Bitcoin Forum

After discussion with my friends, this is our project summary:

Light Chain (LIGHT) is designed to be the world’s first double-layer chain. The LIGHT network is composed of one prime-chain and numerous sub-chains. The prime-chain works like bitcoin to provide an immutable and transparent super-ledger while sub-chains provide a fast network (performance level of 100k query per second) under the prime chain, it syncs up with the prime-chain on a regular basis. and is suitable for all applications including high-frequency transaction.

By solving the scalability and performance problem of decentralized networks (e.g. Bitcoin and Ethereum), LIGHT’s double-layer structure can be utilized to all applications in mankind.

The Light Coin:
In LIGHT’s ecosystem, we preset a constant number of Light Coins. Similar to the bitcoin and Ethereum systems, miners are rewarded by Light Coin through PoW on the prime-chain;

- Gas is burned every time the sub-chain syncs up with the main-chain. The gas is rewarded to miners;
- A certain number of Light Coins must be pledged when a sub-chain is created. The pledged Light Coins can be used as Gas in the sub-chain, and the number of LIGHT Coins pledged grows over time

Today is the day of whole lot of interesting new projects it seems. Looking forward to look into the whitepaper, roadmap etc. Also looking forward for airdrops and bounties.

Hello,

So how decentralized are sub-chains? When you say in memory databases you mean SQL servers? In that case what happens if those servers are taken down?

Reserved

Rip off of Bitcoin Lightning network. Happens to be sold out on the day of the announcement. Just another erc20 garbage token. Thanks a lot, Vitalik.

This is just a marketing stunt that mode ME fell over the edge of my Seat . Obviously ICO was over with 100% token sold. And it makes ME wonder is it a private sale that occured?

My team was being approached by this ICO. Their ICO was so popular that even before any marketing is needed, they already have sold out their ICO. However, they still want to spread their ICO information to more people and hence this thread is aim at providing information, and not marketing for ICO purposes.


There will be an amazing airdrops coming soon. Stay tune.


Very good question. Let me ask the dev team and get back to you with the answer.



Personally, after reading the whitepaper and discussing with my friends, I would not classify this as garbage. In fact, I am even interested to invest. Do check it out more.



Yes it is. Before the team can do any much marketing, it has been spread widely by word of mouth. Personally, as I discuss with my friends, I am also became very interested in this ICO but too bad it is already fully sold.

I will try to publish whatever i understand so that you all can also understand what I see in this project.

How many confirmed transactions per second?

hi dev. how to check my  referral ?? .. group telegram not reply support member

There's a delay in your BOT response but I successfully registered. Hope we could benefit from it.. looking forward in your great dev.

I could not get the BOT to respond. How long was the delay?

The airdrop/bounty program has ended as the number of people has reached the limit of the bounty. It was stopped at 12midnight GMT+8.


On paper it is 100,000 Query/sec.

Very interesting, So a bit of marketing among cryptocurrency forums, (any idea when it may hit a few exchanges)

How did this ICO happen to complete 50,000 eth, with only 2 days of announcement in bitcointalk, no campaign, not even an ICO schedule?  ??? ??? ???

What's the address of the smart contract used for the ICO?

Are you dev or Participant ICO?

I am also waiting for the official news. Do consider to join our telegram to have the latest news. I am also keeping track of the telegram to see when it hits on the exchange and buy from there.


When we received the project, the hardcap is already reached. There are a lot of interest in this project until they have been fully sold out without any marketing needed. However, moving forward, they are now doing marketing is more for exposure and not for fund rising.


It is not an erc token. it has its own mainnet. It produces gas which is needed to run the dapps. That is also why the dapps need the tokens to be pledged.


I am part of the service provider for LightChain. However, after doing my due diligence on the company, I am also interested in getting the tokens. However, ICO is already sold out before that. We are able to reach out to the dev.

Thanks for the reply. So basically it was a private sale to VC's or whales? How much bonuses did they get in the private sale? What rate/price did they get it?
If there are ICO plans for the public, what will be the rate?

At this point of time, there should not be any ICO plans for the public. I also hope to that they have an ICO for us as I would like to get some of the tokens. The potential is there. Do join our telegram for the latest news.

You can find more specific details about the Lightchain Project through these links

Website: http://www.lightchain.one/
Whitepaper: http://s.iappease.com.cn/pdf/LIGHT_wp_v1.01_en.pdf
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=2729551.0

Project Summary:
Light Chain (LIGHT) is designed to be the world’s first double-layer chain. The LIGHT network is composed of one prime-chain and numerous sub-chains. The prime-chain works like bitcoin to provide an immutable and transparent super-ledger while sub-chains provide a fast network (performance level of 100k query per second) under the prime chain, it syncs up with the prime-chain on a regular basis. and is suitable for all applications including high-frequency transaction.

By solving the scalability and performance problem of decentralized networks (e.g. Bitcoin and Ethereum), LIGHT’s double-layer structure can be utilized to all applications in mankind.

The Light Coin:
In LIGHT’s ecosystem, we preset a constant number of Light Coins. Similar to the bitcoin and Ethereum systems, miners are rewarded by Light Coin through PoW on the prime-chain;

- Gas is burned every time the sub-chain syncs up with the main-chain. The gas is rewarded to miners;
- A certain number of Light Coins must be pledged when a sub-chain is created. The pledged Light Coins can be used as Gas in the sub-chain, and the number of LIGHT Coins pledged grows over time

The total amount of Light Coins is 210 billion and is allocated as below:
- Cornerstone Placement: 30%
- Private Placement: 20%
- LIGHT ecosystem incentive: 40%
- Team: 10%

A big Thank You!
The Lightchain team would like to thank the community for your support!

dv is there his Bounty link.

Where and when will we be able to see the source code for lightchain?

???? So far Lightchain only has telegram + referral airdrop. There isnt any signature campaign or bounty.


You can seek request in the telegram and the admin will be there to help you answer this question.

This is sounds interesting, but I've still doesn't understand what is the real benefit of having double layer block chain?
Does this means faster transaction time or a safer transaction?

ICO missed, why post this here so late ?  :(

hi dev. how to check my  referral ?? Group telegram not reply support member  ::)

Are you dev or Participant ico..?

How did this ico happen to complete 50000 eth, with only 2 days of announcement in bitcointalk, no campaign, not even an ico schedule?  ::)

Double layer blockchain has a lot of benefits. One simple reason is that eth and bitcoin is also trying to improve its infrastructures by adding on a side chain. Other dapps are also developing their own version of offchain etc. So Lightchain start off with double layer structure straight off the base foundation and thus is able to have tremendous achievements right at the start.


The dev dont even have done much marketing and they are already oversubscribed.


Do wait for the bot to be updated. By then you are able to check your referral. Cheers.


Not a dev. I am a service provider to help them to post this thread and man it for a period of time. But after understanding the product, I am interested to have some but it was already sold out.


They are even sold out before I can announced. There isnt a chance for the ico to go for crowdsale as everything is sold before that.

This project looks mega fishy, from ICO to the team members. "Microsoft experience" tag from team page makes you think that she worked in Microsoft for 12 years but nah, when you check team members on linkedin for example it's a mediocre team, nothing special.

Also, they are not going to offer anything new, I don't see a point of this 10001 altcoin.

OKEX launches LIGHT(LightChain) on January 19. Here is the specific time:

1. On Jan.19 15:00, LIGHT can be deposited.
2. On Jan.19 19:00, LIGHT can be traded.
3. On Jan.19 18:00, LIGHT can be withdrawn.

"LightChain adopts the world’s first double-layer chain architecture." Nobody wants to be the guinea pig for a centralized Chinese-owned watered-down knockoff of Lightning Network.

Hello,

I've been trying to do research on the team and their background and I'm coming up short. Not immediately finding this information is a bit worrisome. Can you provide more background on the team?

I´m a bit bored resp. have no real input from chart analyses for trading. As my last purchase on this Okex exchange (it was INT) went quite well, I spent a few coins and purchased LIGHT. No loss that would hurt me, if it turns out to be a scam. As other fellows, I´m skeptical due to the lack of a real promising team (or information about such one) behind it.

Which wallet do you use?
As it´s not an ERC 20 token but comes with its own chain, I need to get a wallet to store it. I could not find anything, someone has an idea?

This is indeed a very interesting project and is under the radar.

This is a scam coin. Listed team members are stolen or fake. DYOR.

Do read and research more into the project. It is nothing to do with lightning network.

There are a lot of China based ICO that has shown to be extremely successful.


The wallet is still underdeveloped. Do wait for more news/updates by the dev team on a downloadable wallet.


Great to have people doing their own due diligence. We have feedback from the telegram community too about one of the team members. A few things we have checked :
- Currently, the team dont have linkedin.
- The team claimed that the Franklin Weldon mentioned in the telegram group/twitter is a different personnel.

We will do more cross checking with the LightChain team whenever there are more queries by the public. It is not an easy task due to the limitation of the communication channels between China and outside world but we are happy to service the bridge/gaps.

Thx for trying to bring a bit more light into this. Scary or unclear information on the people behind it. Did they really sell their coins resp. really collect some money or are they just now cashing out as long as they can? Locked in my profits and sold, watching from the sideline (or just forget it as there are so many new ICOs coming up, its massive)

Inititally, i am sold by the great idea but as more things unfolded by the communities, i have hold on to my reserve. And i did try to reach out to the dev, and they are quite responsive. I also have look at their github and they are quite active. But why do they want to hide their face.

So was I. But given the lack of background information available on the team leaders, if not to say "shady looking" available information, I´m out. Could maybe be a cultural thing as well if these Asian guys just don´t care about the same things we Western people look at (such as LinkedIn etc). But I don´t have FOMO then - women and opportunities are like buses. If you miss one, the next one will arrive soon. Just stay flexible and look around.

Well, for china projects, they dont really have any culture to have LinkedIn or telegram profile etc.

However, i really wish they can put in more effort to address some of the fud that the telegram members have been addressing.

is there a difference between query/sec and transactions/sec? or query and transaction is the same thing but different wording?

They are different. Lightchain is based on the handling the queries and not about supporting/proving the transaction of the blockchain.

i see there is a good price movements on Lightchain, depends on coinmarketcap
https://i.imgur.com/oNcmfom.png
and the volume is good enough too
but the questions is, does this project still alive ? because this thread is so quiet
thanks

Seems that they are still active in trading but the overall picture of their trading chart is bit scary to invest -

https://i.postimg.cc/GhtmRC7D/Screen-Shot-2019-09-07-at-6-36-13-AM.png (https://postimages.org/)

A miracle is needed to change their course and I don't think it will happen anytime soon for this project.