LASER PROJECT (ICO 2018)-BLOCKCHAIN WITHOUT BORDERS

INTRODUCTION

Considered by many to be the new type of Internet, the blockchain technology is an invention that allows for the distribution (but not the copy) of digital information and was initially devised for the Bitcoin cryptocurrency. As defined by Don and Alex Tapscott, the authors of ”Blockchain Revolution”, ”the blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.All the information, that a blockchain contains, exists in the form of a shared database. This information is not stored at any location, which, in fact, means that the records kept are publicly accessible and can be verified with ease. In other words, the database is hosted by a network of millions of computers simultaneously, which makes it accessible to anybody with a connection to the Internet.Since a blockchain network can be perceived as a sort of a ”self-auditing ecosystem of a digital value” and every transaction that occurs is reconciled in specific time intervals, all the data contained within the blockchain is transparent and incorruptible.

If we are to classify blockchains, perhaps the most general differentiation would be as follows:

Today, I will be presenting you a particular undisputed project called: LASER

Global Blockchain recently announced the introduction of a service layer technology called Laser which works by operating on top of existing blockchain networks and optimizes its functions as per the user’s requirement.

WHAT IS LASER?

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. Laser is built on a fork of the Ethereum blockchain.

Laser is not a cryptocurrency by itself. However, Laser will have its own crypto coin called a Photon. All holders of Ethereum currency before the hard fork will receive the equal number of Photons on upgrading.

A major advantage of this platform is their speed of transactions. Using an overlay protocol, nodes are able to perform verification checks in a matter of milliseconds in order to “pseudo confirm” transactions, without having to wait for a matter of minutes or longer.

FEATURES OF LASER

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Users looking for anonymity can enjoy the benefits of Laser too. With a joining technology, same-currency transactions are bundled together and sent to a “ghost” wallet that is pre-programmed to redistribute the lump sum according to the amounts specified by the original senders, to the recipients specified by the original senders. This optional service will obscure details of previous ownership of a given token, preventing transactions from being traceable on the blockchain.

The primary difference between Laser and its competitors is in accountability. The true backbone of blockchains is the supply of full nodes to verify transactions. Since these full nodes generally do not get rewarded like 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.

TEAM

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