By transferring the micro & high-frequency transactions to off-chain, layer 2 technology helps public chains to get rid of its performance limitations and improve its efficiency. LITEX developed layer 2 technology based on Ethereum, and has upgraded the TPS of Ethereum from the original 20-30 to more than 10000 on off-chain without upper limit, far beyond the speed of current public chains.
LITEX optimized and upgraded the lighting network which realized payment channel expansion and partial withdrawal. Compared with classic lighting network, the capital and time efficiency has increased by 200%-300%. In addition, there is no gas fee for off-chain transfer except opening or closing the off-chain channel, which greatly reduces the transaction cost.
The off-chain transaction security of layer 2 technology is ensured by cryptography and game theory. The off-chain transaction data can not be falsified after being signed by multi-party and can be returned back to public chains for settlement and verification at any time. Therefore, its security is much better than side chain.
: Research and Release the testnet
: Make layer2 technology available for dapp games and payment fields
: Advance the layout of LITEX in global crypto payment ecology
:Build the largest commercialized layer2 ecology worldwide
Graduated from Jilin University with the master degree, Bin Chen was the former architect of PayPal. He was the director of integration for Hitachi U.S. system, chief architect of Abacus and chief engineer of the Nokia U.S. network application, which provided him with rich oversea experiences especially in architecture of payments industry. Bin Chen has translated and published many works such as “The Architecture and Its Future”, “Scripture of Architecture”, and “Big Data Is the Future - Road of King”, which makes him a practitioner and evangelist of cutting-edge network technology.
Apr.10thLaunched on the Huobi Global exchange.
Jun.25thEstablished the strategic cooperation with Wanchain.
Jul.7thParticapted in Wanchain’s trip to Southeast Asia.
Jul.12thLaunched on the Fcoin exchange.
Aug.8thLaunched on New York NASDAQ screen.
Oct.15thEstablished the strategic cooperation with Matrix.
Oct.24thReleased the testnet v0.2 version.
Dec.1stLaunched the first ever commercially applicable layer2 product solution globally.
Dec.20thEstablished the strategic cooperation with Imperial Throne.