RaiBlocks (XRB) Review – Crypto Coin Judge
What is RaiBlocks?
Like hundreds more, RaiBlocks is also trying to stand tall as another altcoin in the market This coin, is realistic and efficient when compared to other remaining altcoins and continues to upsurge in the market.
RaiBlocks have been operating in the industry on its proprietary block-grid known as block-lattice and it is also looking forward to advancing in areas where Bitcoin, at times, has failed.
One of the best features of this altcoin is that it lets you make transactions at no charge and in real-time without having to deal with any work-intensive electricity consumption and overheads (which is not the case for Bitcoin).
How do RaiBlocks work?
This coin is using directed acyclic graph, or DAG algorithms, but it is often seen working on their proprietary model called Block lattice. Block lattice functions as a blockchain, however with a couple of underlying changes. When creating an account with its platform, the user has to undergo RaiBlock’s system, which is known as an account chain. The best thing about the account chain is that users are allowed to alter their own chains, from which each of the account chains is updated from its proprietary Block lattice. When you transfer assets, you will be asked to finish at least a couple of transactions – a receiver and a sender transaction. The beneficiary will then have to sign a block to confirm and verify the transaction.
The blockchain and its traits
1 – Block-lattice is designed with a wide range of functional and effective features. For example, it stores and processes transactions.
2 – Generally, each transaction is itself a different block, and each fresh block has to be swapped with the previous one on a user’s private account chain.
3 – Each new block also records a history of its account balance and transactions. All these transactions are then verified via the comparison between the prevailing balance on the former block and the sending block.
4 – On the other hand, the sum on the receiver’s side is added to the account’s former blockchain.
5 – Consequently, a fresh block is created with all credentials about the member and his/her account information.
6 – Similarly, the public ledger is protected from unimportant history records as traditional ledgers and it only keep information about the current account balance.
Below are some benefits of the block-lattice infrastructure:
The user can upload their accounts and account chains anytime with the help of a new uncoordinated model. It’s quite normal to find that users of this model are satisfied, as this model works faster and helps with immediate transactions, which are usually fee free.
Transactions in RaiBlocks are handled independently from the principal chain on the network. In comparison, on Bitcoin’s conventional blockchain, which is a distributed ledger, transactions are never made transparent to the user until the entire block is created into the chain.
Decentralization and electricity efficiency:
The network of RaiBlock has been ensured with Delegated Proof of Stake (DPoS) model. This type of model basically has more advantages than Bitcoin’s PoW mechanism.
Unlike many altcoin blockchain mechanisms in the market, RaiBlocks have smartly secured itself from hazardous mining attacks by using a network without miners. By ensuring that all the delegates of this coin hold the currency stake is prevents anyone misapplying its power and lastly, by attempting to centralize the coin. This way, neither the network or their investment will be put in danger As this is block-lattice grid, members just have to authenticate their transactions if any problem shows up.
Why would using in RaiBlocks be better than other solutions?
This coin had perhaps the most surprises last year than any other struggling altcoins. Rising from anonymity to the list of top 20 leading altcoins in the market within a month, this crypto coin caught everyone by surprise. RaiBlocks have often been compared to IOTA and the only reason for this, it that it feature a Directed Acyclic Graph (DAG), which is contrary to the conventional blockchain mechanism.
To cut long story short, here are the perks of RaiBlocks:
1 – Transactions are free of charge.
2 – Instantaneous transactions.
3 – There are no miners involved, which as a result removes the interest conflict between miners and users.
4 – RaiBlocks do not hold ICOs. They are more into creating a system that is worth value exchange than raising funds through a crowd sale.
5 – Objectives are raised around value exchange, fund transfers, and nothing else. They follow one mantra: Do one thing and do it well.
6 – The platform looks forward to being exactly what Bitcoin is: a genuine and simple platform to use digital currency.
7 – RaiBlocks was listed on a couple of ambiguous exchanges, however now it is being added to a few new and leading exchanges every week. In January 2018, this coin showed its potential for hikes in value as soon as it develops self-trading elements on dependable, renowned exchanges.
8 – The whole RaiBlocks mechanism is relatively new, as DAG has only few players on it right at this moment. This shows indirectly that the mechanism has invisible improvement scope.
9 – The creators, have focused on the core tech and have extensive experience in the sector. They say that RaiBlocks’ value has potential to increase once the full-fledged marketing commences.
10 – Their team might not be as famous as other cryptocurrency teams on the blockchain, but the coin has the potential to become a household name in the future.
11 – Lastly, their legal status is to be released by the first quarter of 2018. Once its legal status is released, its market value will reportedly be affected.
How to buy and store RaiBlocks (XRB) in the wallet?
You may set up an online wallet you can also choose desktop wallet, if you prefer.
1 – First of all, visit Raiwallet online and click to sign-up.
2 – Start by putting in your email ID and hard-to-crack password (which you won’t easily forget).
3 – Now, on Signing-up with the wallet, you will be given a personal identifier as well as seed.
4 – To know, what they are for you had better read the explanation provided. It’s essential that you keep those data somewhere safe, secure, and easy to find.
5 – Once you succeed at backing them up safely, you will be directed to the Go To Your Wallet button.
6 – You will have to collect your wallet address, which should look like a long series of letters and numbers, just right below the HEADLINE ‘Your Account.’
7 – Copy this address down somewhere, as you will be asked for this.
8 – Now, you will buy the popular cryptocurrency Ethereum, so that it can be exchanged with RaiBlocks.
Why is RaiBlocks better than Bitcoin?
1 – This cryptocurrency is having all the potential to become one of the major cryptocurrencies and can as well be utilized for trading remaining cryptocoins in the market.
2 – Secondly, as there are no miners, there is less politics and disputes between users and miners.
3 – There is a simplicity in it, which seems to be a potential to push the coin to No.1 and become a new payment system in the real world.
4 – Looking at other cryptocurrencies like Litecoin, Dogecoin, NEM, we find a bunch of complicated things such as dividend platforms, smart contracts, partnerships, and etc, which are actually very sophisticated and not easy-to-use for the general public. The general public wants a cash system free from the influence of capital markets and inflation, that is easy to use.
The best things that set RaiBlocks from Bitcoin is:
Since this coin aims to serve only as a cryptocurrency, people can consider investing in it. Although XRB might not have anything on BTC’s market cap or on the mainstream payment system yet, on technological level, it’s relatively better.
RaiBlock: Price and statistics
Beating Bitcoin and replacing it would be an unusual dream for any altcoin. RaiBlocks is the latest one to enter the market and the main focus should only be on maintaining value.
The reason why this coin has dropped abit in value is because it still needs to get its legal status released by the first quarter of 2018. Yet, in comparison to other coins, as the latest debutant, it is still getting added to reputable and popular exchanges on the market. Once it releases its legal status and gets enlisted on renowned exchanges, it will again pick up in value.
Their team is yet to get richer and broader. As the latest cryptocurrency to be added to the market , RaiBlocks has yet to earn a name and fame worldwide. During some exclusive interviews held by different media houses, they mentioned that their hiring was still ongoing and hopefully, they too will stand tall along all the leading altcoins like Ripple, IOTA, ZCash in the market.
The best feature of the RaiBlocks Platform is that it processes its transactions at no charge. Depending on a lightweight protocol, the platform mechanism is able to translate nominal costs for all its users and on any node. Each transaction is done via the RaiBlocks’ Blockchain Network and is supplied in only one UDP packet. In addition to this, all transactions performed on RaiBlocks Platform are processed separately, as a result the problem with the block size is removed.