Lava Network: Abbreviated Introduction
Reliance on centralized node providers brings a certain set of risks, such as blocking access or offline interruptions. Venezuelan users experienced this risk when a major Remote Procedure Call (RPC) provider accidentally censored their Internet Protocol addresses, breaking up their ability to use their wallets and essentially blocking access to Web3.
Lava Network attempts to solve issues associated with centralized infrastructure by coordinating a decentralized, globally distributed network of nodes while ensuring data accuracy and network redundancy utilizing cryptoeconomic incentives and consensus mechanisms.
Lava Network is built with an open-source development kit that was also used to build Binance Smart Chain and Cosmos Hub. The project uses Lazy Blockchain, which favors larger block sizes and has the ability to backfill transactions.
The native token, LAVA, provides three use cases.
Lava Protocol Inc., the copyright holder, is incorporated in Delaware. A fully DAO-governed model will be launched once every key component of the protocol has been built and undergone thorough testing.
The team has a strong technical background, and multiple investors are backing the project.
Currently, the project runs an invite-only private Testnet and gradually onboard new users. The public testnet is supposed to be launched in Q4 2022, while the mainnet is supposed to launch in the first half of 2023.
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