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Lambda (LAMB) is the 668th largest cryptocurrency in the world by market cap, valued at $9,672,000. The current price of Lambda is $0.001612, which is -3.704% lower than yesterday. Prices have ranged between $0.0016814 and $0.00150965 over the past 24 hours. All prices are listed in US dollars and accurate as of January 31, 2023 01:01 UTC.
Lambda is a blockchain dedicated to the creation of a decentralized network for data storage. According to the whitepaper, many blockchain projects suffer from the challenges of throughput (transactions per second, or tps), data storage and data interoperability.
Centralized finance can still offer tps far greater than any blockchain and many blockchains are not readily designed to handle large amounts of interoperable data storage. As a result, many decentralized applications (dApps) face challenges upon startup. Lambda looks to tackle these issues by allowing data to be saved on different chains and blocks according to data type. The project is focused on building an infrastructure for dApps so that they can utilise this new data-storage technology. Components of the infrastructure will include multi-chain data co-storage, cross-chain data management, data privacy protection, and provable data possession (PDP). The core of these services will be built on the LambdaChain consensus network. LAMB is the native cryptocurrency of the Lambda ecosystem and was developed on the Binance Smart Chain (BSC). The token is primarily used to pay for all services of the Lambda network and to encourage the network of validators. Those that wish to validate transactions in the network need to stake LAMB tokens. The token also provides a reward system for those that provide data storage capacity.
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