RaiBlocks enters the top 20 of the crypto. Does anyone know what it is about?

¿WHAT IS RAIBLOCKS?

RaiBlocks is a relatively young project. The start of your listing on the Coinmarketcap portal dates from March 2017. At that time, the price per unit was less than a penny. At the beginning of December it had reached 0.20 dollars but during the last month of the year it reached 30 dollars.

The developers of RaiBlocks tackled some of the big problems of Bitcoin. Scalability, high commissions, waiting times for transactions and high energy consumption are some of the problems that RaiBlocks expected to solve. Its creators promised that XRB would have transactions in real time without having to consume as much energy as BTC needs.

I love this display of transactions per second of XRB compared to some of the most popular currencies.

¿HOW DOES IT WORK?

Many compare RaiBlocks with IOTA. XRB uses an acyclic chart algorithm. OITA uses it in its Tangle system while RaiBlocks uses its own block lattice technology.

Block-Lattice works in a similar way to the usual blockchain. However, it has several significant differences. Each account registered in the XRB protocol has its own blockchain, called "account-chain". Only owners can modify their accounts. Thanks to this, each chain of accounts is updated asynchronously in relation to other accounts in Block-Lattice. This eliminates the need to trust the entire network.

All funds transferred through a block-lattice require two transactions: the issuer and the receiver. In order for the transaction to be resolved, the receiving party must "sign" the block confirming receipt of the funds. When the same issuer confirms, the transaction is completed. All transactions occur on the User Datagram Protocol. This allows you to keep costs low and perform transactions even when the receiver is not connected.

Thanks to the introduction of the account-chains and the double transaction system, the two parties will be responsible for confirming the transfer of funds. This eliminates the need to use miners and creates a precedent for free and instant transactions.

Raiblocks will also replace the work test system with a delegated participation test model. Ark and Lisk already use these participation test systems. The validators selected by the users will replace the miners. This solution eliminates attacks on miners, as well as the centralization of mining. Double transactions also exclude the need for delegates to intervene.

HOW TO GET RAIBLOCKS

This is complicated. RaiBlocks is only available on some small exchange platforms. The biggest of them is BitGrail. This platform sells 89% of the volume of XRB. Binance, the second exchange platform in the world, has also started voting if it will allow XRB to enter its market. RaiBlocks leads the vote with a lot of advantage over others.

There are two days left to vote for the XRB entry in @ binance_2017! Share the message, mobilize your network, help them start and assist by getting 1 BNB to vote at https://www.binance.com/vote.html. We still lead the vote but our margin is shrinking. Let's take him home! @raiblocks $ BTC

RaiBlocks is popular in Venezuela. In the BitGrail exchange platform, most of the IPOs come from the South American country. The Venezuelans, who are struggling with a strong economic crisis, are trying to find more stable alternatives to the inflation suffered by the Bolivar. It is difficult to know what could have caused the growing popularity of RaiBlocks in this nation. Some people speculate that one of the reasons could have been the "taps", of which the Venezuelan people were eager to obtain free coins. In any case, they are the basis of the success that this crypto had in December.

¿WILL IT BE RENEWED?

The user of Reddit Frosstic, published a theory in which he explained that RaiBlock will soon renew its brand. The project would change its name to Nano and start working with DADI, a decentralized web services company such as Cloudy. To confirm this theory, Frosstic shows images of the new projects on the web, as well as IP addresses.

A team of RaiBlocks developers rejects rumors that someone has had to work hard to develop such a conspiracy theory.

In the coming months we will know if RaiBlocks will become one of the most popular cryptocurrencies. If Binance starts offering its trade, it is likely that interest on it will increase significantly as a result of an influx of new capital.