Bitcoin changed everything. The first ever decentralized, anonymous cryptocurrency which started the war against the current centralized financial system. During the initial years, very few people actively developed, traded or used Bitcoin, but come 2016, everything changed. Millions have joined the cryptocurrency bandwagon, bitcoin became famous and then the price increased or we like to call, reached the moon.
While this happened, bitcoin went from being a means of faster and anonymous exchange to a store of value whose price is volatile and kept increasing. Then came some forks which call themselves the original bitcoin(Hello, BCH), but failed to attract either the developers or the adopters. There is now a genuine need for a faster, simple payment solution. Ripple seemed to be promising, but it’s centralized, that alone would be a Hell No for 50% of the cryptocurrency community.
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There are a bunch of other altcoins which are based on the bitcoin type blockchain and so do have similar limitations as Bitcoin.
RaiBlocks(XRB) came up with a decentralized, anonymous cryptocurrency with a new type of architecture called block-lattice where each account has its blockchain resulting in the split second transaction speed and very high scalability. The white paper mentions the updates are faster because “Each user has their own blockchain, allowing them to update it asynchronously to the rest of the network, resulting in fast transactions with minimal overhead. Transactions keep track of account balances rather than transaction amounts, allowing aggressive database pruning without compromising security”. The white paper also mentions the technical details on how they were able to process 4.2 million transactions with a ledger of size 1.7GB.
Many investors and developers seem very excited about RaiBlocks Investments that it’s already the 19th largest cryptocurrency in terms of market cap and has over $3 billion in market cap. The price of the XRB token is currently at $28 and is one of the few cryptocurrencies which resisted the market downfall this week.
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The RaiBlocks seem to have a proper roadmap and a stellar product which is faster consumes lesser carbon footprint and is anonymous in every way bitcoin is. Currently, only one big exchange, KuCoin, (Disclosure – The hyperlink contains a referral link)supports the sale which is somewhat disappointing as it makes it difficult for the US and European investors to invest in XRB.
We’ll cover the actual RaiBlocks protocol and how the RaiBlocks XRB mining works in an extended post soon. Join our facebook group to discuss prices, market-changing news and risk assessments of various ICO’s.