Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Technology

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

Published : , on

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.

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post