Lambda is a blockchain infrastructure project which “provides decentralized applications data storage capabilities with unlimited scalability,'' according to the project’s whitepaper. 

Decentralized storage is Lambda’s primary focus and the platform uses a distinct consensus mechanism called Proof of Space Time (PoST) to offer a high level of data security. 

There are 5 major elements in the Lamba ecosystem: the marketplace, users, validators, storage miners and retrieval miners. The storage miners provide the storage space, for which they are rewarded, and the validators verify the data integrity. The users can rent services from the marketplace for which they will have to pay. Storage and retrieval miners also have to pledge a certain number of LAMB tokens in order to play the role. There is also a second token called the Lambda Space token (LAMBS) which represents pledged storage space.

Lambda recently launched the testnet version of the platform. Unfortunately, however, there is not too much in the way of how development is progressing. The project’s paper states performance optimization of validator storage verification, optimizing the consensus protocol and opening up a contracting capacity are some of the key areas being worked on.