About the companyLAMDEN
Based in Genève, Switzerland, Lamden is a developer devoted to helping its clients build and generate revenue from blockchain powered smart apps. These blockchain powered apps facilitate the process of recording transactions and tracking assets in a business network.
About the project
Lamden needed an Ethereum Proof-of-Authority Network application that could serve as a managed and decentralized ledger for USD tokens. Each of these tokens represents one U.S. Dollar in a Lamden business bank account. Users would be able to sign up and deposit funds into the platform. Proof-of-Authority (PoA) is an algorithm used with blockchains that delivers comparatively fast transactions through a consensus mechanism based on identity. In PoA-based networks, transactions and blocks are validated by approved accounts, known as validators.