Lambda builds DeFi and cross-chain adoptions
The blockchain industry has been developed with over a decade, the price of Bitcoin had reached to new height point each time, which all represents the extreme prosperity at that time. From 2009 to 2013, various BTC-like mining cryptocurrencies has constantly launched, and various encrypted digital currency technologies has been verified and used on a certain scale. Many professional cryptocurrency exchange websites have appeared, and the changes in policies in various countries have greatly exposed cryptocurrencies, which lead to digital assets such as Bitcoin into public, and prices have entered a new historical height.
In 2013, the Ethereum white paper was launched. Ethereum was officially launched in 2015 under many doubts. The introduction of smart contracts has brought unlimited imagination to the blockchain industry. It also brought about Initial Coin Offering（ICO) into upsurge period in 2017, and the price of cryptocurrencies has reached the highest point in history. After ICO bubbles has brought people different thinking about the issuance of digital assets. The blockchain technologies has received more industry attention and investment.
Since 2018, various and distinct blockchain-based businesses have blossomed. All business relies on Ethereum, which many people opinions about blockchain technology is far from reaching commercial level. In 2018–2019, many public chains challenges Ethereum, and capital has also given opportunities for expand development of the industry. The amount of financing raising frequently hits new high point. At this time, the division of labor and cooperation in blockchain technology, computing, storage, expansion, transactions, privacy, and cross-chain and so on. These technologies has leap froging the development, and the future of blockchain technology is worth looking forward to it.
DeFi is hot trend in 2020, and the recent trend has been receded. DeFi can be traced back to 2018. Since decentralized transactions based on various technologies and business principles had become matured in the past two years. The market has continued grow, which promote the popularity of DeFi in 2020. Essentially, decentralized transactions are the fuse of this round of DeFi. The transaction itself provides oracle services, liquidity services, and asset synthesis, which resulting in provides aggregation services, financial management platforms, etc. Therefore, the oracle service is more future-oriented and promising.In addition to industry scenario, we pay more attention to the logic of how to connect the blockchain with traditional industries in the future.
We can see from a group of data that DeFi is overheating. Decentralized transactions accounts for less than 1% of the total transaction volume. It also only have crypto related transactions. Such a scale of trading is difficult to support the huge market capitalize of DeFi. It will inevitably lead to the bursting of bubbles this round. Yes, DeFi will not disappear. Blockchain drives low-friction transactions which currently proven to be successful. Transactions do not only refer to cryptocurrencies transactions, so with increasing transaction shares on various blockchains, DeFi will gain further development, and DeFi will inevitably move from the currently mining model to transactions with actual business scenarios.
The storage zone has been explored for a long time. From the early stages of mining coins, SIA (SC), Burst and other variants are representative; Storj in the Ethereum era, and subsequent application exploration Arweave, etc., truly constitute the storage zone with projects of Filecoin, Lambda, etc. will introduce actual data storage proofs into consensus.
The native business in the storage public chain is more complex, including storage miners, retrieval miners, storage verifiers, storage transactions, storage orders, storage declarations, storage data compensation, storage users, token holders, storage market makers, and data restoration miners , Valid data verifier (data oracle), etc. The native business in the storage public chain can form a comprehensive economy ecosystem. By storing a large amount of off-chain data to enter the blockchain industry, we have been looking for how the blockchain can be connected with the traditional business. However, the storage public chain is an open solution.
At present, the total lock-up volume in the Defi ecosystem is approximately tens billions of dollars, and the borrowing and transaction volume is at the level of 1 billion dollars. The bubbles generated by the mining behavior from the capital pool. What are actual scenario of DeFi in the storage ecosystem? Let’s take a most intuitive example, all public chains basically do not have the concept of compensation fees. A miner in PoW mining coins has quit which has no impact for the consensus network. In PoS\DPoS network a validator or voting users quit which has no impact on the network. But, there have penalty wait for them.
However, there are some vital roles in the storage network, such as storage miners, verification miners, retrieval miners and storage market makers. All roles are directly participants in the storage business. Storage miners cannot arbitrarily quit from the network, because they have signed a storage agreement with users. Storage miners need to follow the contract, that is the biggest difference between storage mining and other public chain‘s mining. The concept of compensation fees is required to protect user‘s data or user’s business integrity, that is, storage miners or retrieval miners need long-term operation and maintenance to ensure their SLA, for achieving high quality of commercial-level service delivery.
In the storage ecosystem such as Filecoin and Lambda, payment will deliver hundreds millions dollars in lending demand, which is almost similar with the scale of DeFi lending.Existing currency-holding investors and data center miner investors each complete their core responsibilities to form a basic storage ecosystem.Take Filecoin as an example, the pre-staking (Seal statement), order compensation fees. It is same economic logic for Lambda. So, there will be a huge market.
Not only Fil, LAMB holders can participate in this ecosystem, even ETH holders can also join the storage ecosystem to participate in mining. We aim to based on the cross-chain capabilities of Cosmos. Other scenarios such as data transaction, data verification, traffic oracle, data retrieval, and storage consumption all have real business scenarios by financial requirements on-chain.
Currently, Lambda has data storage capabilities. Storage mining has been activated in 2 months, various indicators are relatively stable. Lambda next important task is to provide storage-related businesses supporting, such as basic component support, storage standards and tools support, financial support, cross-chain demand support, etc. We are trying to partnership with other ecologies, so that decentralized storage can provide services to blockchain ecosystem and integrate with traditional industries. Decentralized storage businesses will expand in the future. Decentralized storage can be the communication bridge between the blockchain and the off-chain world, we firmly believe that the blockchain can change the future transaction model and data. It is the cornerstone of the future economy. The decentralized storage public chain will inevitably become an important track in the blockchain.
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Mainnet explorer： https://explorer.lambdastorage.com/#/
Lambda mainnet 0.3.3 version：http://download.lambdastorage.com/lambda/0.3.3/lambda-0.3.3-release.tar.gz