There’s been a couple of new cryptos that have found their way into the top 20 recently.
XRB debuted in March 2017 and traded for less than a penny into March. Then it spent a considerable time trading under $1 until this December. Now it trades for around $28 and sports a market cap of $3.8 billion.
RaiBlocks is designed to be a scalable and efficient distributed ledger platform. It improves over existing systems to give users a system where you can process transactions in seconds, making it very useful in a digital world. It’s similar to IOTA, but with a different design.
Per the White Paper (try here and here, RaiBlocks applies an optimization borrowed from concurrent computing where shared state is replaced with message passing. It eliminates shared state contention which improves throughput and lowers transaction times.
Like many blockchain projects today RaiBlocks is attempting to solve the scalability and mining energy costs problems with its design.
RaiBlocks does this by implementing what they call a “block lattice” crypto architecture. You can read this wiki on it, but basically, instead of using one continuous blockchain, in RaiBlocks each account has its own blockchain.
For consensus RaiBlocks uses a confirmation system based on representatives. And the representative system acts to prevent double-spending on the network.
The benefits of the RaiBlocks structure is that it will have zero fees, instantaneous transactions, and scalability. That’s the trifecta in crypto.
Here’s a look at XRB’s performance.
There’s a total of 133,248,290 XRB tokens which were distributed via a faucet distribution system that ended in October 2017.
Each XRB represents 1 million xrb (Mxrb), which is 10^30, the smallest unit of RaiBlock. So 1 XRB = 1 Mxrb.
What you need the token for, I’m not sure yet.
That’s a quick overview of RaiBlocks. What’s your thoughts on whether or not this project will be successful?