⚡ Heard about @raiblocks $XRB but don't know what it's all about? Here are the easy-to-understand basics in under one minute: pic.twitter.com/H4M2K1JTWy
— Coin Reviews (@CoinReviewsIO) January 26, 2018
Bitcoin might be the current crypto king, but its network is slow, transaction fees are high, and mining it requires as much power as a small country.
Raiblocks is a cryptocurrency aimed at solving those problems which we’ve gone in depth covering on this site, previously. It boasts near-instant transactions with no fees and no mining because rather than using a single chain, each Raiblocks account has its own unique blockchain. Transactions consist of a send transaction on the sender’s chain and a receive transaction on the recipient chain, linked via a distributed global chain that’s quite small because it doesn’t have to store transaction histories.
This structure makes Raiblocks quicker and more scaleable than many cryptocurrencies. Transactions don’t have to propagate through the entire network to be confirmed. Each user’s transaction history is stored on their own chain. And because Raiblocks uses a very lightweight proof-of-stake system for consensus, there’s no need to charge transaction fees: node operators won’t incur high electricity costs for running a node.
Like most cryptocurrencies, it’s secure. To breach the network, you’d need more than half of all existing XRB tokens, which would cost nearly a billion dollars at current prices.
