Redlight Finance, a technology company that provides a full crypto technology platform, is introducing Redlight Chain, a Layer 1 EVM compatible blockchain with new functionalities.
Redlight Chain is centered on solving the blockchain trilemma of scalability, decentralization, and security by optimizing the gasless blockchain. $REDLC is the governance coin for the Redlight blockchain, which is solving two significant barriers: gas prices and congestion, through innovation, adding new functionalities.
About $REDLC and the gasless blockchain
Redlight Chain is a Layer 1 EVM (Ethereum Virtual Machine) compatible Blockchain ND, introducing revolutionary changes to the traditional EVM compatible blockchains. It is also an ecosystem that opens the world of crypto to anyone and everyone wanting to find a secure, decentralized, and scalable solution to their problem.
The platform also showcases the proper abilities and benefits of Smart Contracts and NFTs.
$REDLC wants to solve traditional Blockchains’ problems because most real-world industries/companies do not want to pay gas to perform transactions. The project takes this issue as its primary purpose, in addition to its mission to develop a blockchain-compatible EVM that targets scalability, decentralization, and security.
Scalability refers to the Blockchain maintaining its transaction/block speeds & output while growing and expanding in users/industries. For this, $REDLC allows the Blockchain to be integrated into industries that rely on passing or using information from one point to another transaction.
Being a gasless Blockchain will enable us to target industries that may otherwise never have given Blockchain Integration a second thought. Also, $REDLC is fully gasless, not 0.000001, not staking a coin to get another token to use for gas, but truly gasless as in 0.
Decentralization on $REDLC is achieved through validators (nodes) governing the information on the Blockchain rather than a centralized entity controlling it. Most EVM-1 compatible Blockchains operate in this manner using various methods such as Proof of Work (POW), Proof of Stake (POS), and Proof of Authority (POA).
$REDLC is categorized as POA, a more advanced form of POS. Instead of needing to stake monetary value, the “identity” of a validator replaces this and serves as a stake.
Besides security – upgradability and flexibility are critical factors for any technology to maintain maximum security. $REDLC employs these elements by keeping a dedicated security team on hand to monitor network and server activity.
Moreover, $REDLC is introducing the Pocket System. The Pocket System is an intelligent queuing mechanism that allows the split of transactions to alleviate congestion.
The Pocket System can automatically recognize network attacks and reroute them to a separate pocket to be validated without affecting the rest of the network.
Meet Redlight Finance
Redlight Finance is a technology company aiming to provide a full crypto platform that acts as a bridge between the real world and web3 through blockchain technology. They aim to achieve this mission via their fully gasless blockchain.
The gasless blockchain they have developed allows users to provide a use case for the traditional cryptocurrency investor by integrating smart contracts.
On top of this, with no gas fee on transactions, Redlight Finance believes this will allow traditional businesses that require large databases of private information (e.g., hospitals, financial institutions) to transition into web3 securely.