Trust 2.0 — How Laser is Setting a new Honesty Standard
Trust is something we don’t spend a lot of time thinking about…
Until that trust is broken.
Trust is also something we seem to calculate…
Without ever knowing the equation in our mind.
And trust is one of the powerful features of the blockchain…
Even if those new to crypto are unaware of it.
Satoshi Nakomoto understood this, writing…
“The root problem with conventional currency is all the trust required to make it work.”
Here, he highlighted the fact that people using a fiat currency must trust a central authority to do several things.
For example — transacting it, storing it, and not minting/printing so much that it devalues the currency itself.
So, when he created Bitcoin, the computer code was programmed to be trusted to mint a specific number of Bitcoins…
21 million to be exact.
Trust and Ledgers
But there’s more to Bitcoin’s trust than that.
He also set up a new type of trust… one never before seen in human history.
A new way to keep track of transactions on a ledger… but without a central authority.
This trusted computer code — Bitcoin’s consensus protocol — allows the Bitcoin network to enter debits and credits, as people all over the globe send and receive Bitcoin.
This code creates an immutable record of transactions. That way, there is only one “truth” that can’t be changed.
Why is this important?
Again, for the first time in history, people are trusting computer code…
Running on a worldwide network of computers…
Over their fellow humans.
So, for example…
There’s no need for a double-entry bookkeeper as was used merchants and bankers of Venice, Genoa and Florence…
Or there’s no need for the banking system we use today.
In fact, Jeffrey Sprecher, the chief executive of the New York Stock Exchange calls crypto a trend that can’t be ignored because…
People put more faith in a guy named Satoshi Nakomoto — a man no one has ever met — than they do in the US Fed. People are more comfortable in technology than the institutions of government and society that I grew up with.
No one knows where this will lead us.
But one thing is certain…
There’s a new trusted authority that millions of people around the world are moving towards…
Computer code.
And it’s in part, because of the lack of trust of human authorities who have failed them.
Trust and Laser
Laser’s goal is be THE blockchain for trusted transactions for ALL supported cryptocurrencies…
Laser’s code creates an immutable record of transactions…
One “truth” that can’t be changed…
But it’s different than Bitcoin’s blockchain or any other blockchain.
Laser is a “service” layer that allows cross-chain transactions.
What that means is that it allows many different cryptocurrencies to communicate with each other. For example, you can send Bitcoin to an Ethereum address.
In short, it adds a new layer of trust.
Cross-chain trust.
You can think of it like the SWIFT system (which allows people to exchange regular currencies like the US Dollar, the Euro, the yen, the Pound and more).
So, Laser provides secure, anonymous, and near-instant transfers between any two supported cryptocurrencies.
And, by owning Laser tokens and staking them on our network, you can be part of this financial revolution.
To learn more, you can view our recent article that outlines the servicenode incentives and payout rates.
After that, be sure to read our whitepaper for a more in-depth discussion.
And then, be sure to follow the Laser Twitter account to keep up with the latest news.
