Skip to content

2021 Luniverse Annual Report

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

Introducing Luniverse, our enterprise-ready technology solution

Hosted by Lambda256, Luniverse is a distributed ledger framework for organizations to build, deploy and manage their businesses seamlessly using blockchain. Our managed blockchain-as-a-service platform integrates graphical interfaces and APIs, enabling organizations to create tokens, as well as implement and manage blockchain networks at scale by eliminating the barrier to entry for blockchain and Web3 development.

Why is a Layer 2 Protocol needed?

A Layer 2 network protocol forms the backbone of Luniverse’s blockchain architecture, where it consists of a main chain and sidechains designated to businesses (clients) attached to the parent blockchain. A Layer 2 blockchain technology, or an “off-chain” solution, has a competitive edge over the public chain for the following: 

1. Provides an independent chain ecosystem 

  • The public chain consists of numerous dApps (Decentralized Applications) that coexist on a single chain, in some cases leading to delayed transactions and service failures. The public chain is also subject to the issue where all contracts must be disclosed, even those that are deemed to be confidential or an integral part of a company’s technological prowess. 
  • Luniverse addresses this issue by providing each dApp client with an independent sidechain environment. This eliminates issues central to the public chain such as transaction delays, and guarantees a Service Level Agreement (SLA) of 99.9%. Most importantly, a private blockchain environment ensures that the services can be operated while protecting technology central to businesses.
2. Reduced operation and transaction costs 
  • High gas fees for Ethereum have been some of the biggest challenges for businesses operating on the public chain. Ethereum transactions have increased 140x from $0.50 to $71.72, making it difficult for service providers to operate, therefore leading some to migrate their internal traffic off-chain.
  • On its main network, Luniverse provides services with fees just 1/1000 of that of Ethereum, with gas fees (LUK) fixed at 0.01 USD. No additional transaction fees incur on its independent sidechains, and a predictable pay-as-you-go model is implemented for blockchain service operations, tailored for each amount of traffic.
 
    1.  
Data collected: Launch of Luniverse ~ May 31, 2021 

[Luniverse Ecosystem in Numbers]

– Number of companies: 2,558

– Number of sidechains : 182

– Total number of decentralized applications: 1,184

– Total number of tokens: 1,038 *combined number of tokens created on both main and sidechains 

– Number of active tokens: 107

 

[Luniverse Technology in Numbers]

– Total number of blocks on Luniverse: 61,745,312

– Total number of transactions: 19,793,422 *combined number of transactions on main chain and sidechains

– Total DEOA(Delegated EOA) : 2,116,584 *Externally Owned Accounts where Luniverse manages private keys

– Average block time: 1.04

– Number of custom contracts: 3,488

– Number of on-chain error: 0

Luniverse’s ecosystem index has seen a steady growth from the year before. Some of the key highlights include the number of enterprise customers, which has more than doubled from the year before –driving the overall rise in the ecosystem and technical indicators. 

A key area of focus this year was the digital asset market, where various inquiries regarding applying blockchain to various businesses were received. To meet such demand, Luniverse has been releasing new products such as Trace, DID, Point, and NFT, all of which are blockchain-based application services that has garnered popularity for business use. 

Luniverse has maintained an average block generation time of 1.04 seconds, and the number of blocks generated accordingly has exceeded 61 million. In addition, the combined number of transactions that occurred on the main chain and side chains exceeded 19 million. In particular, the number of DEOA (Delegated EOA) exceeding 2.1 million is a significant indicator of the increase in the number of general users participating in the Luniverse ecosystem. This meaningful growth is mainly due to the increase in the number of Luniverse customers and the active participation of decentralized apps (DApps) in the Luniverse ecosystem.

Along with this growth, one of our biggest milestones was that the chain has been operating reliably for more than two years without any disruption to service. Providing a secure and reliable service network is our utmost priority, so that companies around the world can leverage blockchain easily with our platform.

Growth rate of Luniverse vs. Ethereum 

Ethereum growth rate

Ethereum, one of the oldest and most established blockchain platforms, has had an average transaction of 42 million in Q3 2021, upwards of 20% from 34 million in Q3 2020. While Ethereum continues to face scalability issues, high transaction fees and slower transaction rates, it still holds record-breaking traffic as the DeFi market and NFT market rapidly expands. It also hopes to get an upgrade with EIP-1559 proposal that would make Ethereum transaction fees less volatile and more predictable. 

In the third quarter of 2020, Luniverse had an average monthly transaction of 370,000, and in March, April, 2021, the average monthly transaction was 3.35 million, an 890% increase from the previous year. Although the volume of traffic is comparatively low, our mainnet traffic is growing rapidly as various dApps of Luniverse are activated.

The number of Ethereum DApps is based on statistics provided by the dApp ranking platform “State Of the dApps.” As of May 2021, there are 2,811 dApps on Ethereum.

Luniverse dApp refers to defining APIs and resources that are required to perform various functions for specific apps (Web Applications, Mobile Applications, Desktop Applications) using contracts or tokens on the blockchain. As of May 2021, Luniverse has 1,184 dApps on its network.

For example, if “dApp A” needs a function to record and search data on the blockchain, it is implemented as “dApp A” on Luniverse. After that, one can easily apply blockchain to existing apps using the functions provided by “dApp A.”

Top 5 dApps (decentralized Apps) on Luniverse

The number of transactions is a key indicator of the degree of activation of chains and dApps. So, let’s find out which project recorded the highest number of transactions on the Luniverse Chain.

Our TOP 5 dApps are based on the number of transactions on the “Main Chain,” as well as “Main Chain + Sidechain”. We plan to publish a regular report that indicates and ranks the number of dApp transactions by processing public on-chain information. This could be a key indicator that enables the degree of activation of dApps.

TOP 5 dApps on Luniverse

  • Criteria: number of transactions on the mainchain + sidechain
  1. Ziktalk
    • ZikTalk is a social networking service for learning and teaching foreign languages, with 650,000 users worldwide. A blockchain-based ZIK token is used when using functions such as video calls, chatting, social feeds, and following through the mobile-based ZikTalk application.
    • Find out more about the dApp
  2. Milk
    • Milk is a platform app that connects various services through points. With established partnerships with leading companies in each sector such as Yanolja, Shinsegae Duty Free, Megabox, and Jin Air, it has secured about 900,000 cumulative users, growing rapidly as an IT service. Luniverse and Milk plans to continuously increase user benefits by adding partnerships with various domestic and foreign services and upgrading the app’s functions.
    • Find out more about the dApp 
  3. Berry
    • Influencers can share their treasured items, products, or even talent with the general public in the Berry Store. In addition to trading goods and talent, users can receive financial compensation by participating in various events, contributing to content, and sharing on social media.
    • Find out more about the dApp
  4.  Cherry
    • ‘A Good Day for Donation, Cherry’ started as a national project supported by the Ministry of Science and Technology, and is currently raising about 1.7 billion won in donations for 17,000 members with 200 organizations and transparently through blockchain technology. We are creating a new wave in the culture of giving.
    • Find out more about the dApp 
  5. Aha
    • Aha Q&A Project is a professional knowledge Q&A service that allows you to ask questions and receive answers from verified experts. Professional answerers of Aha Q&A are rewarded with digital asset Aha tokens through various knowledge sharing activities within the service, creating a world where knowledge could receive monetary compensation.
    • Find out more about the dApp 

TOP 5 dApps on Luniverse

    • Criteria : number of transactions on the main chain
    1. Milk
      • Milk is a platform app that connects various services through points. With established partnerships with leading companies in each sector such as Yanolja, Shinsegae Duty Free, Megabox, and Jin Air, it has secured about 900,000 cumulative users, growing rapidly as an IT service. Luniverse and Milk plans to continuously increase user benefits by adding partnerships with various domestic and foreign services and upgrading the app’s functions.
      • Find out more about the dApp
    2. Aha
      • Aha Q&A Project is a professional knowledge Q&A service that allows you to ask questions and receive answers from verified experts. Professional answerers of Aha Q&A are rewarded with digital asset Aha tokens through various knowledge sharing activities within the service, creating a world where knowledge could receive monetary compensation.
      • Find out more about the dApp
    3. Ziktalk
      • ZikTalk is a social networking service for learning and teaching foreign languages, with 650,000 users worldwide. A blockchain-based ZIK token is used when using functions such as video calls, chatting, social feeds, and following through the mobile-based ZikTalk application.
      • Find out more about the dApp 
    4. Berry
      • Influencers can share their treasured items, products, or even talent with the general public in the Berry Store. In addition to trading goods and talent, users can receive financial compensation by participating in various events, contributing to content, and sharing on social media.
      • Find out more about the dApp

         5. Publish

      • PUBLISH provides blockchain-based digital solutions for media companies. It is a blockchain-based news ecosystem solution with the goal of strengthening the ecosystem of small and medium-sized media companies, readers, and advertisers who participate in the creation, distribution, and delivery of news and original digital content.
      • Find out more about the dApp

    Luniverse Milestones

    May 2018: Launched as a blockchain research unit of Dunamu, one of the world’s largest cryptocurrency exchanges by volume

    Sep 2018: Luniverse announced at UDC 2018

    March 2019 : Lambda256 forms an independent entity to focus on blockchain platform business

    May 2019: Luniverse blockchain service officially opens

    July 2019: Luniverse Scan opens

    December 2019: Announcement at AWS Re:Invent 

    February 2020 : Luniverse DROPS launched

    March 2020 : Luniverse Hyperledger Fabric officially launched

    April 2020 : Luniverse Service Site 2.0 opens

    June 2020: KRW 8 billion series A funding

    July 2020: Reaches over 1,200 corporate clients

    October 2020: Luniverse Loyalty Point launched

    December 2020 : Luniverse Trace launched

    February 2021: Reaches over 2,000 corporate clients

    March 2021 : Luniverse DID launched

    March 2021: Completion of KRW 17 billion ($15 million) series A funding 

    March 2021: Reaches over 2,500 corporate clients

    August 2021: Luniverse 2.0 released(NFT, Hyperledger Besu)

    Share your blockchain-related digital insights with your friends

    Share on facebook
    Facebook
    Share on twitter
    Twitter
    Share on linkedin
    LinkedIn

    Get more insights

    RegTech – Key Takeaways from #UDC2021

    Here are the key takeaways from the #UDC2021 keynote highlighting Luniverse 2.0 as the leading blockchain solution provider for RegTech.

    Smart Contract Audit

    The Importance of Smart Contract Auditing and General Process of How Smart Contract Audits are Conducted

    Cryptography 101: Diffie-Hellman Key Exchange Protocol

    Diffie-Hellman key exchange process

    Cryptography 101: RSA Algorithm

    How the key pairs are mathematically derived with application of RSA algorithm