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The RaiBlocks token has made a fast rally in the last 4 weeks (December 2017). On November 29, the price was just under € 0.20 and today (01/01/2017) at € 19.57 and has thus gone up almost 80-fold price increase within a month. Even the price hike in the last 24 hours is a strong 57.79% (According to data from Coimarketcap.com).
The market capitalization has increased from 53 million to more than 2.5 billion euros. XRB currently ranks 17th in the largest cryptocurrencies (in terms of market capitalization). But what is behind this unhealthy hype? A promising Cryptocurrency with potential or just “pump and dump” again?
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Technology of the RaiBlock token
According to the developers of the official site https://raiblocks.net/ the virtual coin should be able to:
- There should be no transaction fees
- Transactions should be similar to IOTA or Ripple in real time (“Instant Transactions”). The waiting time should be less than 10 seconds.
- The cryptocurrency should be able to be scaled up virtually infinite.
This should be possible with a new technology called Block-Lattice. Each RaiBlock address has its own blockchain, which handles the Transactions asynchronously. The big difference to the Bitcoin blockchain lies in the filling of the blocks. A Bitcoin block is provided with multiple transactions, whereas a RaiBlock block is filled with only a single transaction at a time. This results in faster real-time transaction processing and no fees.
Our practice test showed that the transactions could actually be transferred within seconds from the stock exchange (bitgrail.com) to our webwallet. The very small fee (which, however, is levied by the Exchange itself and not by the network), makes the currency suitable for mass from our point of view. The following diagram shows how many transactions per second can be handled by the respective currency:
It should be noted at this point that this is of course only an exemplary representation, and the real values can vary or deviate. Nevertheless, the XRB token is many times faster than many other coins such. B. Dash , Ethereum , Litecoin or ripple .
The post RaiBlocks (XRB): The Next Generation Cryptocurrency appeared first on Digital Bodha.
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