What is Rchain (RHOC Coin)?
RHOC Coin Price
What is Rchain? A Quick Overview
Rchain is a blockchain decentralized application (Dapp) platform aiming at achieving the scalability of Facebook and transaction speeds of Visa.
They are a smart, versatile blockchain that scales with use by using a programming language called Rholang; utilizing the Rho-Virtual machine.
The History of RHOC Coin
RHOC coin started mid-2016.
On their site they state:
"To become a blockchain solution with industrial-scale utility, RChain must provide content delivery at the scale of Facebook and support transactions at the speed of Visa.
After due diligence on the current state of many blockchain projects, after deep collaboration with Ethereum developers, and after understanding their respective roadmaps, we concluded that the current and near-term Blockchain architectures could not meet these requirements.
In mid-2016, we resolved to build a better blockchain architecture."
Since their creation of Rchain, they have been building out team structures and working on the product.
Their timeline can be found here: Rchain Flight To Mercury
Be forewarned, it is filled with technical jargon, which if unfamiliar, will be hard to get through the timeline.
The Rchain Team (1)
Greg Meredith - President - Linkedin
Greg is tasked with executing the directives of the co-op board, as well as giving high-level leadership to the cooperative and the RChain platform development.
Lisa Rice - Treasurer and CFO - Linkedin
Her experience includes a broad range of businesses and industries from both public and private equity held companies. Lisa holds an MBA in Finance from the University of California, Los Angeles and a BBA in Accounting from the University of Michigan. She’s a licensed CPA in the state of Washington.
Kenny Rowe - COO - Linkedin
Tasked with improving the logistics of the co-op interworkings such as the onboarding of new members and developers.
Patrick Maguire - Community Lead - Linkedin
As the Community lead, Patrick is tasked with creating, connecting and analyzing various community building projects for the RChain Co-op membership by bridging Core development/marketing work with member activism generated from autonomous community initiatives.
To see the full team head to their LinkedIn here: Rchain Team
The Purpose of Rchain Coin
Rchain was created to address the problem of scalability on a global level.
With Bitcoin and Ethereum there is an ongoing struggle to be able to handle the number of people that Facebook holds or transactions that Visa processes every single day.
That’s where Rchain hopes to shine...
A way to bring a quicker, scalable blockchain to the world.
Utilizing a different coding language called Rholang, they aim to be able to scale quickly with a good foundation.
The Features of Rchain Token
A Scalable Smart Contract Language - Rholang
These are internally concurrent contracts utilizing a message passing paradigm to optimize smart contracts.
These smart contracts contain a few properties:
- Reactive Data Streams
- Pattern Matching
Each of these smart contracts is completely verifiable making them scalable.
RHO-VM is what powers the RHOC coin blockchain.
It is a turing-complete, Byzantine Fault-tolerance, and replicated.
There is the autonomy of smart contracts on the RHO-VM which ensures an independent blockchain and networks are only used when necessary.
Meaning that there is default sharding in RHOC coin.
With growth, nodes initialize new instances of RHO-VM to manage the load.
Allowing for linear scaling with complete consistency across all boards.
Being multi-threaded, multiple high-performance instances can exist on a single node.
Making Dapps available for scale on the modern market.
Unlike Ethereum which uses regular proof-of-stake, RHOC used DPoS.
What that means is that a group of delegates is voted for and then help to vote on the changes that will occur on the blockchain.
This is a popular new PoS model amongst emerging platforms for building Dapps.
What We Think of RChain
Rchain is another platform for the development of Dapps.
Having already created sharding and utilizing the help of Valid Zamfir (of Ethereum) is a great first step.
Otherwise, we are currently not holders of this project but will be watching its development.
It still is in the early stages of build, so in time we will see how it plays out.
If you liked this review and want to help support the academy donate some ETH or ERC20 Tokens below!
MORE FROM THE CRYPTOCURRENCY INDEX
What Is Omisego (OMG Coin)? OMG Coin Price Omisego, OMG Coin is a public ethereum-based financial technology. The goal is to help enable peer-to-peer value exchange as well as payment services across fiat services/decentralized currencies; while also being across jurisdictions and organizational silos. All in all it will allow anyone to “conduct financial transactions such…
What is Aion Coin? AION Coin Price What is Aion? A Quick Overview The AION network is a multi-tier blockchain that allows for the communication and interaction between different blockchains. As AION states in their video, the 2nd generation blockchains like Ethereum could not communicate or interact, but 3rd generation blockchains are meant to allow…
What is Iconomi Coin (ICN)? ICN Coin Price What Is Iconomi | A Quick Overview Iconomi is a digital asset managment platform that allows users to have 24/7 liquidity, invest in/manage various digital assets, and utilize combinations called Digital Asset Arrays (DAA). They enable users to use four generations of digital assets starting at Bitcoin…