Cape Coral, FL, Aug. 19, 2022 (GLOBE NEWSWIRE) — In a major step toward decentralized finance, Redlight chain ($REDLC), the gasless blockchain technology that aims to provide a bridge between the real world and web3, announces the launch of its Layer 1 EVM Compatible Blockchain on August 20, 2022. Moreover, Gasless Blockchain will also launch its own native DeFi- protocols including a decentralized exchange (DEX), an NFT Marketplace and stable passive income projects.
Started as a cryptocurrency campaign/discussion group on Telegram, and soon branched out into a team project, Redlight Node District, a NaaS/DaaS hybrid node project that helped fund its own blockchain, Redlight Coin (REDLC), Redlight Chain is on . its way of redefining blockchain technology by pioneering passive income with node projects, and changing the digital landscape with a pioneering NFT Marketplace.
Gas-free solution to a three-part problem
For the longest time, EVM (Ethereum Virtual Machine) compatible blockchains have tried to tackle scalability, decentralization and security issues together. $REDLC aims to eliminate errors in these areas by using a gasless blockchain to prioritize natural scalability to optimize decentralization and security. By being truly gas-free, $REDLC enables the blockchain to be integrated into any industry that requires transactions. Since parties regularly involved in blockchain tend to be reluctant to pay gas fees for each small transaction due to the inevitable accumulation of costs, $REDLC is able to promote more blockchain integration in industries that had no intentions to begin with.
Remove barriers and optimize growth
The multi-billion dollar gaming industry is the epitome of a scalable industry, especially in established NFT games. Gas prices, congestion or lack of utility typically contribute to underutilization of the platform. $REDLC solves the two biggest and most common barriers to gas prices and congestion. This blockchain technology allows for a more accessible path to attract a retail audience for any company that uses $REDLC as its governance token. By sharing with individuals who are interested in gaming, the concept of gaming and earning cryptocurrency in return is easy to understand. Adding more information about unpredictable gas fees to each transaction that could result in a cost to play in the first place can be a daunting invitation to decentralized finance newcomers. As Redlight Finance strongly believes in connecting crypto and non-crypto worlds, using gas-free technology removes the confusing entry barrier which then opens up real growth both inside and outside of the crypto world.
Use of higher security processes explained
Having developed a “pocket system”, the mechanism allows shared transactions to reduce congestion. The system is designed to recognize network attacks and send them into a separate pocket to be validated, without affecting the rest of the network.
To maintain the highest possible security in any technology, adaptability, upgradeability and flexibility are factors that should be at the top of the list. These are the exact strategies $REDLC carefully employs through a dedicated security team that monitors network and server activity. Redlight Finance chooses to use Proof of Authority to leverage its decentralized nature to refrain from relying on a single entity, but instead spread any risk between all validators. Doing so increases the difficulty of affecting the entire network in a targeted attack.
Redlight Finance is on a mission to build the bridge between the real world and Web3 using the gasless blockchain. This link will enable businesses with large databases of private information such as hospitals to transition to Web3 with the greatest security.
About Redlight Finance
From revolutionizing blockchain technology and its connection with the world, to making a change with a pioneering NFT marketplace, Redlight Finance has thought of it all and is making rapid progress towards it.
Check out $REDLC on Coinstore.com soon and be a part of this redefining journey.
Further details about the project can be found at official website and white paper.
Website | Medium | Twitter | Disagreement | White paper
Disclaimer:
The information in this publication is not investment advice, financial advice or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor) before investing or trading in securities and cryptocurrency.
