Announces Launch of Layer 1 EVM Compatible Blockchain and Native DeFi Protocols
Cape Coral, FL, Aug. 19, 2022 (GLOBE NEWSWIRE) — In a major step towards decentralized finance, Redlight Chain ($REDLC), the gasless blockchain technology aiming 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, the Gasless Blockchain is also going to launch its own native DeFi protocols including a Decentralized Exchange (DEX), an NFT Marketplace and stable passive income projects.
Began as a cryptocurrency promotional/discussion group on telegram, and soon thereafter branched out into a team project, Redlight Node District, a NaaS/DaaS hybrid node project which helped to fund its own blockchain, Redlight Coin (REDLC), Redlight Chain is on its way to redefine blockchain technology by pioneering passive income with node projects, and changing the digital landscape with a groundbreaking NFT Marketplace.
Gasless Solution to a 3 Pronged Problem
For the longest time, EVM (Ethereum Virtual Machine) compatible blockchains have been trying to tackle scalability, decentralization, and security issues all together. $REDLC aims to eliminate flaws in these areas by utilizing a gasless blockchain to prioritize natural scalability in order to optimize decentralization and security. Being truly gasless, $REDLC enables the blockchain to be integrated into all industries that require transactions. Since parties who are regularly involved in blockchain tend to be reluctant to pay gas fees for every little transaction due to the inevitable accumulation of cost, $REDLC is able to promote more blockchain integration into industries that did not have the intention to begin with.
Bringing Down Barriers and Optimizing Growth
The multi-billion dollar gaming industry is the epitome of a scalable industry, notably in established NFT games. Gas prices, congestion or lack of utility typically contribute to under-utilization of the platform. $REDLC solves the two biggest and most common barriers of gas prices and congestion. This blockchain technology allows for a more accessible avenue to attract a retail audience for any company who utilizes $REDLC as their governance token. Sharing with individuals interested in gaming, the concept of gaming and earning cryptocurrency in return is easy to grasp. Adding more information of unpredictable gas fees in each transaction that may result in a cost to play in the first place, could be a daunting invite to decentralized finance newcomers. As Redlight Finance holds a strong belief of linking crypto and non-crypto worlds, usage of gasless technology removes the confusing barrier to entry which then allows for true growth on both inside and outside of the crypto world.
Usage of Higher Security Processes Explained
Having developed a “Pocket System”, the mechanism allows split transactions to mitigate congestion. The system is designed to recognize network attacks and send them into a separate pocket to be validated, not affecting the rest of the network.
To maintain the highest possible security in any technology, adaptability, upgradability and flexibility are factors that should be at the top of the list. These are the exact strategies $REDLC meticulously applies through a dedicated security team that monitors network and server activity. Redlight Finance chooses to use Proof of Authority to utilize its decentralized nature to refrain from the reliance of one individual entity, but instead spread out any possible risk between all validators. By doing this, it heightens the difficulty to affect the entire network in a targeted attack.
Redlight Finance is on a mission to build the bridge between the real world and Web3 by utilizing the gasless blockchain. This linkage will allow for business with large databases of private information such as hospitals to transition into Web3 with utmost security.
About Redlight Finance
From revolutionizing blockchain technology and its connection with the world, to making a change with a groundbreaking NFT marketplace, Redlight Finance has thought of it all and is making rapid advancements 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 on the official website and whitepaper.
Website | Medium | Twitter | Discord | Whitepaper
