Project overview

Lambda is a fast, safe, and scalable blockchain infrastructure project. It provides decentralized applications (DAPPs) data storage capabilities with unlimited scalability and fulfills services such as: multi-chain data co-storage, cross-chain data management, data privacy protection, provable data possession (PDP), and distributed intelligent computing through logic decoupling and independent implementation of Lambda Chain and Lambda DB. In addition, as a blockchain infrastructure service, with the use of Sharding technology, Lambda Chain provides the capability of processing millions of requests per second (RPS), which increases with the expansion of the system scale; with the use the sub-chain technology, it provides future-oriented technical service capabilities with unlimited scalability. The Lambda chain’s ledger structure uses the UTXO mock-up while supporting the Account mock-up.

Token model

Lambda uses a Delegated Proof-of-Stake (dPoS) consensus mechanism for its Main Chain and the HoneyBadger BFT for its subchains. Therefore, Lambda tokens (LAMB) are used for staking. Stakers and validators are rewarded in LAMB for doing so.

Additionally, LAMB Tokens will be used to pay for renting storage space on the platform.

 

Whitepaper

The Lambda whitepaper is detailed and quite extensive. It explains the different features of the platform as well as its architecture in detail. The role of the different actors and the token model are also well defined. However, it is sometimes hard to follow since there are quite a few confusing sentences. For example: “The POS proof of work is applied in the consensus mechanism for the Lambda chain […]”. Also, they use the term “Nominated Proof-of-Stake” instead of Delegated Proof-of-Stake. These errors are most probably translation errors, but they make the English whitepaper confusing at times.

 

Team

He Xiaoyang
A well-known infrastructure software expert in China and a member of the JVM community, who worked at BEA Systems and Oracle as an engineer. In 2008, he built Blue Ocean Communications OneAPM and launched a SaaS-mode application performance management product in 2014. Within one year of 2014, OneAPM completed four rounds financing of Jingwei China, Chengwei Capital and Qiming Venture Partners, with a total investment of 300 million RMB. OneAPM was elected in the Forrester and Gartner reports and was named the leading ITOM manufacturer in the Asia Pacific region. OneAPM’s SaaS products serve hundreds of thousands of developer users and thousands of companies in China and have extensive influence in finance, telecommunication, government, and large-scale Internet industries. OneAPM landed on the New Third Board innovation layer in 2016 with stock code 838699. He Xiaoyang is known as “China’s first person in the APM industry”. He Xiaoyang was selected as an entrepreneur 35 under 35 in 2015. The Wechat’s public account“He Xiaoyang’s Reading Notes”has great influence and considerable range of readers in the programmer community and corporate services.

Li Monan
China’s top programmer and founder of Coreseek and Log Insight. As an expert of search engine, file system, storage system, and log system, the CoreSeek Chinese Word Segmentation System created by Li Monan was widely used in the Chinese Internet BBS community. Served as a technical consultant for many well-known internet companies to provide technical consulting and consulting services, familiar with the full set of technology stack from the operating system kernel to the browser to the database, has rich theoretical and practical experience on full text retrieval, OLAP database, compiler theory, virtual machine design, file system and data compression. At present, mainly studies distributed intelligent storage.

He Bingqing
OneAPM’s co-founder & CTO, assembly language expert, jointly founded OneAPM in 2013 and responsible for the development of OneAPM core product Application Insight.

Guo Hongqiang
A data scientist with more than 10 years of experience in machine learning and artificial intelligence. He worked as a data science manager at GNS Healthcare in Boston, USA and supervised data science projects of supplier network optimization and severe disease intervention optimization. The products he developed have saved $40 million annually for customers. Before GNS, he spent 5 years at Cornell University in the United States. His research in data science was sponsored by the U.S. government with 6 million dollars.

Gao Haiqiang
Gao is a Master of Computer Science and graduated successively from Computer department of Tianjin University and Inner Mongolia University. His main researches include P2P network design and optimization. He used to be vice president of technology for a network optimization company ACSNO, and founded OneASP, a security subsidiary of OneAPM in 2015 and served as CEO. OneASP got the investment leadership of three banks in 2015, with following investments of Jingwei, Chengwei and Qiming for 15 million RMB in total.

Haijun Zhao
Technical VP at OneAPM, previously worked in Qunar and Kongzhong, joined OneAPM in 2013 and set up the R&D team responsible for product development & management.

 

Roadmap

 

ICO terms

The token sale lasts from September 19th to September 25th.

Ticker: LAMB
Token type: ERC20
ICO Token Price: 1 LAMB = 0.01 USD
Hardcap: 20,000,000 USD
Sold on pre-sale: 15,000,000 USD
Total Tokens: 10,000,000,000 LAMB
Available for Token Sale: 30%
Accepts: ETH

Lambda airdropped a total of 200,000 LAMB tokens to their Telegram members. Each member received 5 LAMB and an additional 5 LAMB for each referral.

Token distribution

token

 

Community hype

Telegram: 41,557 members
Twitter: 3,745 followers
Facebook: 117 likes

 

Strengths

  • Sharding and sub-chain architecture makes Lambda extremely scalable
  • Lambda provides unlimited storage
  • With the BCP protocol, Lambda supports cross-chain transactions with the EOS blockchain
  • Lambda already has a working demo.

 

Red flags

  • The Lambda Mainnet is only scheduled for Q2 2019.
  • The team is not very transparent. They haven’t disclosed the use of funds, the roles of the team members have not been disclosed, there are very few blog posts and these posts don’t really explain anything. Also, they don’t have a GitHub where the community can look at their code so it’s hard to track their progress.
  • There are already many blockchain projects that offer decentralized storage solutions (e.g. Filecoin, Siacoin, Storj, MaidSafeCoin, etc.)

 

Lambda Ratings

Team: 8.3/10

The Lambda team is impressive. All their team members have impressive track records, and some are even renowned worldwide. The only issue is that none seem to have any previous experience with blockchain technology.

Token Model: 6.75/10

Their token model is quite simple. The token is only used for staking in the dPoS consensus mechanism and for renting storage space on the platform. Other than participating in staking, there is no real reason for any user to hold tokens.

Token Distribution: 5.5/10

The token distribution is not as centralized as it could be. There doesn’t seem to be any lockup period for the team and advisors and while there was an airdrop, only 200,000 LAMB ($2,000 USD) were given away. The only good thing is that there is a large portion of the tokens reserved for the community (20% for the Foundation and Community).

State of the Project: 4/10

The project is still pretty far from a Mainnet release (Q2 2019). Also, since the Lambda team doesn’t have a GitHub and don’t share updates with their community, its hard to see if they’re on track with their roadmap.

Market: 6.4/10

The Database-as-a-Service industry is substantial and very fast growing and it can benefit from the features of blockchain. However, there are already many blockchain-based project (Filecoin, Sia, MaidSafeCoin, Storj, etc.) that offer very similar products to Lambda’s, so it will be hard to gain market shares.

ICON score: 6.2/10

 

Conclusion

At Icon Partners, we find Lambda to be an interesting project. Indeed, their mix of sharding and multi-chain architecture allows them to achieve an impressive level of scalability, which is something most blockchains currently lack. However, they are still in the early stages of the project, so these features have yet to be proven. The lack of communication between the team and their community also doesn’t look good on that front. On the other hand, Lambda has a very solid team that can most definitely deliver all the features mentioned in the whitepaper. This will be necessary, especially if they intend to become an important player in the blockchain-based Database-as-a-Service market.

We encourage you to do your own research and come to your own conclusions when investing in an ICO. All the information in this review are either facts or ICON Partners’ opinions and should not be used as investment advice.

 

 

Links

Website
Whitepaper
Telegram
Twitter
Facebook

 

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.