To build powerful Decentralized Applications (DApps), Lightstreams supports the following features.
The flow of an application between its different states needs to be fast in order for the user experience of a DApp to feel responsive. This requires fast confirmation times of blockchain transactions so that there are no long waiting times when the application persists blockchain information. Lightstreams provides an Ethereum-compatible blockchain called Lightchain that uses a Tendermint Byzantine Fault Tolerance(BFT) consensus mechanism to achieve fast consensus on new block proposals. Transaction throughput is 50x faster with near-instant settlement times.
Lightchain is a public blockchain like Ethereum. Any device can connect to the network without requiring permission and begin interacting with the blockchain.
When using an application a user requires their personal information is kept private and the information they share is kept private within the members of a private group.
Lightstreams has developed the Smart Vault, a decentralized datastore that has privacy controls for sharing and selling digital content. The Smart Vault uses the IPFS Network, an offchain distributed data storage system that can easily be integrated into any DApp.
The Smart Vault has a security layer preventing access to any item of stored data unless permission has been granted. This includes encrypted data. The data owner has complete control over who has access to their data when it was approved and can revoke access at any time.
Smart Vault can be used to:
Sell digital content (e.g. video, music, images).
Transfer ownership of digital assets (e.g. land titles, vehicle registrations).
Share content within a private group.
Store a user's personal information and activity.
The gas fees for running a DApp on Lightchain are priced at a fraction of the cost of running a DApp on the Ethereum mainnet.
Lightstreams also permits gasless transactions that DApps can use to provide free transactions to users so that they can begin using a DApp without needing to have a digital wallet or tokens to pay for transactions.
Using gas station relays, applications pay the initial up-front transaction fees on behalf of their users for trying out their DApp. After certain conditions, the user can then choose to begin paying the transaction fees.