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A blockchain infrastructure that aims to disrupt the blockchain storage industry has launched its mainnet. Lambda, a Beijing-based company, has finally launched its main blockchain network — a big step closer to fully developing its global ecosystem.Lambda is a fast, secure and infinitely scalable decentralized storage network. The system enables data storage, data integrity check and security verification, while also offering a marketplace for storage-related services all based on the Lambda Chain Consensus Network.
To mark the launch of its mainnet, the company held the Lambda Node Consensus Summit last September 3, 2019 at Dayuan Hotel in Beijing, China. Celebrating the milestone were the Lambda development team, 59 validators and two miners.
“Lambda’s vision is to create a secure, reliable, and unlimited expansion of decentralized storage networks with value attributes,” Lambda founder and CEO, Xiaoyang He noted during the summit.
“The Lambda team will make efforts to promote the development of the entire cryptocurrency industry while allowing users to have one more option in the blockchain infrastructure.”
Lambda’s aim has always been to create a storage infrastructure for the next generation of the Internet — a platform that will take advantage of today’s decentralized technology and the growing demand for storage services, but making sure the network is secure and dependable.
Security is the core of decentralized data storage. This is why Lambda uses the Proof of Space Time (PoST) algorithm to ensure data storage security, and the Verifiable Random Function (VRF) and the Byzantine Fault Tolerance consensus algorithms to ensure the operational efficiency and reliability of the consensus network.
The vision is to have a decentralized storage network with validators running the ledger and storage miners offering the space. Lambda storage network and Lambda consensus network are composed of data storage transaction markets, miners (storage space providers), validators (ensuring data integrity and package transactions), users (storage demanders), and retrieve miners (data transfer resources).
“Lambda supplies service providers and users with trading capacity. Users rent and pay for storage space, while storage service providers obtain the appropriate service revenue.”
Aside from marking the official launch of Lambda’s mainnet, the company also discussed its next steps in developing the robust decentralizes storage network and its plans for the future.
According to Lambda COO Haiqiang Gao, node creation and access to Lambda’s consensus network has already begun, and will be fully completed by end of September. The entire storage network will be launched in October, and by December, the mainnet will be fully activated.
During the summit, the Lambda development team, its executives, the validators and miners also discussed and implemented main proposals for the decentralized storage network and the mainnet. The Lambda Community Governance Committee was also established to help draft constitution, outline blockchain parameters and make decisions about network as needed.
“We will contribute our efforts and grow together with Lambda to build the Lambda Ecosystem,” a representative of the Lambda Community Governance Committee.
To learn more about Lambda, its mainnet, projects and services, visit lambdastorage.com.
Contact Info:
Name: Patti Lin
Email: Send Email
Organization: Lambda
Website: https://www.lambdastorage.com/
Release ID: 88918843
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