RaiBlocks (XRB), with their release of their most recent products (RaiExchange + RaiWallet) comes and rocks the boat on the crypto market. With the delivery of transactions in matter of seconds with no costs we can get a coin that will leave no dust behind. RaiBlocks (XRB) will be the vacuum for exchanges by giving people the ability to withdraw tiny amounts of this token with incredibly small fees (exchange-based).
RapidXRB, which is a module of RaiExchange is a RaiBlocks exchange that was community created that will allow you to instantly exchange Litecoin (LTC) for RaiBlocks (XRB) without the need for complicated registration and ID confirmations.
Image 1 – RaiBlocks RapidXRB – Source: https://rai.exchange/
When you add this to the release of RaiWallet Beta (RaiBlocks hotwallet) we see that, right now, only people that don’t want RaiBlocks won’t be buying it. This means a huge deal for the RaiBlocks community which is craving for the adoption of XRB to its full potential.
The RaiBlocks (XRB) community has been one of the most enthusiastic during this year, so enthusiastic that Binance listed it as the winner for the contest of the best community of the month in December. The release of these two new products (RaiExchange and RaiWallet) show how close we are from the adoption phase we all have been craving.
What does RaiBlocks (XRB) do differently?
RaiBlocks brings to the table a new innovative data architecture where each user and account will have personal blockchain. This means that each user can independently update their balance without the need for a complete network validation, where each transaction will create 2 blocks, one for the sender’s blockchain and another for the receiver.
Validation of the XRB transaction is dependent of a confirmation on both ends (sender/receiver) which allows for much larger amounts of transfers per second since the spectrum for validation is smaller.
This is only based on the assumption that a trustless system isn’t always required since most of our daily recurrent payments don’t need worldwide confirmation. RaiBlocks (XRB) sees that sometimes there’s no need to mathematically validate a transaction as long as it agreed upon both users.
Whilst this is a very interesting architecture, one must ensure that these transactions are still validated when you don’t trust the other party. The ability of 7000 transfers per second by RaiBlocks (XRB) is only possible because of this architecture and it serves a pretty good purpose, speed when trust is enough. For the majority of people making every day purchases with good intent this will be fine.
What about when trust isn’t enough?
RaiBlocks (XRB) has the ability of selecting the paranoid mode when occurring in a transaction, which in turn makes the transfer pending on confirmation whilst it doesn’t have a 51% network validation. Each node will receive the transaction request and sign it if there are no conflicts or double-spend attempts. Once more than half the network confirms and signs it the transaction goes through.
This will solve the problem of a completely confirmed transaction when there’s no trust between parties, which means that RaiBlocks (XRB) solves speed when needed and trades speed for security when the user needs it which is great!
Market Analysis
We are already experiencing a rebound of the market where this year the “rock-bottom” has stayed to haunt us a little longer than previous years. RaiBlocks (XRB) was one of the coins that most rallied upwards during the December hype which means that even on times where the unexperienced entered the market, XRB spoke well to them which means that their message is getting delivered in terms of marketing at least.
Raiblocks is currently being traded at $18.53 USD, it was recently added to KuCoins and is about to get listed on Binance. Check out the charts below:
Image 2 – RaiBlocks (XRB) Charts – Source: coinmarketcap.com
During February we’ll most likely see another Bull run and once we do RaiBlocks will be again one of the top performers in my opinion, and it will probably hit #10 in coinmarketcap before Q3 of 2018.