China-based Company Aims to Disrupt Decentralized Storage System

BEIJING, CHINA / ACCESSWIRE / September 30, 2019 / China-based blockchain company, Lambda, has finally unveiled its blockchain network to a group of supporters and blockchain enthusiasts in Beijing, China earlier this month. The pre-launch event at Dayuan Hotel on Sept. 3 was attended by Lambda's core development team, validators and miners.

Lambda is a safe, reliable and scalable decentralized storage network. The blockchain network enables the decentralized storage of data, integrity and security verification, and the operation of market-oriented storage transactions based on the Lambda Chain Consensus Network.

During the Lambda Node Consensus Summit, the company revealed its mainnet that will be the core of its global ecosystem. With this new technology, Lambda hopes to promote the decentralization of the Internet while supporting the growing demand for storage infrastructures online through an infinitely scalable network.

Blockchain has been on a growth tear since its entry to mainstream business and technology industries over a decade ago. Different services have since taken advantage of this technology to provide solutions to every day problems, one of which is decentralized storage. This is the driving force for the Lambda project – to provide an adaptable solution to unsecured online storage issues.

"Lambda's vision is to create a secure, reliable, and unlimited expansion of decentralized storage networks with value attributes," Lambda founder and CEO, Xiaoyang He said at the summit.

"The Lambda team will make efforts to promote the development of the entire cryptocurrency industry while allowing users to have one more option in the blockchain infrastructure."

Lambda's aim is to create a storage infrastructure for the next generation of the Internet, while making sure the service is secure and beneficial to its community – users, miners and validators.

The Lambda ecosystem implements a dual-token model (LAMB and TBB) that aims to protect the benefits of the miners and to allow the market to determine the value of storage assets. LAMB is the circulation token used for transactions and block production rewards, while TBB is the storage space asset token.

At the summit, the team also discussed the growth path of the system now that the mainnet has been unveiled. The creation of the node and the consensus network have already started, while the storage network will be launched on October 2019. From November to December, the development team will work on ERC-20 mapping and finally activate the main network before the end of the year.

The project currently has 59 validators, 30 partner nodes, 10,000 miners, 23 investors and 11 partners. There are 40 exchanges and five projects based on the system.

"Lambda is a big ship and we are the craftsmen who built this ship. But all validators and miners are the helmsmen. Thanks to all your help, together can go further despite the strong wind and waves," Lambda COO Haiqiang Gao shared.

The Lambda may still be in its development stages, but with the launch of its mainnet, the company in making huge strides towards its goal of a highly reliable and highly secure high performing decentralized storage network for the new wave Internet.

To learn more about Lambda, its services and blockchain main network, visit lambdastorage.com.

Contact: patti.lin@lambda.in

SOURCE: Lambda

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