The Internet of Things market is projected to explode in the next few years as an economic opportunity. This is partly because of major advances in AI and machine learning. They are making it possible to deliver transformative change with the aid of IoT devices. It is estimated that there will be over 50 billion IoT devices in the world by 2020. By the year 2025, the IoT industry is estimated to generate over $11 trillion in economic benefits.
However, there is a major issue right now. The current protocols and technology are unable to keep up due to a scaling issue. Besides that, there is the problem of interoperability because there are no set standards. Besides that, the machine-to-machine exchanges of today are still quite primitive.
It has been shown in history that centralization stunts growth and leads to a lot of unnecessary risks. This is where Railz comes in. It is a decentralized next-gen transactional protocol that has been designed with machines in mind. This project is designed with scale in mind. To achieve decentralization, the creators of the project relied on the Ethereum blockchain.
They have also incorporated a next-gen consensus algorithm that makes it possible for the machines to negotiate rather than simply agreeing or disagreeing. With this platform, it will be possible for IoT devices to self-configure themselves into a complex supply chain. The transmission protocol for Railz will be able to deliver 30 times more throughput thanks to the Ethereum network.
The Railz project utilizes two core technologies that make it possible for negotiations to occur at scale between devices.
Railz has created a proprietary protocol that delivers a high throughput on the Ethereum network at 30X during tests.
Railz has a consensus algorithm with a pending patent that moves beyond the common smart contract. It enables complex negotiations between machines. It also provides support for complex payoffs.
This is a utility token that will power the Railz network. The RLZ fractions will be called Rivertz. The token is Ethereum-compliant. It has fully implemented the ERC20 standards. Thus, it is compatible with the entire Ethereum ecosystem. Each time a machine-to-machine negotiation is completed, the Railz network will levy a charge in fractions of RLZ.
The ICO, Supply, And Allocation Of Tokens
There will be 2 billion tokens with 75 held in reserve. The rest will be offered for sale in three stages:
- Token Symbol: RLZ
- Token Standard:ERC 20
- Pre-ICO Series A – 30 million RLZ at 0.00006 ETH per token
- Pre-ICO Series B – 120 million RLZ at 0.00008 ETH per token
- Full ICO – 350 million RLZ at 0.000196 per token
- Soft Cap: 6,200 ETH
- Hard Cap: 100 Thousand ETH