“I am Prometheus, giver of fire to mortals..”
― Aeschylus, Prometheus Bound
Today Lamden officially launches its mainnet. But does the world need another blockchain, and why Lamden? In 2018, Vitalik Buterin said “If blockchains were only usable by the rich, then the whole space would be much less interesting.” Two years later, blockchain has become an exclusive playing field tilted to favor those who can pay more. Prometheus brought fire to mortals, against the gods who wanted to keep it for themselves. Similarly, Lamden aspires to bring the power of blockchain to humans, away from the clutches of the profiteering elite.
Three years ago, blockchain leaders promised fast, affordable and decentralized networks, including Buterin’s declaration a transaction “should not cost 5 cents… It’s kind of absurd.” Those promises now lie broken, and blockchain has become like a glacier - slow, rigid and inaccessible. This year, the average transaction cost hit $15, and now hundreds of dollars in gas fees are commonplace. A simple transaction can take minutes or even hours to complete. Developing on blockchain remains a complex and costly process.
Bereft of basic performance and practicality, blockchain has become a plaything for the elite and a platform more for speculative trading than for establishing a creditworthy ecosystem. Today’s mainnet launch is a signal fire and a call to action to restore blockchain to its original purpose and function.
Lamden is a novel blockchain both old school and revolutionary. It goes back to the basics in being simple, open and user-friendly. Instead of modifying an existing system, Lamden engineers built a brand new custom blockchain from scratch. The result is a disruptive product that is significantly faster, easier and cheaper to use than the leading blockchains.
Lamden is fast; transactions are done in less than one second, versus minutes or hours on Ethereum. And throughput can scale to over 100,000 TPS, which is over 5,000 times greater than Ethereum. The outrageous transaction fees on Ethereum will be no more on Lamden, where transaction costs are pennies for every dollar of Ethereum gas fees.
Lamden’s open-source, Python-native platform empowers developers to focus on building and monetizing applications faster than other blockchains. Using Lamden is cheaper too, with dynamic transaction fees voted by the community, keeping fees low no matter the network traffic. With intuitive user interfaces, a robust set of libraries and built-in test framework, Lamden makes writing a smart contract easier than ever. Lamden is also the perfect platform for building massive multiplayer games, NFT/collectible apps, payment networks and DeFi applications.
A New World
Lamden has many exciting products and features in the pipeline for release after the mainnet launch, but community members can start developing their ideas now using Lamden’s smart contracting system. For an introductory period, developers will automatically earn 90% of all TAU used to transact against their smart contracts. Stay tuned for more information this fall.
Get ready to change the world with Lamden.