Lambda (LAMB) Data Storage - ICO Review, Rating and Details of Lambda ICO (Token Sale) - Rating: Pass

Lambda is a safe, reliable and infinitely scalable decentralized storage network, which achieves the decentralized storage of data, the integrity and security verification of data, and the operation of market-oriented storage transactions based on the Lambda Chain consensus network, so as to provide infinitely scalable data storage capacity for the next-generation Internet of Value. Storage security is the core of decentralized data storage. Lambda uses the Proof of Space Time (PoST) algorithm to ensure data storage security, and Lambda Chain applies the Verifiable Random Function (VRF) + the Byzantine Fault Tolerance consensus algorithms to ensure the operational efficiency and reliability of the consensus network. At the same time, Lambda connects storage suppliers (miners) with storage demanders (users) through the exchange (marketplace), thus completing decentralized transactions through chains. In terms of storage, Lambda has first been used to provide a distributed data distribution and storage network. The specific storage forms will be gradually improved and applied to actual business systems.

Problems & Solutions

  • Consensus Network: Composed of thousands of nodes, the Lambda consensus network acts as a consensus protocol based on VRF and BFT. LAMB token transactions can be completed in the network. It also acts as a connection between storage resource providers and storage users, to provide them with functions such as matching, billing, rewards, penalties, and data verification, thus ensuring that the decentralized storage is safe, verifiable, and flexible.

  • Storage Network: The storage and consensus networks in the Lambda system are logically decoupled. The heterogeneous storage network can provide diversified, decentralized or other types of storage capacity, but it must follow the Lambda data integrity verification protocol.

  • Marketplace: Lambda supplies service providers and users with trading capacity. Users rent and pay for storage space, while storage service providers obtain the appropriate service revenue. Transactions are completed through non-high-frequency operations, after which users can obtain real-time storage service capacity, without the need for real-time matching between storage and retrieval resources. This enables real-time access to resources, making Lambda a public BlockChain with an accessible application.

  • Development Kit: An important technical component of Lambda's storage ecosystem, the development kit provides universal storage access capacity, including upstream and downstream data interfaces compliant with the existing cloud storage interface specification, enabling users to seamlessly enter the Lambda system. The development kit also allows other storage solutions to be connected to Lambda, making Lambda a heterogeneous storage network that provides services for different storage requirements.

Features & Highlights

  • Validator: As consensus candidate nodes, validators are responsible for packaging transactions, generating consensus-based blocks, verifying PoS, and executing contracts to match storage and retrieval orders, and clear fees. There are two ways to become a validator - one is to contribute to the Lambda ecosystem in the early stage, and the other is to be promoted to a validator from a miner. However, the former kind of validator eventually has to log out.

  • StorageMiner: The nodes that provide storage services are called storage miners. They become miners by pledging LAMBs. Storage miners can earn storage revenue by providing storage capacity and PoS for demanders, and also have the opportunity to become potential validators.

  • RetrievalMiner: Retrieval miners can access the system at any time to provide resource download services for users by pledging a small number of LAMBs. Their income mainly comes from charges based on the amount of data retrieval.

  • LAMB-PDP: The Provable Data Integrity of Lambda is based on Provable Data Possession (PDP) and Proof of Retrievability (POR). Lambda optimizes publicly verifiable schemes so that the challenge input of PoS is generated by the parameters on the chains. Storage miners perform predefined proof functions to generate a well-proven chain of evidence, which is submitted to the network for verification by the validators that generate blocks.

  • Local Node: Storage miners need to join the distributed storage system, and run the Local Node to join chains and perform operations on them, such as pledging, order submission, and fee payment verification. The Local Node can be a full node participating in the complete verification of ledgers, or a light node used only to complete operations on chains.

  • Sector: Storage miners use sectors as the units to divide up storage resources and register them on chains, and to carry out data integrity verification. Users take order files as the units for purchasing storage space from the system, while storage miners charge fees based on the actual amount of data stored, with the payment cycle usually equivalent to N (a variable parameter) block generation cycles. A sector is a virtual data structure and the organizational form of data stored at the miners' location.

  • Order: Storage customers purchase storage space with sectors as the unit, i.e. /GB/C is the unit price, where C is a variable parameter of the system. Generally, there are M block generation cycles, or M days, months, or years.

  • Piece: Generally, large customer files need to be sharded and uploaded to storage miners, where each piece has a fixed length of L, and L is a system parameter. L can be modified later by communities, in accordance with the system requirements. If a file is shorter than L, it will be charged according to L.

  • ProofSet: Storage miners collect storage proof (chain data) with sectors as the units. The proof set is broadcast to the consensus network to be verified and packaged by validators and stored in BlockChains. Proof sets also require the auxiliary storage of storage miners to reduce communication traffic throughout the system.

  • Wallet: Lambda wallet contains the LAMB transaction function, LAMB balance query function, user purchase order history and validity period display function, miners' sector pledge and usage information, fee payment information, etc.

  • ConsensusNode: All validators can become consensus nodes, which are temporary roles, subject to re-election through VRF during each block generation cycle.

  • ValidatorTable: The validator table keeps a record of all validators that are valid for a certain period of time. The initial validators are initialized to be entered when the network starts. The subsequent addition and elimination of nodes are modified by community governance contracts, and are synchronized to the entire network through consensus.

  • System Contracts: System contracts are built-in, with several default contracts in the Lambda system that are automatically executed when blocks are generated, including community governance, default exchange, fee payment, and order restoration.

  • SpaceID: The explicit storage identifier Space ID can be purchased in the built-in trading centre. It can only be linked to certain storage space of the miners. Space IDs have priority matching rights during order matching by the storage exchange. A Space ID represents the right to match a certain amount of storage. The total supply of Space IDs in the system is related to the total storage space of the miners, and Space IDs can be traded and transferred among miners.

  • Exchange: Here the Exchange refers to the storage or retrieval trading market. The Lambda system supports multiple exchanges, which are operated by various independent third parties. Operators can define their own business rules, and attract more miners and users to their exchanges to accrue more revenue.

Token Utility & Use Cases

Lambda is a decentralized storage network that issues the digital currency LAMB, which is native to the ecosystem. The consensus network composed of validators is responsible for maintaining account books and obtaining block generation rewards. Storage miners can compete to be promoted to validators. They need to pledge LAMBs to the network to become candidate nodes for block generation. Validators have a dynamic update mechanism.

  • Storage and Retrieval Miners: To become storage miners, miners need to complete resource preparation and pledge LAMBs equivalent to the resources stored on the network. To become retrieval miners, miners need to directly pledge a small number of LAMBs to the network. Storage and retrieval miners can obtain LAMBs by providing services. Storage miners can be promoted to validators and earn block generation rewards from the consensus network by accumulating credits and storage quantity. Storage miners who have not yet been promoted to validators also have the opportunity to obtain certain block generation rewards.

  • Storage and Retrieval Transactions: Storage and retrieval miners enter the built-in exchange(marketplace)after completing the pledge. Lambda's built-in exchange pools and merges storage miners based on the price of pending orders and the storage quantity. When customers place purchase orders, the system automatically completes matching based on the price, storage space and other conditions, and customers' consumption funds are integrated and hosted in the network. The consensus network carries out regular fund payment, based on the amount of services actually provided by the storage and retrieval miners.

  • Proof of Storage (PoS): Storage miners regularly provide PoS to obtain the storage fees paid by users. The PoS generates challenge parameters based on the random challenge fields in the previous challenge blocks. It generates the proof set over a period of time through the LAMB-PDP algorithm, then broadcasts the proof set to the network to be verified by the validators. They mark its status and apply consensus protocols to confirm that the result has been stored in the BlockChain to be used for rewards, penalties, order restoration, fee payment, etc.

Team Members

  • Xiaoyang He, Founder & CEO, The founder of Lambda and OneAPM. The Founder 35 under 35 in 2015 being called "the best entrepreneur in the APM industry of China". Lambda is one of the most competitive blockchain infrastructure projects around the world providing unlimited storage capabilities for DAPPs. Previously, He was the co-founder of OneAPM which is a fast growing infrastructure software focusing on ITOM (IT operation management) in China. Some refer to OneAPM as the “New Relic or AppDynamics of China” and the company has received strong VC backing from Matrix Partners, Chengwei Capital, and Qiming Venture. Prior to my entrepreneur experiences, He worked at BEA as a R&D software engineer. He was also a blogger and some of my articles have been published by major media such as Forbes China, 36Kr, Sina, etc.

  • Haiqiang Gao, Co-founder & COO, A master of computer science. He graduated from Computer department of Tianjin University and Inner Mongolia University. He used to be the vice president of technology for a network optimization company. He also founded OneASP, a security subsidiary of OneAPM in 2015 and served as CEO.

  • Lucy Wang, Co-founder & CMO, Senior business professional with over 16 years of progressive career development with global leading enterprise software / service organizations as well as VC-backed start-up ventures, including HP, Oracle, and SAP. Extensive experiences in domain areas covering Sales and BD, Marketing, Alliance, Sales Operation, and Portfolio Management. Expertise in dealing with C-level executives / key decision makers involving strategy formulation, execution planning, and regular cadence reporting / presentation. Team player with strong leadership skills, excellent customer-facing communication skills, and comprehensive knowledge of enterprise technology including ERP, CRM, Cloud, etc. Consistently exceeded performance expectation. Fluent in Mandarin Chinese and English.

  • Monan Li, Co-founder & CTO, China’s top programmer. He founded Coreseek and Log Insight. Coreseek is a Chinese Word Segmentation System which is widely used by Chinese Internet BBS (bulletin board system) community.

  • Bingqing He, Co-founder, Experienced Co-Founder with a demonstrated history of working in the information technology and services industry. Skilled in Java, Rust, Service Oriented Architecture Design, Software Development, and Scala. Strong business development professional with a Bachelor's degree focused in Computer Science from Beijing Institute of Technology.

  • Haijun Zhao, Co-founder, Experienced Engineer with a demonstrated history of working in the renewables and environment industry. Skilled in Business Development, Agile Methodologies, Linux, Java, and Management. Strong engineering professional with a Bachelor's degree focused in Computer Science from Dalian University of Technology.

Partnership Overview

  • Bitmain is a blockchain and semiconductor company, dedicated to the design and manufacture of high performance computing chips and software. They serve their customers globally with industry-defining technology - blockchain securitization, AI machine learning and more. Bitmain envisages a world of limitless potential. A decentralized global eco-system which connects and benefits all connected to it.

  • ZhenFund (Chinese: 真格基金) is a seed stage focused venture fund with over $1 billion under management since founded in 2011 by Bob Xu and Victor Wang, in collaboration with Sequoia Capital China. Bob and Victor previously co-founded New Oriental (NYSE: EDU), one of the world's largest education conglomerates. Three of Bob's seed investments have IPOed in NYC: Shiji Jiayuan (Nasdaq: DATE) (世纪佳缘, website), LightInTheBox (Nasdaq: LITB) (website), and Jumei (NYSE: JMEI) (聚美, website). Bob was named to the Midas List four years in a row (2016-2019) and was last ranked at #11. ZhenFund currently dominates China’s early stage venture capital scene, and is rapidly expanding its U.S. practice based in Palo Alto, CA. Its portfolio has over 750 high-growth companies, including 17zuoye, OFO, VIPKID, RED, Hero Entertainment, and Urwork. ZhenFund’s mission is to support, educate, and inspire the next generation of global entrepreneurs.

  • As one of the first Asian blockchain investment firm, Metropolis is dedicated to pushing the frontier of the widespread blockchain innovation forward. Metropolis is not only experienced in traditional finance and Internet industry, but also has the most extensive experience in the emergent blockchain technology. The Metropolis team has strong relationships with the most promising entrepreneurs and top investors in Asia and is bringing industry-specific value-add resources to its portfolio companies to create star projects in the space, such as IOST, DATA and HYDRO, etc.

  • IOST is an ultra-fast, decentralised blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB). Led by a team of proven founders and backed by world-class investors, our mission is to be the underlying architecture for online services that meets the security and scalability needs of a decentralized economy.

  • Ceyuan Ventures is a Beijing-based early stage venture capital firm focused on IT and emerging growth companies. They emphasize backing great teams, technology and business innovation. Their mission is to assist entrepreneurs in creating and building world-class businesses. Their conviction, network of relationships and grass roots culture give them the opportunity to discover the next big idea early.

  • BlockVC is a leading blockchain investment firm. BlockVC is an acknowledged leader around the globe and committed to the pursuit of opportunities in blockchain industry. We have an underlying exposure to 1 VC fund and 2 eco-funds in our portfolio of more than 60 projects. BlockVC focuses on mapping our investment themes into a systematical matrix: infrastructure protocols, application protocols and financial services. BlockVC offers full life-cycle solutions including incubating and asset management to their portfolio that have global impacts.

  • INB is one of the most globally influential investment groups in the blockchain space. Their founding partners have deep experience with blockchain investment, with multiple investments having returns exceeding one hundred-fold, including our Bitcoin holdings which from 2012 to the present time have increased six thousand fold.

  • Funcity Capital is an asset management company specializing in Internet finance, artificial intelligence, blockchain, and smart travel.

  • Kosmos Ventures is a leading investment firm, focused on helping blockchain startups scale and integrate their products into enterprises. They are committed to accelerating the development and adoption of blockchain technology through strategic advisory and investment. They help researchers and founders move from product validation to market validation, through growth to investment attraction, scaled commercial success and international competitiveness.

  • FBG Capital is a crypto hedge fund and venture capital firm based in Beijing, China. They invest exclusively in digital assets via venture investments or ICO.

  • DATA is Decentralized AI-powered Trust Alliance. DATA is a blockchain based digital data authentication protocol powered by AI & P2P mobile storage infrastructure. DATA aims to resolve data fraud, the most overwhelming challenge in digital economy.

  • Perlin is a directed-acyclic-graph (DAG)-based distributed ledger bootstrapping on top of the Avalanche consensus protocol, a Byzantine fault tolerant protocol built on a metastable mechanism to achieve high throughput and scalability. Natively, Perlin is armed with a decentralized compute layer, supplying it with a high-throughput engine that horizontally scales parallel computations. Perlin's novel consensus mechanism and native general-compute engine makes it the fundamental protocol for powering the global decentralized economy.

Social Media Links

Twitter Updates

  • #Lambda team had a great time #OKEx blockchain talks in Istanbul. #blockchain #crypto #Turkey #İstanbul
  • Check out the Updated #Lambda tutorial on how to pledge on Lambda storage network for miners.…
  • RT @_ErkanG: @Lambdaim Türkiye Kanalında sizleri de görmek bizi çok mutlu eder.
  • #Lambda Bi-Weekly report is out with all you need to know on our development, community and marketing updates.…
  • We are preparing launch mainnet😉
  • Knock Knock! Turkish language version of #Lambda's brief introduction. 😉 Turkey speakers are welcome to join our co…
  • Lambda’s founder entrepreneurship story: Part 2🙌 #Lambda project is an innovative business model, that we can from…
  • Our founder had 10 years of experience in the software industry and bring worth hundreds of millions of entrepreneu…
  • #Lambda pre-mainnet updates -> 252.206 PB worth data storage has been pledged by the storage miners. 👉…
  • Warm wishes to all celebrating #EidAlAdha2019, the Festival of Sacrifice. Her gününüzün bayram coşkusu ve mutluluğu…

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