LightChain price is $0.00000119
The current price of LightChain (LIGHT) is $ 0.00000119, which has increased by +0.00% in the last 24 hours.
LightChain is a novel blockchain project that is known for championing the concept of a double-layer chain. This unique technology aims to realize millions of transactions per second (TPS), a feat that significantly enhances the transaction capabilities of blockchain systems. LightChain aims to resolve the key deficiency of existing blockchain technologies: slow transaction speed.
The information about who specifically created LightChain is not clearly stated on their official site. However, it is known that the concept and development of LightChain are the results of a group of blockchain enthusiasts and developers who spotted an opportunity to improve the blockchain's transaction speed.
LightChain aims to resolve the issues of block congestion in Bitcoin's network by employing a two-layer technology, which includes one PrimeChain and one or more LightChains. The PrimeChain, akin to Bitcoin's blockchain, confirms transaction authenticity and maintains ledger records, while the LightChains are responsible for transaction processing and validation. With this double-layer architecture, LightChain ensures transaction speed does not become a bottleneck in its operation.
What sets LightChain apart is its double-layer architecture. The first layer, known as the PrimeChain, gives a nod to Bitcoin's original blockchain model, confirming transaction genuineness and maintaining the records. This leaves the processing of transactions to the number of LightChains. The architecture theoretically allows the processing of millions of transactions per second. Also, the parent-child linkage between PrimeChain and LightChain ensures that child chains inherit the robust security and decentralization of the PrimeChain.
As per recent data, LightChain's market cap rank is #1, with a market capitalisation of $ . The 24-hour trading volume of LightChain stands at . The circulating supply of LightChain is , out of the total supply of 210.0B.
LightChain (LIGHT) can be purchased on several cryptocurrency exchanges; however, the specific exchanges where it is currently available are Idax, OKEx. To acquire LightChain, it is either directly purchased with fiat currencies or traded for other cryptocurrencies. Ensure you use a reliable cryptocurrency exchange that provides a seamless and secure transaction process.
Keeping your LightChain safe is similar to securing other digital assets. Ensure to store your LIGHT in a secure and encrypted wallet. Also, enable two-factor authentication on all accounts related to your LIGHT holdings. As a rule of thumb, avoid sharing your private keys with anyone and ensure your device security is up-to-date. It's always recommended to use a hardware wallet for the best security.
The future of LightChain largely depends on its adoption and the success of its unique double-layer blockchain technology. The team behind LightChain is continuously working on enhancing its transaction speed capabilities, which, if successful, could potentially redefine transaction processing in future blockchain networks. However, like any other digital assets, the future of LightChain is uncertain and depends on various internal and external factors.
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