LAOS Network – Bringing Scalability To EVM Chains, Without Bridges
As LAOS heads into its token sale on July 11 through Tokensoft and Bit2Me, let's take a closer look at what makes LAOS Network different and why it might be a big deal for the future of blockchain technology.
A New Approach to Scale EVM Chains
LAOS Network is the first Layer-1 blockchain connected without bridges to Ethereum, Polygon, and other major ecosystems. As more people and businesses use digital money, we see the need for fast, cheap, and easy solutions. The crypto community has faced issues like high fees, slow transactions, and the challenges of moving assets between different blockchains.
LAOS is positioned to offload more than 20% of all EVM transactions, allowing users to save on native gas fees while remaining in the blockchain of their choice.
What’s the Exact LAOS Network?
LAOS Network bills itself as "The Universal Layer-1 for Digital Assets Across All Blockchains." But what does that actually mean? In simple terms, LAOS is building a blockchain that can work seamlessly with other popular blockchains like Ethereum and Polygon.
It's designed to make creating and managing digital assets (like NFTs) easier, faster, and cheaper – no matter which blockchain you prefer.
Key Features of LAOS Network
Bridgeless Connectivity
One of the coolest things about LAOS is its "bridgeless connectivity." Usually, moving assets between different blockchains requires complicated bridges, which can be slow and risky. LAOS uses a technology called "Universal Location" to connect directly with other blockchains. This means you can create, trade, and use assets on the blockchain of your choice while paying fees on LAOS – potentially saving you a lot of money.
Cheap and Fast Minting
Creating new digital assets (called "minting") can be expensive on popular blockchains like Ethereum. LAOS is positioned to offload more than 20% of all EVM transactions, allowing users to save on native gas fees while remaining in the blockchain of their choice. Users are able to mint hundreds of assets per second, much faster than what's currently possible on most blockchains.
Expandable Metadata
LAOS introduces an interesting feature called "Decentralized Asset Metadata Extension." This essentially means that anyone can add extra information or functionality to existing digital assets, even if they didn't create them originally. This could open up new ways to use and improve NFTs and other digital items.
Built on Polkadot
LAOS isn't starting from scratch. It's being built as a parachain on Polkadot, which gives it some immediate advantages in terms of security and interoperability. This also means LAOS will use a similar structure to Polkadot, with its own system of "shards" to help it scale and handle lots of transactions.
Use Cases for LAOS Network
Gaming – LAOS could be a big deal for blockchain gaming. It would allow game developers to create tons of in-game items cheaply, and those items could easily work across different games and platforms.
NFT Collections – Artists and creators could mint large NFT collections on popular chains like Ethereum but at a fraction of the usual cost. These NFTs would still be tradeable on major marketplaces like OpenSea.
Real-World Assets – LAOS could make it easier to tokenize real-world things like invoices, certificates, or even shares in companies. The ability to update information easily could be really useful for keeping these digital representations accurate.
LAOS Network Token and Sale
LAOS is planning to launch its own cryptocurrency token, also called LAOS. Here are some key points about the token:-
Token sale begins July 11, 2024, through Tokensoft and Bit2Me.
The initial token price is set at $0.08.
Tokens will be gradually released over 12 months after purchase.
You'll be able to buy tokens with various cryptocurrencies or euros.
Token holders will be able to stake their LAOS to help secure the network and earn rewards.
LAOS tokens will also give holders a say in how the network is run through voting.
It's worth noting that there will be some restrictions on who can participate in the token sale, based on regulations and the buyer's location.
Roadmap and Future Plans
LAOS Network has an ambitious plan for development:
They've already been accepted into Polkadot's Substrate Builders Program.
A test version of LAOS is expected to launch on Kusama (Polkadot's "canary network") in late 2023.
The full launch on Polkadot is planned for mid-2024, with the token sale happening around that time.
Throughout 2024, they plan to roll out key features like bridgeless minting and metadata extension.
By the end of 2024, LAOS aims to be fully decentralized with its own governance system in place.
Why LAOS Network Matters
LAOS is poised to solve some of the most complex problems in the blockchain world:-
Cost – By dramatically lowering the cost of creating and managing digital assets, LAOS can make blockchain technology more accessible to a wider range of users and businesses.
Scalability – The ability to mint hundreds of assets per second could enable new use cases that weren't practical before due to blockchain congestion.
Interoperability – By working seamlessly with multiple blockchains, LAOS can help break down the walls between different blockchain ecosystems.
Flexibility – The ability to extend and update asset metadata could breathe new life into existing digital assets and enable more complex applications.
Challenges and Considerations
While the LAOS Network sounds promising, it's important to remember that it's still in development. New blockchain projects often face technical challenges, regulatory hurdles, and competition from established players.
It remains to be seen how well LAOS will perform in real-world conditions and whether it can attract enough users and developers to build a thriving ecosystem.
Conclusion
LAOS Network is an ambitious project that's trying to solve some of the biggest headaches in the world of digital assets and blockchain technology. By offering cheap, fast, and flexible ways to create and manage assets across multiple blockchains, LAOS is positioned to become a key piece of infrastructure for the next generation of blockchain applications.
Whether you're a developer, investor, or just someone interested in the future of digital ownership, LAOS Network is definitely a project worth keeping an eye on as it moves towards its full launch in 2024.
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