RaiBlocks are non-mineable cryptocurrency. RaiBlocks have already reached its optimum supply. It scores to 133,248,290 XRB. A captcha-faucet distribution system distributed the funds initially. This distribution of funds ended in the month of October, in the year 2017.
Raiblocks is a trust less cryptocurrency. It is also a low latency cryptocurrency. Raiblocks uses a novel block lattice architecture. Here, every account has its own blockchain. Each account achieves consensus through voting of delegated Proof of Stake.
RaiBlocks provides immediate transactions without any fees. RaiBlocks also provides unlimited scalability. This makes RaiBlocks ideal cryptocurrency for peer to peer transactions. The RaiBlocks network needs resources to the minimum. RaiBlocks network does not have any high-powered mining hardware. RaiBlocks network is capable of processing high transactions without breaks and throughout.
RaiBlocks transactions do not need any fees to be processed. RaiBlocks protocol is unbelievably lightweight. A running of node almost costs nothing. A single UDP packet fits in a transaction. The transactions are independently handled and it eliminates any issue of block size.
Wallets pre-cache the Proof of Work, which are anti-spam, for the oncoming transaction, the moment a transaction is sent. This makes the transaction instant. Both the parties have ready to go Proof of Work. Delayed transaction is intended to prevent spam transaction.
RaiBlocks network also provide high degree of scalability for lookups in transactions.
The structure used by RaiBlocks is a block lattice structure. It is not like other conventional blockchains used in other cryptocurrencies. Every account has its personal and own blockchain, known as account chain. This account chain is equal to the history of that account’s transactions and balance history. Only the owner of the account can update her/his account chain. This system enables every account chain to be immediately updated. It is updated asynchronously to the rest of block lattice. This process ensures quick, almost immediate transactions.
Each account chain owner can only add blocks. Any transfer of funds will require minimum two transactions. The first send transaction will deduct the amount from the account balance of the sender. The second receive transaction will add the amount to the account balance of the receiver. The second transaction of receive can be done anytime, at will. There is no need for the recipient of the transferred amount to be present online during the first send transaction.
RaiBlocks offer transactions without any fees. RaiBlocks also offer unlimited scalability. RaiBlocks is the ideal cryptocurrency for peer to peer transactions, with the network requiring minimum of resources.
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