Tag: greenlight

Students at Texas-based University Accorded with Blockchain-Powered GreenLight Credentials

The University of North Texas (UNT) in Dallas has unveiled GreenLight Credentials, a blockchain-enabled academic records verification platform, for its students, giving them more control of their transcripts. 

Student empowerment via blockchain

Through this strategic collaboration, UNT Dallas students will be able to easily share their academic credentials quickly and securely across the globe. Additionally, transparency is granted because the transcripts and other verified records are kept in a decentralized system. 

Bob Mong, UNT Dallas President, noted, “GreenLight puts the power directly in the hands of our students. […] Students are now just a click away from instantly accessing their transcripts around the clock. We are proud to be the first four-year university in the nation to partner with GreenLight, and we’re excited to bring the simplicity and convenience of this resource to our UNT Dallas students.”

Fraudulent academic credentials have been rising at an alarming rate to the extent that employers hire third-party verification companies to authenticate documents. This is a time-consuming and expensive process because it involves requesting confirmation from the respective college or university about the enrollment of the particular student. 

By leveraging on blockchain technology, UNT Dallas seeks to eliminate this hassle by giving more power to its students over their academic records. 

Blockchain-enabled recruitment

The blockchain-based GreenLight platform will also be instrumental in enabling enrollment officers at UNT Dallas to find and recruit learners from community colleges and high schools efficiently.

Blockchain solutions are being embraced across different spectrums. The education sector is not an exemption, as evidenced by the urge to eliminate fraudulent academic documents by institutions of higher learning like UNT Dallas. 

Recently, the Harvard Blockchain Lab applauded Fight to Fame Model for presenting a notable decentralized ecosystem in the entertainment industry. HashCash Consultants has also shown its intention of streamlining the complex process of drug research and clinical trials with blockchain. 

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Blockstream's Greenlight Officially Launches, Promising Simplified Lightning Operations

Blockstream, a leading player in the blockchain arena, has officially rolled out Greenlight, its innovative Lightning-as-a-Service (LaaS) solution to the global market on October 12, 2023, following an initial reveal in June. This marks a significant stride towards simplifying the operational intricacies associated with Lightning network node management, while not compromising on user security.

The fundamental aspect of Greenlight is its ability to offload the cumbersome task of operating a Lightning node onto Blockstream’s seasoned experts, thereby allowing developers to retain control over the keys for heightened security. This strategic move is aimed at reducing both the risk and liability associated with holding user funds, and liberating essential resources previously dedicated to node operations. As a result, businesses and developers can channel their focus towards their core operations and app development.

The traditional dilemma faced by users and developers in the Lightning ecosystem is the trade-off between convenience and self-custody. While custodial solutions present a smooth onboarding experience, they often fall short on delivering basic security and privacy assurances. Conversely, non-custodial solutions, despite being secure and private, demand a higher degree of technical and operational expertise, coupled with additional costs. Greenlight is engineered to dismantle this entry barrier without sacrificing security, performance, or functionality.

Greenlight’s approach is to fragment the Lightning node into smaller, independent components. The Core Lightning implementation, known for its modularity and leanness, runs on Greenlight, keeping all key-related operations confined to the signer. This setup enables the signer to operate on the user’s device, while the rest of the node, along with its operational requirements, are managed on Blockstream’s infrastructure. This bifurcation resembles the operational model of contemporary hardware wallets, where the user interfaces with a client and signer, while the wallet provider manages the actual Bitcoin node connecting to the network. In this scenario, only user-controlled components are authorized to initiate payments and sign invoices, with Blockstream efficiently managing the resource-intensive node.

Greenlight’s deployment can potentially save substantial operational costs for businesses building on the Lightning network. By transferring laborious node operations to Blockstream, companies can gain valuable time to cater to their users’ needs better. Moreover, going non-custodial exempts developers from the fiduciary responsibility of holding user funds, thereby reducing compliance and regulatory expenses.

The service extends various features including trustless and self-custodial operations, managed nodes available on-demand, flexible liquidity management, cost-effectiveness, scalability, and no restrictive boundaries, ensuring an up-to-date and compliant adherence to Lightning protocol specifications. Real-world implementations of Greenlight can be seen in the newly updated Blockstream Green wallet and the market-ready Breez SDK.

Greenlight is accessible via self-service certificates in the Greenlight Developer Console (GDC), offering a generous free plan to cater to hobbyists, enthusiasts, and small businesses. This free plan supports the deployment of up to 1,000 on-demand nodes, with each node designed to activate and remain operational as long as it’s being utilized by an end-user.

The formal introduction of Greenlight by Blockstream is a notable development in the blockchain space, promising a simplified, secure, and efficient solution for Lightning network operations. It not only aids in overcoming operational hurdles but also paves the way for enhanced focus on business and application development in the rapidly evolving Lightning network ecosystem.

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