RaiBlock--- Why you should invest in it? How RaiBlock works? Is it Next Bitcoin? MicroPayment?
What is RaiBlock?
Raiblocks (XRB) is an open-source programming venture and a shared cryptocurrency like Bitcoin. It is a low inertness and high-throughput digital money used in exchange affirmation. The only difference between RaiBlocks and other coins is that it does not require any exceptions equipment to mine, but it is rather conveyed through its fixture in light by guaranteeing and fathoming captcha. This makes XRB one of its kind token and platform. In Jan 2018, RaiBlocks is among the top 30 biggest cryptocurrencies in the crypto world.
How it Works
Like IOTA, RaiBlocks uses a directed acyclic graph algorithm, but instead of using DAG for the tangle, RaiBlocks employs its own novel tech called the block-lattice
The block-lattice infrastructure operates like blockchain but with a few key difference. To start, each account on RaiBlock’s protocol has its own blockchain called an account-chain. Only an account-chain’s user can modify his/her individual chain, and this allows each account-chain to be updated asynchronously of the rest of the block-lattice network.
In effect, this means that users can send and update blocks on their account-chain without relying on the whole network. To achieve this, any funds sent on RaiBlock’s block-lattice require two transactions: a sender transaction and a receiver transaction. In order for a transaction to be settled, the receiving party must sign a block confirming that the funds were received. If only the sending party’s block is signed, a transaction is pended as unsettled. All transactions are sent in User Datagram Protocol (UDP) packets, which keep computing costs low and allow senders to transfer funds even if a receiver is offline.
One of the block-lattice’s more attractive features is how its ledger handles and stores transactions. Each RaiBlock’s transaction is its own block, and each new block replaces the one before it on its user’s account chain. In order to maintain a proper account history, new blocks take a record of the account holder’s current balance and factor it into the processing transaction.
To illustrate this, if you were sending XRB to someone, the transaction is verified by taking the difference between the send block and your current balance on the preceding block. On the other end of the transaction, the receive block would then add the amount to its account chain’s preceding block. The end result is a new block that records the updated balance of each user.
Under this system, RaiBlocks keeps a record of an account’s balance on its ledger, not a full history of all transactions like traditional distributed ledgers. This means that the RaiBlocks network only has to keep a record of each account on its full ledger. Instead of maintaining a record of all prior transactions, the network only stores account balances.
If you haven’t grasped why this may present a solution to Bitcoin’s latency and scalability issues,
Is RaiBLock Decentralized
RaiBlocks has no central authorities managing transactions on the network and has had auto-peering since its release around September 2015. Therefore, we can deem it as being decentralized. The only area where I see a slight issue is in that of their representative system. This is a potential attack vector, whereby a malicious entity may buy up millions of dollars worth of XRB and carry out a voting attack. This scenario is outlined on their Attacks wiki. Granted, it is “low” risk as the malicious party would have to effectively forfeit large sums of money to carry out this attack, on the order of hundreds of millions of dollars or ~50% of the market cap, as of this writing.
Is RaiBLock Decentralized
RaiBlocks has no central authorities managing transactions on the network and has had auto-peering since its release around September 2015. Therefore, we can deem it as being decentralized. The only area where I see a slight issue is in that of their representative system. This is a potential attack vector, whereby a malicious entity may buy up millions of dollars worth of XRB and carry out a voting attack. This scenario is outlined on their Attacks wiki. Granted, it is “low” risk as the malicious party would have to effectively forfeit large sums of money to carry out this attack, on the order of hundreds of millions of dollars or ~50% of the market cap, as of this writing.
Is it Next Bitcoin?
RaiBlock is Better Version of Bitcoin. No block no fee.. No miner . And Decentralized.
Why you should invest in it?
Current price of RaiBlock is 30 $. 55% up in a single day. We will see massive price pump in 2018. Recommended for investing.