Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

“Instant” Inter-Blockchain Transactions Coming Soon – Thanks to Hash-Rate Boost

SWIFT-like Crypto Protocol Will Benefit From Parent Company’s Newly Expanded Mining Power

Laser, the blockchain startup that connects thousands of existing blockchains to one another, is on course to enable near-instant inter-blockchain transactions – thanks to a boost in hash power and Service Node infrastructure at its parent company.

Global Blockchain Mining Corp (GBMC) is one of the largest publicly listed cryptocurrency mining companies, and the core developer of Laser. GBMC has committed to implement data center resources and compute capacity for the purpose of running service nodes and mining on the Laser Network, which is being hailed as the cryptocurrency equivalent to SWIFT – introduced in 1977 to facilitate cross border payments. Before that, many of the world’s currencies and banking systems operated in isolation.

Laser will connect hundreds of cryptocurrencies by enabling them to effectively speak the same language. It’s set to create a blockchain without borders, helping unlock the potential of every cryptocurrency.

Using an overlay protocol running on top of the Laser Blockchain, transactions can be approved near-instantly by service nodes, as opposed to taking several minutes or hours which is the case now.

Service nodes are the heartbeat of the Laser network, providing its key services and computing functions. So a commitment by GBMC to operate Service Nodes is crucial to the protocol.

For parties interested in operating as a Laser Service Node, a number of Photon tokens – the native cryptocurrency of the Laser network are required. Service nodes risk losing this stake if they attempt to validate an invalid transaction, so there is an incentive to be honest. Global Blockchain Technology (GBT) owns 30% of all Photon tokens. It will use this stake to operate itself as a service node.

Anonymity guaranteed

Service nodes can “pseudo-confirm” transactions based on their observation of factors such as wallet balances. In the absence of negative confirmations, transactions can be deemed valid in just seconds.

Anonymity is also possible by scrambling coins of multiple transactions to prevent ownership of a given coin unit being traced through a public blockchain.

Shidan Gouran is President and CEO of Laser, and mined his first Bitcoin in early 2010. He is also co-founder and president of Global Blockchain Technologies, which is the largest listed private equity firm in the Blockchain sector.

An upcoming Laser crowd sale will entail an equity sale in Laser, with Photons allocated proportionately to equity purchased. A block of 6,300,000 shares will be made available, with a minimum purchase of 100 shares.