SINGAPORE, 30 December 2022 /PRNewswire/ — 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 integrate 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 provides 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 gasless technology removes the confusing barrier to entry which then opens up real growth both in and out 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. By doing this, it 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 move to Web3 with the greatest security. Users can also expect Redlight Finance to launch a gas-free Layer 1 Blockchain, DEX and NFT marketplace.
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.
About Coinstore
Founded in 2020 by well-experienced Fintech professionals from some of the most well-known crypto exchanges, Coinstore.com has gathered over 180 employees worldwide, serving more than 1.8 million registered users in 175 countries. As a leading global provider of financial infrastructure and technology in the crypto-economy, Coinstore.com aims to become the preferred cryptocurrency trading platform and digital service provider worldwide.
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