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TL:DR – company has created a gasless blockchain, is it legit?
There’s a company called Redlight Finance who has come under fire recently when their ‘passive income’ oppotunity collapsed. If you don’t know last year saw 100s of degen money making pyramid called ‘nodes’, Redlight used their own version to fund their blockchain, which is fully gasless.
The guy who created it, apparantly in his early 20s had been working on it for several years, he went to M.I.T, which has been questioned. But why has no one else figured it out?
The team has since hired Simon Kertonegoro from Enjin and someone called Gosu. Aside from that the team keeps their income flows hidden behind NDA (their node project was said not to be ponzi as they had external inflows, that collapsed hence people losing money).
The team has promised partnerships to bring inflows in, they are releasing a game and have said the gaming market will need gasless. Again, I have no idea to these claims.
Anyway all I can find is WAGMI biased comments by people in the ecosystem but no objective reviews. People say gasless can’t be done, I’ve used their BC hundreds of times and paid zero fees but I’m not smart enough to question it or the company.
I’d absolutely love for someone to take a look at the companty or perhaps send me in a direction where maybe an honest youtuber can do a review. Seeing as it’s fully gasless, I’m shocked it doesn’t have much exposure. The BC recently came under mass attack but used something called ‘the pocket system’ which seemed to deal with it, I understand, this was one of the fears with gasless, that hackers could have unlimited resources (no gas) to attack a BC.
I don’t want to shill or post links but a quick google will take you to their homepage. Their discord is fairly toxic, fanboys, the usual so you can imagine if I asked their it would be ‘We’re gasless, wait until the world finds out’
My thoughts are the team are very unprofessional, have little experience in crypto as did most of these start-ups during the 2021 crypto run and used this to gain funds for the BC. After promosiing a whopping 400% return that failed, they are now giving investors a rebate, depending on how future partnerships go. Last month it was a $20, yes $20 rebate.
Thanks
They’re not the first chain to do zero gas fees. The thing is that it doesn’t work. You need a dynamic fee structure to stop spam. Aurora and every other smart-contract network that launched with zero fees ended up having to add fees to stop spam.
Nano has zero gas fees. It’s centralized as fuck though. Who would operate it for free?
With 0 gas fees you can get your chain spammed / ddosed to hell. Perhaps a chain which charges fees but pays back if not ddosed / spam, that would be interesting. However, how would node validators make money and what would be their incentives? These 0 fee chains make no sense.