In the meantime, blockchain based solution have several issues to be used in realistic world scenarios. Frist, scalability. In terms of speed, blockchain is pale and lagging off compared to current monetary transaction system. Second fungibility. Since cryptocurrencies are stored in a public distributed ledger, its historical transactions are transparent and can be traced hence will make a problem if the transaction comes from a troublesome/blacklisted address. Third, utility fragmentation. There are more than 1500 cryptocurrencies available on the market and still adding more. This makes the crypto's highly fragmented and could potentially make newcomers confused. Also from utility perspective, this fragmentation will make it difficult to be implemented with ease.
With these problems already on the surface, Laser protocol offers an universal intermediaries to bring real world use become one step closer to reality. In the real world counterparts, it's analogues to the SWIFT (Society for Worldwide Interbank Financial Telecommunications) where everyone could make effortless and instant transactions between two different FIAT currencies by using standardized protocol that is accepted as de facto standard by more than 230 banks and financial institutions in the world.
General Overview of Laser Network
Laser Network is a mechanism of blockchain agnostic service layer which rewards full node providers with its native currency called photons to make any blockchain solution more scalable, interoperable, private, and more rewarding for the full node providers which run the service layer (it is estimated they will receive 36% payouts of photons per year ).
Laser platform is planned to be built from Ethereum blockchain hardfork. In essence, there are two core features it offers :
1. Blockchain Interoperability and Fast Inter-chain Transactions
Seamless inter-chain transaction is possible with the use of DEX (decentralized exchange) on the top of laser protocol service layer. This will cut the need for centralized exchanges, the current main method of transacting between cryptocurrencies which has considerable cost of money and time.
2. Anonymous Transactions Feature
To enable fungibility and other aspects related to anonymity, Laser protocol employs 'join service' mechanism where this technique will obfuscate transactions between two parties hence makes them untraceable on blockchain explorer.
**Roadmap **
Laser protocol will have complete interoperability between bitcoin and Ethereum after Q1.
Team and Board of Advisors
Team members are looking strong with Shidan Gouran (Global Blockchain Technologies) acted as CEO.
Board advisor members . Info regarding recent board of advisors assembly can be viewed in this official blog post
https://medium.com/laserprotocol/global-blockchain-announces-laser-subsidiary-and-eight-new-advisors-1cea27619f7c
Token Economics, and ICO Event
Photons will be capped at 42 million units. EETH and ETC holders will receive photon airdrops with the original proposed distribution plan as follow :
Currently private sale is already happening and public sale will hold in the near future.
Further References
Whitepaper : https://laser.xyz/static/WhitepaperLaser.pdf
Website : https://laser.xyz/
Any inquiries regarding the project development can be addressed to team members via telegram channel on :
https://t.me/LaserXYZ
