LightChain has announced that Leo Chen is joining their research and technical team. Chen currently works as the senior scientist of “Certain BAT” and is also a former Microsoft scientist. He is a well-known computer systems expert who has expertise in areas such as network systems security and management, as well as database storage.
LightChain is the world’s first ever double-tier chain and is dedicated to the development of a new blockchain, beyond those of Bitcoin and Ethereum. Its main aim is to reduce transaction time, bringing it infinitely close to zero. LightChain hopes to prominently improve performance and solve the scalability issues that have become so common in the blockchain space.
Bitcoin transactions can take as long as one to three hours to get confirmed. Both of Ethereum's and Bitcoin’s blockchains get notoriously slow, whenever their networks get unusually busy. Considering the popularity of digital currencies, this happens quite often. Many prominent cryptocurrency exchanges are suffering from scalability issues as well, while their customers remain unsatisfied.
Leo Chen also addressed this situation in a recent statement. He detailed LightChain’s plans to offer improvements to the already deployed Bitcoin and Ethereum blockchains. He said that these blockchains are still in their early stages and thus, need a lot of work. Chen claimed that unlike these blockchains, LightChain's blockchain will not slow down no matter how much its user base grows.
He further stated that solving the problem of double spending of virtual money is their first goal. Not only does LightChain’s efficiency surpass those of its counterparts, but its double-tier chain is also crucial to large-scale applications of the blockchain technology, Leo claimed.
The network is able to process up to 100,000 requests per second, while maintaining its core function as a "Super Book". This means that transaction records can neither be tampered with, nor can they be destroyed. Keeping these factors in view, LightChain can effectively solve all issues arising in the blockchain space. The network is predicted to witness a huge number of applications in the near future.
LightChain’s technical team is currently comprised of over 40 competent engineers and scientists. They have experience in the cryptocurrency space and other relevant fields as well, as many of them have led large-scale data storage and processing systems.
The addition of computer systems expert Leo Chen to this team is hoped to prove beneficial for the network in achieving its goals. Chen began working for Microsoft Asia in 2000 and has been involved in computer systems research and development ever since.
LightChain is the world’s first ever double-tier chain and is dedicated to the development of a new blockchain, beyond those of Bitcoin and Ethereum. Its main aim is to reduce transaction time, bringing it infinitely close to zero. LightChain hopes to prominently improve performance and solve the scalability issues that have become so common in the blockchain space.
Bitcoin transactions can take as long as one to three hours to get confirmed. Both of Ethereum's and Bitcoin’s blockchains get notoriously slow, whenever their networks get unusually busy. Considering the popularity of digital currencies, this happens quite often. Many prominent cryptocurrency exchanges are suffering from scalability issues as well, while their customers remain unsatisfied.
Leo Chen also addressed this situation in a recent statement. He detailed LightChain’s plans to offer improvements to the already deployed Bitcoin and Ethereum blockchains. He said that these blockchains are still in their early stages and thus, need a lot of work. Chen claimed that unlike these blockchains, LightChain's blockchain will not slow down no matter how much its user base grows.
He further stated that solving the problem of double spending of virtual money is their first goal. Not only does LightChain’s efficiency surpass those of its counterparts, but its double-tier chain is also crucial to large-scale applications of the blockchain technology, Leo claimed.
The network is able to process up to 100,000 requests per second, while maintaining its core function as a "Super Book". This means that transaction records can neither be tampered with, nor can they be destroyed. Keeping these factors in view, LightChain can effectively solve all issues arising in the blockchain space. The network is predicted to witness a huge number of applications in the near future.
LightChain’s technical team is currently comprised of over 40 competent engineers and scientists. They have experience in the cryptocurrency space and other relevant fields as well, as many of them have led large-scale data storage and processing systems.
The addition of computer systems expert Leo Chen to this team is hoped to prove beneficial for the network in achieving its goals. Chen began working for Microsoft Asia in 2000 and has been involved in computer systems research and development ever since.