Lava Network illuminates the blockchain landscape

Lava is the first modular data access layer for blockchains, introducing specs that allow contributors to add support for new chains and data services.

With Lava, users get fast, reliable access to more than 30 chains. The protocol incentivizes providers to offer high performance and matches consumers with the best available node. Providers join Lava to reach more developers and monetize their infrastructure. Lava also runs programs where chains like Evmos, Axelar, and NEAR pay node operators to deliver quality RPC.

Lava provides Multi-Chain RPC that just works:

  • Quality of Service: consumers monitor and rate providers based on response time, availability, and data freshness. Providers must attach their QoS score when asking for rewards and are rewarded based on their performance.
  • Data Reliability: providers undergo fraud and fault detection checks. The network compares responses from multiple providers using statistical methods and random selections. If a conflict is detected, the network relies on an honest majority to identify the offender and penalize them.
  • Privacy & Anonymity: relays are randomly distributed among top providers, so consumers rarely get service from the same provider for long. Communications happen directly, with identities not linked to Lava Wallets.
  • Scalability: Lava is built for scalability with a single-step reward system, aggregation, direct provider-dApp communication, and staking incentives to improve efficiency and reduce network stress.
  • Decentralized Access: users are encouraged to access the network in a fully decentralized way, with all relays conducted peer-to-peer (P2P).
  • Open Source: Lava is committed to open source and modularity, allowing developers to review the code for the chain and any implemented specs.

Key information

🌟 Supply & Tokenomics: total supply is 1 billion $LAVA tokens

$LAVA is the native digital asset of the Lava Network and is central to its economic model. It is used to pay gas fees for transactions, serves as a governance token for participating in network decisions, and is distributed as rewards to validators, providers, and contributors. The decentralized decision-making process of the Lava Network gives token holders control over key aspects of the network. Deflation mechanisms include a burn range and automatic burns to manage inflation. The public allocation will be fully unlocked at launch, except for the rewards reserve, which will unlock continuously from launch until the end of year 4.
👥 Economic Actors & Roles:
– Consumers use $LAVA tokens to buy Subscription plans, accessing diverse APIs via the Lava Protocol.
– ‘Specs’ are modular objects defined by governance, dictating provider API support.
– Providers stake tokens on specs for service integrity, routed via stake-weight mechanism.
– Validators secure the network by staking tokens and participating in governance.
– Champions create and maintain specs, earning rewards, and contributing to the community.
– Chains deposit token incentives to reward providers for offering specs.
🌋 Magma Points
Separate from LAVA tokens, there is a reward for loyal community members. Users earn points by utilizing Lava-powered RPC with partner chains.

Lava Network raised $15 million in their seed round to build the modular data access layer for Web3.

While Celestia and Dymension focus on Data Availability, Settlement, and Consensus, Lava provides the Access layer for developers and users to send and retrieve data from any blockchain. Blockchains and infrastructure can be very technical, but Lava is designed so everyday users don’t need to run nodes to participate and help scale crypto. Anyone can earn points by connecting their wallet to Lava and using it as usual.

How to start earning points ?

Simply by changing your wallet connection to Lava, you can earn points. This includes actions as simple as checking your wallet balance, which involves an RPC call, to making transactions.

  1. Connect your wallet to the points dashboard (code : MAGMA)
  2. Swap the RPC URLs in your wallet to the Lava-powered URLs on NEAR, Ethereum, Axelar 
  3. Use your wallet and dApps as usual to earn points.
  4. View the leaderboard to check your ranking
  5. Share your referral code on social media to earn more points

Changing your RPC connection in Ethereum wallets

  1. Open “settings” and navigate to “Networks
  2. Ignore the existing Ethereum Mainnet network and click “Add new Network
  3. Select “add network manually
  4. Copy your Ethereum Mainnet endpoint from your Magma Points dashboard
  5. Paste the endpoint into Metamask and add the following details :
    Network Name = Lava Ethereum
    New RPC URL = [the endpoint in your Lava dashboard]
    Chain ID = 1
    Currency Symbol = ETH
  6. Switch to your newly Lava Ethereum connection and use your wallet as normal to start earning points

Changing your RPC connection in Cosmos wallets (Leap and Keplr)

Let’s use Keplr Wallet for Axelar as an example:

  1. Open your wallet and go to SettingsAdvanced.
  2. Click Change Endpoints and select Axelar.
  3. Copy the Axelar endpoint from the Lava Points dashboard.
  4. Replace the default RPC URL with the Lava-powered RPC.
  5. Click Confirm.

Now, use your wallet as usual to earn points by checking your balance, making transactions, and accessing Web3.

Changing your RPC connection in NEAR wallets

Let’s use Sender Wallet on NEAR as an example:

  1. Open your wallet and go to SettingsNode RPC.
  2. Click on NEAR Mainnet.
  3. Go to the Lava Points dashboard and copy the NEAR endpoint.
  4. Return to your wallet’s settings and navigate to Node RPC.
  5. Click the “+” button and paste the NEAR RPC URL into your wallet.
  6. Press Confirm.

Now, you can use your wallet as usual to earn points!

Lava manages a decentralized network of RPC node runners, eliminating a single point of failure. This ensures a more resilient connection to the blockchain compared to other providers prone to DNS hijacking and downtime.

Changing your wallet’s RPC endpoint with Lava doesn’t grant wallet or transaction signing permissions, ensuring the security of your funds. Lava simply facilitates data retrieval for displaying balances; your funds always remain on the blockchain.

Stay tuned for the upcoming launch of Lava Mainnet, featuring additional incentive pools for stakers.

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Read our Lava Orange paper