068)
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LightChain project purpose and description

LightChain clarity of purpose

LightChain purpose and aspects

Light Chain (LIGHT) is designed to be the world’s first double-layer chain. The LIGHT network is composed of one prime-chain and numerous sub-chains. The prime-chain works like bitcoin to provide an immutable and transparent super-ledger while sub-chains provide a fast network (performance level of 100k query per second) under the prime chain, it syncs up with the prime-chain on a regular basis. and is suitable for all applications including high-frequency transaction. By solving the scalability and performance problem of decentralized networks (e.g. Bitcoin and Ethereum), LIGHT’s double-layer structure can be utilized to all applications in mankind. The Light Coin: In LIGHT’s ecosystem, we preset a constant number of Light Coins. Similar to the bitcoin and Ethereum systems, miners are rewarded by Light Coin through PoW on the prime-chain; - Gas is burned every time the sub-chain syncs up with the main-chain. The gas is rewarded to miners; - A certain number of Light Coins must be pledged when a sub-chain is created. The pledged Light Coins can be used as Gas in the sub-chain, and the number of LIGHT Coins pledged grows over time

LightChain categories

Internet decentralization

Short description

Light Chain (LIGHT) is designed to be the world’s first double-layer chain. The LIGHT network is composed of one prime-chain and numerous sub-chains. The prime-chain works like bitcoin to provide an immutable and transparent super-ledger while sub-chains provide a fast network (performance level of 100k query per second) under the prime chain, it syncs up with the prime-chain on a regular basis. and is suitable for all applications including high-frequency transaction.

Abstract

The emergence of blockchain technology brings us enormous benefits, but the performance and scalability issues makes it difficult for blockchain technology to be widely adopted. We can truly embrace the benefits of blockchain technology only when we solve the performance and scalability issues. We propose a solution to the performance and scalability problems. Light Chain (LIGHT) is designed to be the world’s first double-layer chain. The LIGHT network is composed of one prime-chain and numerous sub-chains. The prime-chain works like bitcoin to provide an immutable and transparent super-ledger while sub-chains provide a fast network under the prime chain, it syncs up with the prime-chain on a regular basis.

Link to Roadmap: https://bitcointalk.org/index.php?topic=2729551.0
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