Global Blockchain Opens Laser Protocol to Boost Interoperability

Global Blockchain Opens Laser Protocol to Boost Interoperability | Ecency

Today I will enlighten you concerning another project.The activity gathering of IT-masters proposes to make another effective ecosystem of products that can tackle these squeezing issues. The name of this project - Laser Blockchain. Laser Coin is a new promising cryptocurrency based on open source code and open Protocol to provide secure settlement operations around the world. The basic platform of the project is based on full decentralization based on a distributed network of service nodes (masternodes). In the world, there is a huge number of cryptocurrencies, but all of them mainly exist in parallel and separately, not noticing each other and not knowing anything about the neighbors in the infrastructure. The main task of the ecosystem of the Laser - to remove these kind of serious inconvenience.

What exactly does Laser do?

Laser is a service layer model that operates on top of a blockchain network. It provides services that may not be native to a given blockchain, such as near-instant transfers, and anonymous transactions. It also has the capability of interacting with other blockchains that also have this service layer, effectively enabling separate blockchains to seamlessly interact with each other.

A Laser Protocol is SWIFT for Block-chain?

You might have heard fin-tech experts calling Laser Protocol SWIFT for Block-chain. Here we are getting some questions about what that actually means. Now we are going to clear the actual meaning of that up, so you can link in the LASER revolution with full understanding. Let’s start with the SWIFT.

How can transactions take place across blockchain?

By creating a "generic" address code, users can deal with one another across blockchains under a single username system. Since blockchains with the Laser service layer can now “speak the same language”, these two blockchains can interact with one another enabling cross-blockchain trading. Please see our whitepaper for a detailed explanation of this functionality.

How will laser differ from existing blockchain solutions?

The primary difference is in accountability. The true backbone of blockchains is the supply of full nodes to verify transactions (not the supply of miners, which process transactions). Since these full nodes generally are not rewarded as miners do, there is little incentive to operate them. Laser’s model provides for compensation of full nodes, while also requiring them to put up collateral in order to operate. With incentives to provide stable computing resources, and do so honestly, Laser will ensure a reliable, trustworthy, and sustainable blockchain environment. Currently, there is no similar system for cryptocurrencies. The laser blockchain will work in parallel with existing blockchain networks (e.g. Bitcoin blockchain) and will be able to translate the unique attributes of clients and nodes on each blockchain (e.g. wallet number) into a “common” code that can be understood by all the blockchains that work with the laser. This "universal" code effectively allows blockchains to speak a common language. As a result, one owner of any cryptocurrency will be able to send it to any other wallet, without going into details and without using an insecure intermediary.