Lambda LAMB to Paxos Standard PAX Exchange

Crypto Pair Details: LAMB to PAX

Lambda LAMB

Lambda is a fast, safe, and scalable blockchain infrastructure project, which 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, PDP, and distributed intelligent computing through logic decoupling and independent implementation of Lambda Chain and Lambda DB. Through the logical decoupling and separate implementation of Lambda Chain and Lambda DB, we provide infinitely scalable data storage capabilities to decentralized applications and achieve Multi-chain data cooperative storage, cross-chain data management, data privacy protection, data ownership proof, distributed intelligent computing and other services. Additionally, as the underlying service of blockchain, Lambda Chain provides millions of requests per second (RPS) through Sharding technology, which can grow as the scale of the system expands; and it also offers technology service capabilities for future unlimited expansion through sub-chain technology. We believe that all storage projects follow the core requirement of Provable Data Integrity.Also, it is crucial for data projects to store data in an infeasible storage node and make them trusted and secure, in the academic world, there are mainly two approaches which are Provable Data Possession (PDP) and Proofs of Retrievability (POR) depending on the usage scenarios. Lambda has applied these two approaches in blockchain through academic research and engineering verification, which has eliminated the core obstacles of decentralized storage.

Paxos Standard PAX

Paxos Standard (PAX) was created by Paxos, a financial technology company on a mission to modernize finance by mobilizing assets at the speed of the internet. Paxos was the first virtual currency company to receive a charter from the New York State Department of Financial Services. As a chartered limited purpose trust company with fiduciary powers under the Banking Law, Paxos is able to offer regulated services in the crypto-asset and virtual commodities space. The Paxos team comes from a wide variety of backgrounds with a diverse array of experiences ranging from Wall Street to Silicon Valley. It’s led by CEO and co-founder Charles Cascarilla, who has spent his career as a customer, analyst, investor and now creator of financial technology. Paxos describes itself as “the first regulated Trust company with blockchain expertise”, and it is using that expertise to create a modern settlement solution that can eliminate risk and simplify settlements. What many people may not know about Paxos is that it was actually founded in 2012 as Paxos Trust Company, and that for most of its life it ran the cryptocurrency exchange itBit, which is still operates. The creation of Paxos was a pivot from an exchange platform to a company focused on creating a modern settlement platform using blockchain technology. Paxos has become the most widely adopted cryptocurrency in the fastest time frame, with support from over 20 exchanges and OTC desks in the first five weeks of its existence. It’s been picked up and listed by six of the top ten cryptocurrency exchanges, Binance, OKEx, Gate.io, ZB, KuCoin and DigiFinex. These exchanges are offering PAX as an alternative to the controversial Tether. Unlike the controversy surrounding the people who control Tether, there is no such obscurity when it comes to the people behind Paxos. The CEO and co-founder is Charles Cascarilla. He has over 15 years in financial services and has co-founded Cedar Hill asset management back in 2005. He has also worked and Bank of America and Goldman Sachs prior to that. The Paxos Standard (PAX) is the first digital asset to be issued by a financial institution and to be fully secured by the U.S. dollar. While other similar stablecoins have existed, there has been no proof of full U.S. dollar reserves, nor have these earlier assets been issued by a financial institution. The Paxos team has been fairly clear in declaring the different base that PAX is working from.

SOURCE: COINGECKO

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