As we all know that Lyra is built with great ambitious from the very first day, by co- founder Slava Gomzin. Slava introduced block lattice to the structure invented by Nano, and finally makes Lyra a permissionless blockchain. Being permissionless blockchain means we can create any token just like what Ethereum does. This is the most undervalued feature of Lyra, at least for now.
But only being able to create a token is not enough. Theory of economy tells us that only by trade can we create value. So, if Lyra wants to create value for every token on it…
Nano uses so-called Open Representative Voting (ORV), where consensus is achieved by voting on conflicting transactions. While most of the time the approval is instantaneous, the approval does not provide a 100% confirmation because it can be “disputed”. In case of a double spending attempt, for example, the special voting will be initiated to resolve the conflict.
Lyra secures its ledger via its unique implementation of Distributed Proof of Stake (DPOS) and proprietary consensus algorithm. …
Unlike traditional bitcoin-like blockchain, where all transactions are compiled in blocks in a single blockchain, block lattice (introduced by Nano) is a collection of multiple blockchains. That’s why we also call it blocklist as that’s how exactly the Lyra node database looks like — a big list (collection in nosql database terms) of blocks. Each user account adds transactions to their own blockchain. Such architecture enables extremely high scalability, instant authorization and settlements, super light clients (wallets), and other important features that are necessary for mainstream business adoption. Let’s review them one by one.
High Scalability (large number of tps…
Hello everyone!
Here is a brief update on Lyra development status!
Currently, the Lyra dev team is dealing with the short-term projects which — when completed — are supposed to finalize the main development phase of the Lyra network. Joseph is mostly working on a new multi-platform wallet (this includes mobile!), while Slava is focused on automated dividend distribution for both forms of Lyra DeFi staking — DPoS revenues (from node operators to their voters) and collectible NFT rewards (from the network to the NFT owners). As a reminder — the automatic distribution of the node fee revenues (from the…
White Paper / Design Proposal
What it is
Multisig Deposit Vault is needed to allow decentralized automated tokenization — exchanging of crypto coins to their equivalent tokenized by Lyra, which then can be used for processing real time payments and trading. For example, a user wants to exchange ETH to BTC. The user sends an amount of ETH to the address of the multisig wallet provided by the current authorization sample. Once transfer is done, the sample issues an equivalent amount of Lyra.ETH tokens which can securely reside and instantly circulate inside the Lyra network. Then Lyra.ETH tokens can be instantly traded to…
White Paper / Design Proposal
Introduction
While some people still associate privacy cryptocurrencies with darknet, black market, and hacker attacks, this perception is based on the fact that such illegal applications involve payment systems with a high degree of anonymity and privacy. The reality, however, is opposite: payment systems that provide ultimate anonymity and privacy to their users perfectly serve everyone’s needs, including, unfortunately, illegal activities. Another myth states that privacy and anonymity are only required for people who have something to hide. …
In celebration of Lyra mainnet launch, and as a demonstration of the Lyra blockchain capabilities, we create the first collectible Lyra NFT with attached rewards
Attached Rewards
Some special collectible NFT issued by the Lyra team come with an attached rewards as a daily payout to the NFT instance owner’s account. The amount of the payout depends on the NFT type and balance of the account:
Lyra/Alpha
100% APR of daily average account balance, calculated and paid daily, for at least 1 year; minimum balance requirement for receiving daily reward is 5M LYR.
50,000 LYR, paid in daily installments (137 LYR / day)…
Lyra tokens can be created as either indistinguishable, fungible or unique, non-fungible tokens (NFT). In fact, there are use cases for both in most applications, with transition from fungible to non-fungible at the time of redemption. Example: fungible reward tokens (as accumulated loyalty reward points) and non-fungible discount tokens that contain unique discount codes or gift (as loyalty reward redemption mechanism).
There is another big nische for NFT — collectibles. Unlike discount NFT mentioned above, collectibles do not carry any specific function, but can be used as awards, memorabilia, or simply rare digital collectible artifacts.
Each instance of Lyra NFT…
Lyra is designed and coded from the ground up, which allows to include most recent achievements in blockchain technologies. Those new technologies in turn allow to implement features that prevent mass adoption of most existing blockchains by mainstream: very high scalability, instant authorizations and settlements, super light clients, no chargebacks, no locked balances, native multi-token (i.e. multi currency) support, built-in decentralized exchange, and more. Payment industry will never take crypto seriously before these key features are present.
Customizable fungible and non-fungible tokens
Lyra can generate unlimited numbers of customizable tokens that can be used by merchants for their closed loop systems, for a very low…
To make things clear at the beginning and the long story short, Lyra blockchain is a DeFi technology in its core, because it was designed, architected, and coded as a DeFi blockchain, and it was DeFi-driven even when it only existed on paper (the white paper to be more precise). The only missing thing was the word “DeFi” itself because it was not so hot back in January 2019 when Lyra white paper was first published. So let’s see how Lyra follows the DeFi pattern.
First of all, Lyra is designed as a multi-token blockchain, where each token represents a…
