What is Raiblocks?
Raiblocks is yet one more exchange platform for cryptocurrencies that is based on blockchain technology. As of now it is in Node Version 8.0 with 4,407,264 Blocks and they claim that distribution is complete. Raiblocks is designed to help make scalable, instant transaction from the ground up with zero transaction fees.
How Does Raiblocks Work?
As of November 24, 2017 – Raiblocks has made an announcement for the following months. The first major announcement is that they’ve completed editing and revising the new whitepaper for Raiblocks. And at the company website, nearly every answer you could have about the system is there, answered in full. Your Raiblocks questions will be answered. We will cover some more of bigger questions on here as well.
Raiblocks is designed to be an abstract new system for distributing cryptocurrency. As of recently, there has been a very high demand for scalability while making crypto exchanges, unfortunately, as of late, these transactions have started to get increased transaction times and fees when talking about the popular cryptocurrencies. And for many crypto-users the results are highly unsatisfying and even down right negative in their eyes. The experience s is leaving a bad taste in the mouths of many people.
That is why they are now releasing Raiblocks – a cryptocurrency currency based platform that with a newly designed, block-lattice structure in which every individual account has its own blockchain. They claim this makes for near instantaneous transactions that work at lighting speeds and have scalability with no cap.
Every user has their own unique blockchain, letting them update it asynchronously with the entire network. Apparently, the results are fast transactions with minimal overhead. The Transactions keep track of account balances instead of the amount of each transaction. It makes for highly aggressive database pruning that will never compromise security.
As of now, the Raiblocks network has completed and processed over 4.2 million transactions with an uncut ledger size of a mere 1.7GB. Raiblocks is one of the first feeless, split-second transaction sites to make a breakthrough appearance in the cryptocurrency spotlight. They are solely to aiming to help consumer transaction be more viable in the future.
What Is The ICO On Raiblocks?
As of now there is no ICO on Raiblocks, it is simply an exchange network that is feeless. That’s not to say there is not a Token for the system being developed that hasn’t been announced yet. Distribution of the system was completed in October of 2017. There core wallet was optimized and expanded with an RPC protocol and back-end testing was done for the mobile wallet. User guides were released on social media platforms as well as the localization of content.
In November the standardized QR code was updated for desktop wallets UI. Also, an Alpha test was done with the mobile wallet UI to create a legal Raiblocks entity. They published a brand-new website as well and released their 3rd exchange listing for high-volume transactions on their newly developed architecture or PoW.
In December a new Beta test will be completed for mobile wallet releases. And the 4th exchange listing is also being released along with in-depth development of merchant services and new partners joining the entity.
In the future of 2018, they will develop a new Light Wallet Add Chain. They claim this will significantly cut the chain size. And there will be enhanced features for the purpose of exploring blockchains. More exchanges will also be released as well.
Who Is Behind Raiblocks?
The website and system were copyrighted to Raiblocks in 2017.
Apparently, the company has already performed millions of successful transactions. If they keep up the work they are performing, increase transfer times and can continually lower fees, then they will surely stay in crypto-game. The main aspect is, users can verifiably see and explore blockchains in completion.