LightLink (LL): Empowering Blockchains With Gas-Free Solutions

As blockchain technology has evolved and its digital innovations grown more prevalent across various aspects of business and society, various challenges have arisen. Although blockchain tech offers decentralization, transparency and smart contract security, issues such as difficult user experiences, expensive transaction fees and problematic scalability persist. Now, LightLink_® is addressing these issues through its innovative architecture and features.

Key Takeaways:

• LightLink is a Layer 2 blockchain network with functionality for individuals, decentralized applications and enterprises. 

• Looking to trade LightLink tokens? Bybit now offers the LL/USDT Spot trading pair.

What Is LightLink?

LightLink is a Layer 2 blockchain network with functionality for individuals, decentralized applications (DApps) and enterprises. It addresses common blockchain technology issues and provides gas-free transactions.

LightLink draws from Ethereum’s go-ethereum (Geth) best practices and uses Celestia’s advanced data availability solutions in its architecture and features. It provides a streamlined, superior user experience, lower transaction fees and enhanced scalability as compared to on-chain Ethereum transactions. At the same time, it utilizes decentralized finance (DeFi) and security attributes from Ethereum Layer 1. While LightLink uses existing Ethereum tools, it provides a viable alternative to the Ethereum virtual machine (EVM). By empowering users and developers to have a better experience, it moves blockchain tech into the future.

History of LightLink

LightLink launched in 2017 to leverage existing Ethereum tools while processing transactions off-chain. Its co-founder and CEO, Roy Hui, partnered with Pellar Technology for development. Lightlink enables instant and gasless transactions with security and speed, and has rapidly been adopted by enterprise and personal users and for DApps. In fact, there are now more than 215,000 LightLink wallets, and it ranks in the top 10 rollups by transaction volume. 

The LL native token was launched in April 2024. LightLink is backed by Animoca Brands, MQDC, T&B Media Global, B3V and others. Its core advisors are Ryan Horn, Mehdi Farooq and Nathan Lenga.

What Does LightLink Aim to Achieve?

LightLink aims to address issues that have plagued early blockchain tech adopters, including expensive gas fees and the uncertainty of transaction fees until the completion of a transaction. It also strives to improve the speed of transaction throughput, as compared to other blockchain networks, and aims to create an interconnected DeFi economy by bridging DApps.

How Does LightLink Work?

LightLink, an alternative to the EVM, processes transactions off-chain and then compresses multiple transactions using a sequencer mode. Its transaction throughput is greater than that of Ethereum because it utilizes rollup tech to provide gasless transactions and faster processing speeds. Enterprise users and individual users benefit from LightLink’s compatibility with Celestia’s solutions, which enables instant processing of multiple transactions without gas fees.

Features of LightLink

LightLink offers an alternative to on-chain Ethereum transactions. Its many features combine to deliver a superior experience, enabling users to benefit from full access to DeFi benefits with a focus on speed, security and affordability.

Enterprise Mode

Enterprise Mode is among LightLink’s key features. It supports gas-free transactions via a MetaMask wallet via a direct process, allowing developers to establish a contract address whitelist by paying a monthly subscription fee. 

The developer’s subscription fee subsidizes users’ fees for DApps. As a result, LightLink's Enterprise Mode empowers users to use the whitelisted apps without being charged gas fees. Additional benefits of LightLink's Enterprise Mode are a fixed fee, multiple transactions processed without fees and access to LightLink’s enterprise partners.

Bridge

LightLink’s bridge enables users to convert their crypto assets easily and efficiently. Users specify the token type and amount they want to bridge. The bridge functions with both Ethereum and BNB Smart Chain. After the user connects their wallet and finalizes their transaction, the order is executed, and the user can see the estimated time to transfer before order execution.

Explorer

Developers and other users have three Explorer features from which to choose. Zonic NFT Explorer allows users to view their utility tokens in an NFT format. LiteFlow NFT Explorer supports marketplace trading for all NFTs. The Blockscout Explorer provides users and developers with detailed stats on smart contracts, gas fees, blocks, decentralized exchange (DEX) transactions and more.

Bolt

Bolt is a LightLink plugin that supports the development of decentralized gaming apps. It uses Enterprise Mode to support high volume and gasless transactions. In addition, the plugin uses smart contacts to support token minting that connects with the game’s results.

LightLink Foundation

The LightLink Foundation fosters continued advancements in blockchain technology through grants, collaborations and partnerships. It identifies projects that advance DApps and other aspects of blockchain technology.

LightLink Road Map

LightLink reached several milestones from the time of its launch in 2017 through 2022: the development of its digital wallet and supporting technology, the completion of token contract and blockchain audits, and the establishment of partnerships in the APAC region and with investment banks. During the first half of 2023, both the Testnet and private Testnet went live, and the Translucia metaverse and the Testnet bridge launched. 

In addition, the network completed the migrations of Tridentity and The Red Village. Later in 2023, the platform made headway on its mainnet bridge, Phoenix Mainnet, Elektrik AMM v1, Community Airdrop, APAC Gasless GameStorm Hackathon and the integration of Celestia and Pyth. Through the end of 2024, attention will be focused on DA exploration, sequencer decentralization and DAO governance.

LL Tokenomics

LL, the LightLink native token, was launched on Apr 24, 2024, it plays a role in governance and yields rewards for holders and stakers. Total token supply is 1 billion, with allocation as follows: 

• Ecosystem growth fund: 40%

• Private seed-raise VC: 14%

• LightLink team: 14%

• Staking reserve: 10%

• Airdrop: 6%

• Token generation event: 6%

• Advisors: 5%

• Liquidity market making: 5% 

LL Price Prediction

As of May 8, 2024, the LL token’s price is $0.08511, which reflects a decrease of 8.2% over the past 24 hours. Market cap is $6.9 million, and 24-hour trading volume is $7.8 million.

According to PricePrediction, LL’s price will reach $0.1083 by the end of 2024 and surge to $0.999 by 2030. This positive sentiment is supported by analysis from DigitalCoinPrice, which believes that LL’s price will reach $0.19 by the end of 2024 and increase to $0.65 by 2030. 

Where to Buy LL

Looking to trade LightLink tokens? Bybit now offers the LL/USDT Spot trading pair. To get started, you’ll need to first create a Bybit account, fund it with cryptocurrency and navigate to the LL/USDT Spot trading page. 

Is LL A Good Investment?

All crypto investments have associated risk due to the volatile crypto market. LL is expected to increase in the future, and may therefore be considered as a long-term investment. The platform provides seamless integration with existing Ethereum tools, along with off-chain transaction processing for a better user experience. With this in mind, the project may continue to grow in usage. Always conduct your own research before making any cryptocurrency investment.

Closing Thoughts

LightLink offers seamless integration with Ethereum and other networks to offer optimized utility for users. With functions such as its Enterprise Mode, scalable architecture and the ability to leverage existing Ethereum tools, LightLink empowers users to complete multiple transactions quickly and without gas fees. Add in its DEX applications and overall functionality, and LightLink empowers users with a better blockchain experience.

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