LAOS Blockchain Announced — The Universal Layer-1 for Digital Assets Across All Blockchains
The new interoperable network, currently capable of scaling Ethereum and all EVM chains, is being built by tech startup Freeverse.
Today, Freeverse and the LAOS Foundation jointly announced the development of LAOS, a new universal Layer-1 blockchain designed to address challenges in the realm of digital asset ownership and tokenization. Set against the backdrop of persistent issues such as high gas fees, limited throughput, and congestion peaks in large generalized blockchains, where users and developers must leave the most mature ecosystems, LAOS is positioned to provide a measured solution with enhanced usability and interoperability.
Existing solutions to these challenges often introduce complexities, including multiple bridges, data availability constraints, roll-ups, and fraud-proof techniques, each carrying significant drawbacks regarding usability, performance, and cost.
The demand for tokenization remains robust, evidenced by the creation of over 200 million digital assets in Ethereum and Polygon in 2023. This number is anticipated to surge exponentially in the near future, overwhelming existing infrastructure.
In response to this evolving landscape, LAOS presents an interoperable solution with a notable feature: its bridgeless connectivity capability. This enables users and developers to maintain their presence in their preferred mature ecosystems, such as Ethereum, Polygon, or any EVM-compatible chain. Simultaneously, asset properties are decentralized within the LAOS framework. This approach ensures that users and developers can operate within recognized environments, benefiting from substantial scaling and enabling the creation of new use cases based on utility rather than extreme scarcity. Built as a specialized relay chain within Polkadot, LAOS is designed to eventually handle up to 1 million transactions per second (TPS), maintaining full EVM compatibility and decentralization.
LAOS is ideally positioned to take advantage of the upcoming boom in the tokenization of Real-World Assets (RWA), where LAOS’ dynamic data and consensus can be used to ensure up-to-date and accurate representation of RWA on chain; and also gaming, where millions of assets can be minted, traded in any blockchain, and customized by gamers, ensuring their value is based on utility, not speculation.
Alun Evans, CEO at Freeverse, stated, “Today, we are announcing a vision for an interoperable future for digital assets. Whether it’s for tokenizing real-world assets or creating assets for a game or virtual world, LAOS is positioned to meet the market’s evolving needs.”
While LAOS is scheduled to launch on Polkadot by spring of 2024, a beta version is currently operational in Polkadot’s ‘canary’ environment, Kusama. Users can immediately begin minting assets at marginal cost on Ethereum or Polygon.
About Freeverse
Freeverse is a tech startup committed to advancing blockchain technology with innovative solutions for the digital landscape. Based in Barcelona, Spain Freeverse’s founding team combines decades of experience in technology and startups, brought together by Dr. Toni Mateos, co-creator of the technology behind Dolby Atmos (via Immosound, the startup acquired by the Dolby in 2012). Freeverse’s investors include Earlybird Venture Capital and Target Global, along with notable angels such as international footballer Mario Götze and Travelperk CEO Avi Meir.
About LAOS Foundation
LAOS Foundation is a non-profit organization established in Zug, Switzerland, in August 2023. Its mission is to promote the growth of a decentralized ecosystem and support cutting edge technologies and applications in the field of Digital Ownership, putting LAOS capabilities at work to scale other mature blockchains, and empowering creators and users alike. The LAOS Foundation aims to lead the change towards a future where digital assets reach the mainstream user, are truly alive, evolving, certified on-chain across all blockchains, and legislation compliant.
4 Dec 2023
