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What Is Lambda?

Apr 26, 2023
5 min read

This blog post will cover:

  • What is Lambda (LAMB)?
  • Where did Lambda (LAMB) come from?
  • What are the advantages of Lambda (LAMB)?
  • What are the disadvantages of Lambda (LAMB)?
  • How to exchange crypto on SimpleSwap?

What is Lambda (LAMB)?

Lambda is a safe, fast, and scalable blockchain project. It has the option to process several million transactions per second and provide storage capabilities. It’s all thanks to the use of Sharding technology. Unbounded scalability is provided by DAPP through disseminated cloud databases. Lambda consists of the following elements:

  1. Lambda Chain, a congeneric multi-chain system that offers intellectual Turing contracts and a high level of TPS access;
  2. Lambda P2P, a P2P network system, provides resolution at the network level;
  3. Lambda DB, a cluster system in which there are several databases, makes it feasible to store encoded data with unbounded scalability;
  4. The support system has a structure in the lower layer of Lambda DB, including Lambda FS - data storage system and distributed file system;
  5. Lambda ABE, an encoded access system for identification based on properties that include several junctions, for the database is a kind of access control port;
  6. TPA Lambda chain (WorkChain3), the foundation of data unity verification, including many validation keys;
  7. Lambda Agent, a self-configuring converter system that controls a LAMB history of data in memory, inspection performance, examination data loading, and safety.

Lambda is different from other blockchains, the main difference is that Lambda is the storage infrastructure of blockchains. The goal of such an ecosystem is to develop DAPP and participants of the project, site participants accommodation, participants in the chain node (fisherman, certifier and subject dispatcher), and other participants.Lambda gives settlement, storage, operation of the transaction, and other services. This means that the creators of computational tasks and also tasks for sending storage data, resource providers, data analysts, software designers play a big role in the functioning of the Lambda ecosystem.The project runs on a completely individual and previously unused open-source protocol Proof-of-Space-Time (PoST). Classic PoS is the foundation of this Proof-of-Space-Time (PoST) source code. As mentioned earlier, Lambda is not an ordinary blockchain, it is a platform for combining, storing, and communicating many blockchains. LAMB token helps to provide all the main functions of the site, among which it is important to highlight:

  1. exchange of information between chains;
  2. affiliate storage;
  3. PDP - evidence of data ownership;
  4. ensuring strict confidentiality of information;
  5. distributed intelligent computing.

Where did Lambda (LAMB) come from?

This cryptocurrency is an ERC-20 standard token based on Ethereum. Lambda (LAMB) entered the cryptocurrency market in 2018. The creators released 6 billion tokens to the market. 30% of these tokens were bought, and as a result, on the initial offer, the creators earned about $15 million. All other LAMB tokens were aimed at developing the project and meeting its needs.

What are the advantages of Lambda (LAMB)?

  1. An individual protocol and technology of the main chains
    Which allows Lambda to conduct more than 5 thousand transactions every second.
  2. An efficiently working system
    For backing up user data, which operates in conjunction with leading companies producing cold storage of cryptocurrencies.
  3. A solid programming interface
    Which is a prerequisite for the creation of a controlled cloud space that ensures uninterrupted operation of all DAPs implemented on the API.

What are the disadvantages of Lambda (LAMB)?

  1. Lambda mining is impossible, to purchase this cryptocurrency, one needs to buy or exchange crypto

How to exchange crypto on SimpleSwap?

Want to buy some crypto? You can use SimpleSwap — just check out the instruction below:

  1. For example, you want to swap BTC to ETH. Select the currency you want to exchange (e.g. BTC) in the first drop-down list. Then enter the amount you want to swap.
  2. Select ETH in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. ETH will be sent there. Be careful and make sure you use the correct address.
  5. Create the exchange.
  6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to ETH exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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