Lightstreams is a blockchain network that will enable for a range decentralized use cases.
With a peer-to-peer storage that supports privacy between participants Lightstreams aims to open up the possibility for more complex Decentralized Apps (DApps) than currently achievable.
Lightstreams will use a Token Curated Governance system such that token holders collectively curate a constitution and associated by-laws in order to maintain a stable network for the users of the network.
The Lightstreams network consists of an independent Ethereum-compatible blockchain. Instead of Ether as the native currency, Lightstreams will operate via its own native token that has a unit value called a Photon (PHT).
Applications built on top of the Lightstreams network may wish to integrate their own token using an ERC20 contract or similar.
The utility of the PHT token will be:
- To pay for transaction fees.
- For purchasing digital content.
- To participate in governance of the network.
Using a system of staking tokens, network participants will be able submit proposals to amend the network protocol. Proposals will be voted upon and successful approvals will be implemented through coordinated software upgrades by special network nodes called Authority Nodes.