LIGHTChain is launched by OKEx and the world's first double-layer blockchain technology receives interest

PALO ALTO, Calif., Jan. 19, 2018 /PRNewswire/ -- According to official resources of OKEx, the global cryptocurrency exchange, LIGHT has been recently launched.

At 15:00, January 19, LIGHT recharging was opened. At 19:00, January 19, LIGHT transaction was rolled out. At 18:00, January 22, LIGHT withdrawals will become available.

LIGHT is supported and favored by fans of the coin circle as the world's first double-layer chain and for having millisecond transaction speed.

There are still many problems with the blockchain project still in its beginning stages, such as poor system scalability, low transaction efficiency, excessive power consumption, and risk exposure in deep applications, which have not yet been effectively solved and, thus, put restrictions on further development of the blockchain project. Under the circumstances, LightChain - the world's first double-layer chain - was born with the mission to solve such problems. LightChain will effectively overcome such difficult situations and create a new era of the blockchain.

The world's first Double-layer Chain emerges

The biggest highlight of LightChain is that it adopts the double-layer chain architecture technology for the first time in the world. The double-layer chain, as its name implies, consists of two layers of chains - the prime-chain and the sub-chain, where there is only one prime-chain similar to the basic principle of traditional public chain and there is one or more sub-chains independent of each other and arbitrarily expanding. In the past, all the blockchain projects adopted the single-layer chain architecture technologies, such as Bitcoin and Ethereum. In terms of the single-layer chain architecture, a series of work including all the information circulation, recording and storage will be completed in the blockchain system with single architecture, so it is difficult to access other applications with relatively slow transaction speed and poor performance expansion.

Nowadays, LightChain creatively utilizes double-layer chain architecture, the prime-chain continues to maintain the advantages of the previous blockchain technology - effectively ensuring that the super-book records are not tampered with while the sub-chains can be continuously expanded and arbitrarily adjusted based on the needs of real-life scenarios so that the system can be improved in flexibility and scalability.

Millisecond-level transaction takes the lead in the market

With the strong support of the double-layer chain architecture technology, the LightChain can run at speeds up to 10wQPS while effectively keeping super-book records not to be tampered with. This revolutionary achievement will make the LightChain stand out from many blockchain projects. In the double-layer architecture of the LightChain, the system makes use of Proof of Machine (PoM) validation to ensure that data can be processed in time and takes use of In-Memory database cache to effectively improve the cache efficiency and, thus, greatly improve the performance.

In addition, the transaction record periodicity of sub-chains keeps pace with that of the prime chain to ensure that the parent chain has complete transaction records of the whole network, which will be updated in packages. In this process, the records in the data packet have been checked in the sub-chains; thus the prime-chain can be updated directly without check for the second time, which thereby greatly enhances the operation efficiency. Thus, it can be seen that the millisecond transaction becomes feasible with the application of the advanced concept of the double-layer chain and, accordingly, further promotes the development of the blockchain in an in-depth manner.

A legend created by an excellent team

A cutting-edge project cannot be successfully launched without the hard work of the supporting team. Similarly, the LightChain project is an innovative achievement and the entire LightChain team closely follows the trend of the times, grasps the pulse of the times and does extensive research. LightChain has an experienced international R&D team that includes more than 40 scientists and engineers who have been working in the area of blockchain, digital currency and other fields, led by Jason Jia, a senior scientist at Baidu.

According to the object design, the LightChain project will be implemented in four stages: in stage 1, the team will focus on the performance of the blockchain and a large number of performance and security tests on PoW and PoS will be conducted. Stage 2 of the LightChain project was formally launched on the basis of prior technological preparations. This year, the LightChain project will enter into stage 3 and a series of tasks will be carried out, such as founding of the Foundation, closed beta testing of LightChain, open testing of LightChain, formal release of LightChain (v1.0) and formal opening of LightChain to DAPPs. Upon completion of the above works, the team will start to build the ecosystem of LightChain in stage 5. It can be seen that the LightChain project cannot be accomplished overnight and has to be based on the steady and gradual work of the team.

Stage 1

2015: The team started to study performance of BlockChain
2016: The team carried out many performance and safety tests on PoW and PoS

Stage 2

2017: The LightChain project was formally launched

Stage 3

2018 Q1: The foundation of LightChain will be established
2018 Q2: The closed beta test will begin
2018 Q3：The open beta test will begin
2018 Q4: The formal version of LightChain (v1.0) will be released
2018 Q5: LightChain will be formally opened to DApps

Stage 4

LightChain, innovatively applying the double-layer chain architecture technology, brings extraordinary experience in millisecond-level transactions while setting up a bridge between the real world and the parallel world and it's looking forward to discovering the future development of LightChain.

SOURCE LightChain Corporation