We are super excited to be sharing our journey at LightLink with you. The journey hasn't been easy but we are sure that with your participation, it will have been worth it.
The team at Lightlink have been working towards this network since 2017, when we deployed our first blockchain as a permissioned layer 1 solution offered to enterprise customers. Over the years, with much blood, sweat and tears over hundreds of iterations, we eventually found our way to power large investment banks and public transportation projects with our blockchain technology.
Over the years, we spoke to business leaders around the world, and were met with excitement as well as healthy scepticism. We believe that blockchain technology, where trust and truth is established through math, is a fundamental shift in our civilisation. In our dynamic and challenging digital world this simple, elegant and perfectly suited technology allows enterprises to utilise an intermediary where trust is not a leap of faith but provably reliable.
As the blockchain ecosystem became more mature, especially with the explosive growth of the Ethereum ecosystem, we have decided to pursue further openness, transparency and trust. We are planning to consolidate our public facing projects and migrate them all to a new public Layer 2 network. We have decided to name the network LightLink and adopt as our cornerstone values - connectedness, interoperability, openness, and transparency upon which we will help foster a thriving ecosystem.
We believe the success of this new network will come from hundreds of millions of users and hence are introducing 'Enterprise Mode', developed specifically for enterprise use cases.
The heart of the the enterprise mode is use of smart contracts on our EVM network to allow certain applications to be allowlisted, which means the contract can be called by a public user without incurring gas. This innovation essentially flips the economic equation of who pays to utilise a blockchain service on its head, with the enterprise customer covering the cost of fees instead of their consumers.
This removes a barrier of complexity faced by current blockchain customers - the need to purchase and hold a native chain token to conduct any type of transaction, such as requiring MATIC to send USDC on the Polygon network, or BNB to transfer NFTs on Binance Smart Chain.
We see a world where a consumer using an application of one of our enterprise partners needn't any prior knowledge of cryptocurrency or blockchain technology and their onboarding is as simple as downloading an app to their phone, or logging onto a website. They can access their loyalty points or concert tickets in a way they are familiar with and may not even be aware these are held on the blockchain at all.
This seamless onboarding experience opens the door to many different experiences such as DeFi applications and Metaverse worlds, and with the composable and vastly interoperable nature of our network with the many others out there we are excited about what users of Lightlink will discover.
This is only the start to LightLink, wait till you see what we do next :)
- Roy Hui