Laser is a service layer model that operates on top of a blockchain network. It provides services that may not be native to a given blockchain, such as near-instant transfers, and anonymous transactions. It also has the capability of interacting with other blockchains that also have this service layer, effectively enabling separate blockchains to seamlessly interact with each other.
No. Laser is not a cryptocurrency by itself. However, Laser will have its own crypto coin called a Photon. All holders of Ethereum currency before the hard fork will receive the equal number of Photons on upgrading their software. Please refer to the whitepaper for more information on the Photon cryptocurrency.
Using an overlay protocol, nodes are able to perform verification checks in a matter of milliseconds in order to “pseudo confirm” transactions, without having to wait a matter of minutes or longer. Please see our whitepaper for a detailed explanation of this functionality.
With a joining technology, same-currency transactions are bundled together and sent to a “ghost” wallet that is pre-programmed to redistribute the lump sum according to the amounts specified by the original senders, to the recipients specified by the original senders. This optional service will obscure details of previous ownership of a given token, preventing transactions from being traceable on the blockchain. Please see our whitepaper for a detailed explanation of this functionality.
By creating a “generic” address code, users can deal with one another across blockchains under a single username system. Since blockchains with the Laser service layer can now “speak the same language”, these two blockchains can interact with one another enabling cross-blockchain trading. Please see our whitepaper for a detailed explanation of this functionality.
The primary difference is in accountability. The true backbone of blockchains is the supply of full nodes to verify transactions (not the supply of miners, which process transactions). Since these full nodes generally do not get rewarded like miners do, there is little incentive to operate them. Laser’s model provides for compensation of full nodes, while also requiring them to put up collateral in order to operate. With incentives to provide stable computing resources, and do so honestly, Laser will ensure a reliable, trustworthy, and sustainable blockchain environment.