THELOGICALINDIAN - LightChain is a doublelayer technology that promises to break blockchains achievement issues Indeed LightChain hopes to advance blockchain technology into the millisecond transaction era
Granted, Bitcoin’s apathetic transaction processing acceleration and aerial transaction fees are the best acute issues afflicting the cryptocurrency ecosystem. By design, there is alone 1MB of abstracts accessible per Bitcoin block. That is, aloof 1 MB of transaction abstracts is allotted every 10 minutes.
LightChain offers to fix these issues by introducing a new blockchain architectonics that comprises one prime-chain and several added sub-chains. LightChain Corporation believes that this technology will accomplish accessible the processing bags of affairs per second.
The prime-chain, like Bitcoin’s blockchain, provides immutability and transparency. The sub-chains, on the added hand, accommodate the fast arrangement services, by synchronizing and transcribing the affairs assimilate the prime-chain on approved bases. According to LightChain Corporation’s press release:
LightChain brings to the beginning the abstraction of Proof-of-Machine (PoM) to validate the affairs that are accomplished on the sub-chains. Additionally, the achievement of the sub-chains is added by application an in-memory database cache.
The in-memory caching arrangement increases appliance achievement by application frequently-requested abstracts in memory, appropriately decidedly abbreviation the charge for database queries to get that data.
In the LightChain architecture, there is alone one prime-chain or mother chain, which preserves the attributes of Bitcoin’s blockchain: immutability and transparency. However, the sub-chains use Proof of Machine for validation purposes, as the white paper explains:
Bitcoin started the year with the addition of several schemes and new technologies able to abode Bitcoin’s scalability problem. Examples of these options accommodate SegWit, Lightning Network, and Schnorr signatures. Now LightChain promises to aggrandize the cardinal of access options. Hopefully, aloft analysis of these options, stakeholders will abutment their acknowledged implementation.
How do you anticipate LightChain’s acceptance will appulse Bitcoin transaction fees and speeds? Let us apperceive in the comments below.
Images address of LightChain Foundation, AdobeStock
