Lattice Labs is a Monaco based blockchain laboratory that provides services and tools to enable the new era of Web3 enabled businesses to easily access DeFi, NFTs, DAOs, and the metaverse.
Monte Carlo, Monaco Dec 2, 2022 (Issuewire.com) – The team at Lattice Labs consists of blockchain experts, business owners, engineers, computer scientists, designers, consultants, government officials, and business leaders distributed across four continents. From these minds coming together, the challenge to create a better blockchain has started.”Our goal is to create a blockchain that is faster, stronger, fairer, and safer for everyone” states Bijan Burnard, blockchain and payments expert who is the founder of Lattice Labs and Lattice Network.
Fully Secure. Fully Scalable. Fully Sustainable.
Lattice Network, developed by Lattice Labs, is a highly scalable and eco-friendly Layer 1 blockchain that achieves high throughput and offers compatibility with the Ethereum Virtual Machine and all other major blockchain networks.
The ecosystem was created by design for the benefit and use of the users.
On the one hand, AIDPOV, which stands for AI-powered Delegated Proof-of-Vote and is a consensus mechanism, is used to build Lattice Network. With 7000+ transactions per second and Lattice Network’ AI Delegated Proof-of-Vote consensus method, transaction flow, and processing both take less than a second and can be scaled to thousands of external chain nodes. Unlike Bitcoin and Ethereum, which both take a long time and require multiple confirmations on their respective ledgers before a transaction is confirmed, this method is much faster.
Mining is not required for transactions to be validated and gives protection to the blockchain using the AIDPOV protocol, unlike the Proof-of-Work and Proof-of-Stake protocols. Using the AI Delegated POV concept, a user can appoint a representative who can vote on their behalf using the Proof-of-Vote system even if their account is inaccessible at the time, such as when they are offline. They can handle mistakes and have mathematical proofs that demonstrate their safety and dependability. These accounts are set up on the online nodes that participate in the network transaction voting process.
On the other hand, Lattice Labs has adapted and optimizedthe Block-Lattice technology introduced by the Nano cryptocurrency. With Block-Lattice technology, when a user decides to perform an operation, a send block is added to the account chain. It includes the recipient’s address, the exact amount, and a reference to the previous block. The network is in charge of verifying the transaction’s legitimacy. If everything appears to be in order, the exact amount is deducted from the sender’s balance and added to the recipient’s balance, after which the recipient generates a receive block. User accounts can be updated at different times by using two separate account chains, the transaction ledger, and the asset ledger. This means that the entire network is not required to be engaged in the process.
When using the dual-transaction method, the accounts involved in the transaction, such as the sender and receiver, are responsible for verifying it. When you select this option, you no longer require miners and can conduct transactions immediately without incurring any fees. The network’s scalability and adaptability improve as a result. Lattice Network creates a lighter network by utilizing not only “account chains,” which aid in reducing the scalability issues that blockchain-based solutions frequently encounter, but also its consensus mechanism, AIDPOV, which creates a flawless network. Furthermore, a lighter network implies that a blockchain using Proof-of-Vote is unquestionably more environmentally friendly because it reduces the amount of power required for computing.
Source :Lattice Labs
This article was originally published by IssueWire. Read the original article here.
COMTEX_420065579/2777/2022-12-02T06:59:02
