RaiBlocks: Doing Blockchain Justice!

RaiBlocks: Doing Blockchain Justice!

The Blockchain Technology is already decentralized. It has disrupted multiple sectors such as Health, Tourism and even E-Governance. For a group of individuals to come together and think, not just outside the box, but to also change the box into a different object all together, makes one sit up and pay attention.

RaiBlocks, has a motto. ‘Do one thing, do it well’.  With this intent in mind, the group of professionals behind it, have created an entire Block lattice of different Blockchain for every account.

Keeping Bitcoin in its crosshair, RaiBlock aims to cover the discrepancies which Bitcoin suffers from ie. efficient, viable alternative to fiat currencies.

Must Read: Best Cryptocurrency Trading Apps 2018

RaiBlock: Blockity Blocks!

Blockchain Technology aims at having a decentralized approach as far as the verification of a particular transaction is concerned. This is known as Proof of work. Hence, when simultaneous verifications take longer time (as is evident in Bitcoin) RaiBlock tweaked this concept and provided every account its own Blockchain. This way, whenever a transaction is needed to be verified, account holders are allowed to update it asynchronously as compared to the rest of the network, resulting in fast transactions with minimal overhead. The account block is 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

RaiBlocks also offers the following features:

  • ZERO FEES

Bitcoin, Ethereum etc. are some of the cryptocurrencies that initially took a limited sum as transaction fees. With RaiBlocks, zero fees is demanded simply because the protocol on which it operates is incredibly lightweight and nodes that are running technically cost them pittence.

  • INSTANTANEOUS TRANSACTION SPEED

RaiBlock offers its account holders wallet with the ability to pre-cache the anti-spam Proof of Work that is required for the next transaction, at the exact time when a transaction is sent. This makes transactions instantaneous, as both sides have the proof of work ready. The intention behind this process is to prevent transaction spam and increase the speed.

Must Read: Tron: The New Super Cryptocurrency!

RaiBlock: The Currency

RaiBlock are not mined. Funds that were initially distributed via a captcha-based faucet distribution system, which has since ended in October 2017. If there are any sites that claim to mine RaiBlock, do note, that they are mining either Monero or any other crypto, which will then be used to trade and invest in RaiBlock. It is traded in:

  1. Mercatox
  2. Bitgrail
  3. BitFlip

More exchanges are currently under negotiations to trade RaiBlock.

It also has 2 different types of wallets, desktop and online. The details on how you can use them are mentioned below:

  • The desktop wallet can be downloaded from the RaiBlocks website.
  • An open source, online wallet is located at raiwallet.com

In Conclusion

RaiBlock is not just another cryptocurrency. It has the potential to rise above the titans of the cryptocurrency world and make a space for itself. Keep your eyes open for this one folks.

Next Read: 5 Tips For Blockchain Neophytes

A traveler who has eaten with Bedouins, gotten lost in mist, and walked a kilometer to get net connection. When not writing, Nisha reads tech magazines to shampoo bottle labels

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