Phonon Network
From CryptoWiki
Revision as of 14:17, 25 June 2019 by wiki_crypto>Zeb.dyor (→Basics)
Basics
- A scalable, off-chain, hardware-secured protocol for transacting with digital assets. The Phonon network can be thought of as an alternative Layer2 to Plasma and Lightning, with its main feature being the absence of nodes (and the fact that it is multichain).
That doesn't mean you don't have to trust anyone, because to achieve the ability to send directly from A to B without a node, they have used "secure" hardware in the form of cards. The quotes are used because it's hard to assess just how secure the hardware can be (even if their explanation seems plausible). It's a novel and, importantly, implementable idea that can generate a host of new use cases. Transaction fees are still a bit high for BTC (~$0.5), but reasonable for ETH.
- There is a concept of microPhonons.
Team, investors, etc.
- Released by Grid+
