What is Raiblocks Coin?
Raiblocks Coin first attracted attention at the end of 2017, with many buyers now interested in the currency. At the end of November 2017, the value stood at €0.20; just four weeks later, however, it jumped to €19.57.
Along with this, the market capitalization has increased from 53 million to 2.5 billion. Thus, Raiblocks Coin is now in 17th place on the list of largest cryptocurrencies.
At first glance, the currency seems to be subject to hype—the rapid increase at the end of 2017 seems too unstable. Does the currency really have the enormous potential many seem to think it does?
To clarify these questions, it is worth taking a detailed look at this rising cryptocurrency.
The technology behind Raiblocks
The currency stands for low latency and high data throughput and is initially an attractive cryptocurrency for a few reasons. Contrary to other cryptocurrencies, there are no transaction fees for the Raiblocks Coin, which is a very positive aspect for buyers.
Furthermore, transactions can be processed in real time. This already happens with currencies like IOTA and Ripple, and buyers can expect a waiting time of less than ten seconds. In addition, Raiblocks Coin is infinitely scalable. Behind this is a new technology called Block-Lattice.
The advantage of this technology is that each row block address has its own blockchain, which performs the transactions asynchronously. Therein lies the difference to the Bitcoin blockchain—the filling of the blocks.
While blocks can be filled with only one address, the Bitcoin blocks are filled with several addresses. This is the reason for the fast transactions in real time and the absence of fees.
The team behind Raiblocks
The founder of Raiblocks is Colin Lemahieu. He is also responsible for the development of the desktop and mobile wallet, and is considered a leader behind the currency.
Eleven other developers also belong to the team, one of whom is Timothy Redaelli, who is subject to system administration. Another member of the team is Mica Busch. He is not only responsible for the development of the website, but also for the mobile applications.
The team has set groundbreaking goals for the future. Compatibility with Bitcoin and simplified use of blockchain technology are just a few attractors, in addition to focusing on the environmentally friendly use of the platform.
Transactions by Raiblocks Coin
In practice, Railblocks is convincing and therefore also suitable for masses of buyers. The transactions are actually done in seconds and transferred from the stock market to a digital wallet. The small fees also make the cryptocurrency interesting.
A disadvantage of Raiblocks Coin is the fact that no major stock exchange is trading the currency at this time. Nevertheless, those who decide to buy Raiblocks will find two platforms— BitGrail or Mercatox.
Once the decision has been made for one of the platforms, the registration takes place in just a few steps. After that, users access the trading market, at which point Raiblocks can be exchanged for Bitcoin.
The deposit of the wallet, as well as the purchase of Bitcoin, is possible in the portals.
Raiblocks Coin offers a number of advantages compared to the best-known cryptocurrency Bitcoin. The transaction is reliable, flawless and happens in real time.
Problems with the scaling, the often long waiting times, as well as the high transaction fees associated with Bitcoin are not found in Raiblocks Coin.
However, in addition to Raiblocks Coin, there are other cryptocurrencies, such as IOTA, which also share these advantages and have existed for some time.
Whether the hype around Raiblocks Coin is justified or not can’t be determined at the present time. Nevertheless, the currency is interesting and forward-thinking.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.