Based in Singapore and Australia, Lambda Protocol is a decentralized, open-source overlay network for unrestricted access to decentralized applications (DApps) and facilitating interoperability of cryptocurrency wallets and DApps. It allows users to leverage existing browsers to link their apps to millions of devices being used every day.
The advent of Ethereum and its popularity as a network has opened the possibility for self-executing programs— “smart contracts” — to exist in a network tolerant of failures and difficult to manipulate. Through the execution of these contracts in a virtual machine integrated with the Ethereum blockchain, a new set of truly server-less, decentralized and ultimately trustless applications are able to be developed.
ĐApps provide numerous attractive properties, including the immutability of state, fast transaction confirmations and the ability to operate without a central governing body. These properties makes ĐApps an attractive choice for building banking infrastructure, KYC/AML infrastructure, investment fundraising applications and a multitude of other areas.
Problems with DApps
Interest in the developer community for experimentation with and development of DApps has grown exponentially in the past year. With interest on the consumer side also growing with increased awareness of potential, specific issues limiting the mass adoption of blockchain protocols must be addressed. Lambda protocol recognizes the following problems with the status quo,
Centralized Point of Access
Most accessible browsers for decentralized web are centralized, meaning that add-ons providing access to decentralized networks have a single point of failure. Taiyang Zhang, CEO of Lambda Protocol, contends, “All it takes is for an ISP/Government to block one website, which defeats a core premise of decentralization.”
Interoperability of Wallets and Browsers
All decentralized apps require a wallet to operate. Solutions such as integrating wallets through add-ons or embedding a wallet into a new browser hinder adoption and accessibility of DApps. Some browsers may not even support these add-ons.
Accessibility Barriers for Consumers
Currently, there are only a few options for interacting and modifying the state of the Ethereum blockchain for non-programmers. This requires the average user to become familiar with the relevant interface protocols and is also only available for desktop, limiting maximum accessibility.
The Lambda protocol is an open-source overlay network, running on top of the Internet, which enables users to access the decentralized applications of the future in the browsers of today. This is achieved by developing a decentralized messaging layer, which has the capability to connect browsers such as Chrome, Firefox, Edge, and Safari to cryptocurrency wallets such as imToken, Ledger Nano S, Jaxx and Trezor.
By enabling users to access DApps from the browser of their choice using a λ-integrated wallet in a trustless manner, ÐApp developers can now open up their applications to the millions of devices, applications and browsers users are already using. Developers of web and mobile applications that want to truly decentralize their applications can also use the underlying Lambda protocol to achieve this.
DApp developers pay DAP(Decentralized Application Particle) tokens to request a user’s wallet to sign a transaction. DAP tokens are the fuel which power the Lambda protocol. Users sign such transactions which are then broadcast to the network. Relayers earn DAP tokens by broadcasting and generating a proof. Lambda protocol employs a staking and rate limiting mechanism for transactions to ensure that developers are only charged for transactions that are executed on-chain.
“Developers utilizing the Lambda Protocol pay DAP tokens to request a user's wallet to sign a transaction. Users sign transactions, which are then broadcast to the network. Relayers (users who facilitate the execution of a transaction) earn DAP tokens by broadcasting and generating a proof,” described Zhang.
The Lambda protocol team invites developers, advocates and partners of decentralized technology to contribute to the Lambda protocol and ecosystem and work together to build an open internet powered by truly unstoppable decentralized applications.
Testnet server is set for launch in Q1 of 2018.
- Taiyang Zhang – CEO
- Loong Wang – CTO
- Noah Ingham – Blockchain Developer
- Susruth Nadimpalli – Blockchain Developer
- Yunshi Sun – Software Developer
- Jaz Gulati – Software Developer