Posted on April 2, 2018
RaiBlocks is a trustless, low-latency cryptocurrency that utilizes a novel block-lattice architecture, where each account has its own blockchain and achieves consensus via delegated Proof of Stake voting.
Each account has its own blockchain (account-chain), equivalent to the account’s transaction/balance history. Each account-chain can only be updated by the account’s owner; this allows each account-chain to be updated immediately and asynchronously to the rest of the block-lattice, resulting in quick transactions.
Since blocks can only be added by each account-chain’s owner, transferring funds from one account to another requires two transactions: a send transaction deducting the amount from the sender’s balance and a receive transaction adding the amount to the receiving account’s balance. The receive transaction can be performed at any time; the recipient does not need to be online during the send transaction.
The total circulating supply is 133,248,289 XRB, which will never increase.
– There are no transaction fees
– The transactions are instantaneous
– The RaiBlocks network has unlimited scalability due to it’s block-lattice architecture
– XRB is only traded on second-tier exchanges
– There is no hardware or mobile wallet yet
– It has a lot of competition because it only aims at being a currency (like bitcoin)
The RaiBlocks network has been up and running since October 2015.
In 2018, RaiBlocks intend to develop a Light wallet, add chain pruning to reduce chain size, create an enhanced block explorer and be available on more exchanges.
The voting process is balance-weighted. Every account selects a wallet address of a representative node. This is just a node that is configured to stay online and be ready to vote. When an account selects their representative, the vote weight of that account is increased by the balance of the source account.
Votes are weighted by account balances. Those who have more funds in the system are inherently incentivized to keep the system honest; a dishonest system would make their investment worthless.
RaiBlocks is similar to IOTA since they both offer an alternative architecture to the standard blockchain.
RaiBlocks will announce their partnerships in the first quarter of 2018.
XRB is not yet traded on any of the main exchanges (Poloniex, Bittrex, Binance, Kraken).
Without being a blockchain, RaiBlocks has the same functionality as a blockchain layer.
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations