WHAT IS LYRA?
Lyra is a technologically advanced crypto token issuance blockchain and processing platform, which allows merchants, governments, and individuals to create custom tokens that can be accepted by others in a closed-loop environments, or at the point of sale together with cryptocurrencies and fiat methods of payment.
MAIN FEATURES
Lyra was designed and developed from scratch using the latest techniques in blockchain design to solve the speed, size, and throughput (TPS) limitations.
DAG-style chain collection / blocklist architecture
Eliminates the need for large size blockchains. The blockchain is distributed among clients (hence the name “blocklist”).
Super Light
Clients / WalletsThanks to blocklist architecture, the client doesn’t need to keep a copy of the entire blockchain – just their own blocks (in many cases only very last block), making it possible to have a wallet implementation that doesn’t require cloud or web wallets, permanent connectivity or massive local storage. As an example of wallet’s efficientcy, we have successfully implemented the complete stand-alone wallet on Raspberry Pi.
Fungible and Non-fungible Tokens
The tokens can be both indistinguishable and unique (personalized). In fact, there are uses for both inside most applications, with transition from fungible to non-fungible at the time of redemption. Example: fungible reward tokens (as accumulated loyalty points) and non-fungible discount/gift tokens (as loyalty reward redemption mechanism).
Pre-programmed Smart Contracts
No Programming Needed – creation of new token takes just a few moments. Each token type is pre-programmed for particular use case. User just enters simple configuration parameters.
Instant Transactions
It always takes less than a few seconds to process a transaction with Lyra, making it compatible with point-of-sale environment where guaranteed speed of transaction is a requirement.
Built-in Instant Token Exchange Capability
Atomic swap based token exchanges are built in, allowing for instant token exchanges, which is critical for various situations such as redemptions and and loyalty program partnerships.
Compatible with Point of Sale
Lyra Tokens Blockchain leverages point of sale integration from GRAFT.Network payment platform project and facilitates paying with tokens at the point of sale via certified integration with payment terminals (Verifone, Ingenico, others)
Flexible Transaction Fee Structure
Most blockchains have built-in hardcoded fee mechanism with a sender paying the fees. Lyra has a flexible mechanism when the fee can be paid by the sender, the recipient, or both sides, depending on the transaction type and other configuration parameters. This flexibility enables implementing various use cases that would be impossible with traditional fee structure.
Permissionless or Permissioned
Lyra blocklist can run in various configurations – permissionless or permissioned, decentralized or centralized, public or proprietary – depending on the use case. Contact the team if you are interested in running a proprietary Lyra network
Web:
https://lyra.liveTelegram:
https://t.me/joinchat/EneBwxctKJEjyFXxmjw0tQTwitter:
https://www.lyra.live/wp-content/uploads/2019/09/tw.png
