With $REDLC as its governance token, Redlight Finance is revolutionizing the EVM-enabled Blockchain world through gas-free solutions.
Introducing Redlight Chain
Redlight Finance, a technology company offering a comprehensive cryptographic technology platform, introduces Redlight Chain, a Layer 1 EVM-compatible blockchain with new functionalities.
Redlight Chain focuses on solving the Blockchain trilemma of scalability, decentralization and security by optimizing Blockchain without gas. $REDLC is the governing currency of the Redlight blockchain, which is solving two major barriers: gas prices and congestion, through innovation, adding new functionality.
About $REDLC and the Gasless Blockchain
Redlight Chain is a layer 1 EVM (Ethereum Virtual Machine) compatible ND Blockchain, which brings revolutionary changes to traditional EVM compatible blockchains. It is also an ecosystem that opens up the world of cryptography to anyone and everyone who wants 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 the problems of traditional Blockchains because most real world industries/companies don’t want to pay gas to perform transactions. The project takes this problem as its main goal, in addition to its mission to develop an EVM-compatible blockchain that aims for scalability, decentralization, and security.
Scalability refers to the blockchain maintaining its transaction/block speed and output as it grows and expands in users/industries. Because of this, $REDLC allows the Blockchain to be integrated into industries that depend on passing or using information from one point to another transaction.
Being a gasless Blockchain will allow us to target industries that would otherwise never have considered Blockchain integration. Also, $REDLC is totally gasless, not 0.000001, not staking a coin to get another token to use as gas, but really gasless as in 0.
The decentralization of $REDLC is achieved by validators (nodes) governing the information on the blockchain rather than a centralized entity controlling it. Most EVM-1 compatible blockchains work this way using various methods, including Proof of Work (POW), Proof of Stake (POS), and Proof of Authority (POA).
$REDLC is classified as a POA, a more advanced form of POS. Instead of needing to stake monetary value, a validator’s “identity” replaces it and serves as the stake.
In addition to security, upgradeability and flexibility are critical factors for any technology to maintain maximum security. $REDLC uses these elements by maintaining a dedicated security team to monitor network and server activity.
Also, $REDLC is introducing the pocket system. The pocket system is a smart queuing mechanism that allows transactions to be split to ease congestion.
The pocket system can automatically recognize network attacks and redirect them to a separate pocket for validation without affecting the rest of the network.
Meet Redlight Finance
Redlight Finance is a technology company that aims to provide a comprehensive crypto platform that acts as a bridge between the real world and the web3 using blockchain technology. They aim to achieve this mission through their fully gas-free Blockchain.
The gasless blockchain they have developed allows users to provide a use case for the traditional cryptocurrency investor by integrating smart contracts.
In addition to this, with no gas fees on transactions, Redlight Finance believes this will allow traditional businesses that require large databases of private information (eg hospitals, financial institutions) to move to web3 securely.