How does Lambda work?

So, how does Lambda actually work? Can you walk us through the technicalities of how it processes transactions, the role of smart contracts, and how it manages to achieve the scalability and decentralization that it claims to have? Is there a specific consensus mechanism in place, or does it employ a novel approach? Also, how does Lambda address the issues of security and privacy, ensuring that users' transactions and assets remain SAFE and untampered with? And lastly, how does it differentiate itself from other cryptocurrencies and blockchain platforms in the market?