Lightstreams ICO review: Ethereum-based blockchain protocol that specialises in supporting Decentralised Applications (DApps) that require high speed and privacy for sharing content. The protocol is designed to be an open ecosystem that is version compatible with the main Ethereum protocol such that existing developer tools and libraries can be using with Lightstreams. DApps are a new breed of application that run on a peer-to-peer network in contrast to traditional applications that run on centralised servers. DApps promise to revolutionise almost every industry by removing the reliance on intermediaries to manage interactions between users in a system. In turn, this disruptive technology will unbundle many markets and open the way for new business models that are more efficient, have lower costs and can democratise access to all.
Lightstreams key differential is it solves the problem of blockchain data storage when sharing content between users. Data storage size, speed and privacy are key elements for any DApp to be viable. Current blockchains can only store a limited amount of data and high fees are charged for this service. Lightstreams allows for uncapped data storage with no associated blockchain transaction fees. Current blockchains also have slow transaction speeds which can make the user experience of DApps seem unresponsive in comparison to traditional applications. Lightstreams solves both transaction speeds and data transmission by utilising a fast consensus mechanism and a peer-to-peer file sharing respectively. Finally, current blockchains have next to no privacy. Lightstreams solves this by designing an award-winning file sharing protocol call Permissioned Blocks that bring both privacy and confidentiality to sharing content.
Lightstreams ICO review: it addresses one of biggest questions floating around in the world of Blockchain and Cryptocurrencies and that is whether it is scalable or not and what’s stopping the Blockchain to becoming mainstream. Lightstreams Photon Token is about to be launched and it has already created ripples in the Blockchain Market as Lightstream’s technology is capable of emerging as the solution to current limitations of Decentralized Apps and Blockchain projects running on Ethereum’s Smart Contracts protocol. As Lightstreams seems to make an honest attempt with a very convincing answer to these questions it is important to understand how.
Though digital currencies developed with the aid of Blockchain Technology are now more popular than ever, there’s still a long way to go for them to become the mainstream alternative for payment transfers and transactions. Ethereum’s Blockchain allows for a Smart Contract feature making it easier for businesses and startups to develop their own tokens with their own pre-defined terms and conditions, however, the pertinent problem of scalability haunts all such protocols as they fail to provide a solution to issues of data protection and privacy and also with growing congestion on Ethereum’s Blockchain and with its Proof of Work Consensus mechanism the transaction verification process is extremely slow and the wait time for transaction processing is constantly increasing. As of last month, the wait time on Ethereum’s Blockchain was as long as 6-8 hours. Moreover, the transactions costs are higher. Adding to the problem is growing security concern as complete decentralization followed by POW (Proof of work) protocol allows every node on the network an access to the data which is crucial. The problem of data storage when sharing content on Blockchain network is a major hindrance to developing decentralized apps.
Lightstreams addresses these three major problems of Data storage, slow transactions speed, and data security and confidentiality. What’s exciting about Lightstreams technology is that it provides a convincing solution to the problems which is stopping blockchain to go mainstream and also provides Businesses and DApps with enhanced privacy controls and faster transactions. It is a modification of Ethereum protocol with added security and faster transaction processing abilities while still being compatible with Ethereum’s ecosystem. This means that Lightstreams is developed on Ethereum’s Blockchain but it allows for faster transaction processing, lower transaction costs, and most important of all an unbreachable data security.
COMPLIANCE WITH DATA PRIVACY REGULATIONS
Lightstreams Network promises its users with great user experience and most important of all it provides the Blockchain projects with necessary tools which are fully compliant with various Data privacy regulations. While the upcoming European General Data Protection Regulation (GDPR) enforcement on 23d May is threatening the operations of a number of Blockchain Projects because of an inherent lack of Data and privacy Control for the users the noncompliance with data privacy may lead to their closure and amount to a violation of data privacy regulation. Hence, it is very important for such Blockchain projects to resort to a Network protocol that helps overcome such issues and makes the operations compliant with existing and upcoming Data privacy regulations. The Lightstreams Network offers a complete solution to such Privacy compliance requirements and it wouldn’t uncommon to see several Blockchain projects shifting to the Lightstreams’ Network in very recent future.
STORMING THE DAPP MARKET
Decentralization has already been redefining the existing and upcoming business models. DApps stand for Decentralized Applications and unlike traditional applications that run on centralized servers Decentralized Applications run on peer to peer networks. The Ethereum Smart contract feature along with its Blockchain technology has fairly set the road ahead for DAPPs but there are limitations. While DAPPs are the future of Blockchain projects the existing technologies do not provide a comprehensive solution addressing the scalability issues of such protocols. Here it is important to understand that as more and more businesses are becoming decentralized the Market for DApps will take quantum leaps in terms of growth. Lightstreams is looking forward to spearheading the market providing the essential network helping overcome the limitations of the current generation of DApps. You can think of Lightstreams as the ultimate resort of Blockchain Projects and DApps facing scalability issues on Ethereum’s or other such Networks that fail to provide Data protection and fast transaction processing.
WHY LIGHTSTREAMS STANDS OUT FROM THE CROWD?
Lightstreams in terms of technology is much ahead of its competitors and existing Blockchain networks. Comparing Lightstreams on these parameters which are essential to scaling we can get a better picture of why Lightstreams has a potential of becoming an indispensable Network for Dapps and other Blockchain projects.
> Data Storage - Storage of Data on a Decentralized network is essential to scalability and operations of any decentralized app or Blockchain project the current solutions fail to offer flexibility in terms of volume and cost-effective storage. While on Ethereum’s Network only a limited amount of data can be stored it also charges a fee for data storage restricting the use of such data storage. This negatively impacts the ability to scale and expand in terms of innovation and reachability.
> Speed - The transaction processing speed of Ethereum’s network is very slow and its block time is around 14 seconds which with increasing traffic on its Blockchain is becoming a serious concern for scalability of major Blockchain projects. While they are relying on solutions like sharding it is yet to be proven and tested.
> Privacy Protection - Privacy protection is the most important aspect that has been limiting the Dapp Market and other Blockchain projects from scaling. While there are projects like Swarm and ZK snarks that do tend to offer a solution but they have costs attached to it (Swarm) and fail to offer the privacy protection (Zk- Snarks).
The Light stream network not only assures of Data privacy and protection, it also allows for storage and transfer of large files along with a much better transaction speed when compared to other Blockchain Networks. It is based on Proof-of-Authority Consensus mechanism for issuing new blocks and securing the Blockchain. The Lightstream Network will also make use of Tendermint consensus which will give an approximate block time of just 1-3 seconds.
PARTICIPATING IN LIGHTSTREAMS ICO - IS IT WORTH?
There’s not an iota of doubt the Lightstream has a promising technology and has all the attributes of becoming a leader in the DAPP market given how convincingly it offers a solution to major problems Blockchain projects are facing today. Being a part of this innovation is definitely a chance you wouldn’t want to miss. Lightstream will be operating through its own token called Photon (PHT). The maximum cap for Lightstream token sale is $20 Million and a total of 165, 000,000 Photons will be sold during the open sale. A soft cap for initial sale is 300,000,000 photon.
On top of the bright prospects of Lightstreams technology, there is much more to this Project which makes it exclusive and one of the hottest upcoming ICOs. There is a big question mark on what could be the best solution addressing the questions of scalability of existing and new blockchain projects and major investments are coming in for developing such solutions. Lightstreams Network is one of its kind solutions and it is very likely that it quickly becomes a hot favorite and the only question that remains is how to make it to the Presale and Crowdsale of Lightstream ICO.
Moreover, as Lightstreams is all set to launch their ICO, it boasts of a performance-driven, strong and diverse team of experienced experts. Michael Smolenski, CEO Light streams, an ex Goldman Sachs software Engineer, has a proven record of contributing to several successful Blockchain ventures including a range of awards (Consensus Blockchain Hackathon 2017 applying Lightstreams technology to micro-insurance, Santander Bank Global Distributed Ledger 2016 for a Real Estate blockchain concept called Midasium and Citibank Mobile Challenge 2015) to his credit. With specialized industry experts like Nick Brown (Business Development Head) and Steve Keane (Digital Design Lead) who have a vast pool of experience of over 20 years, the team behind Lightstreams is versatile. The Advisory board hosts experienced experts across the spectrum and is equally diverse and successful.
Anybody who’s keeping a close watch on what’s happening in the Digital world today knows that Data Protection and Privacy is the talk of time. Be it blockchain projects which offer distributed ledgers and decentralized data storage or other projects like Facebook where everything is fairly centralized - Data storage and privacy is important so much so that even the governments are responding with stricter data privacy and protection regulations. In the wake of such measures, a threat of closure looms over a range of blockchain projects in particular because of the absence of a Network protocol which allows for quicker transfers, storage, and data protection. Lightstream is the key to unlock the potentials of Blockchain as it offers a proven solution to all major concerns of scalability. It will be the hottest upcoming ICO as it offers a long-term and trusted solution developed by an equally trusted and strong team of experts.
Proof of Concept was demonstrated at Consensus 2017 Hackathon.
First tokens for fueling the network are available for sale.
Launching of network infrastructure.
Commencement of decentralised governance where token holders decide policies.