UNDER THE RADAR CRYPTOS" - RCHAIN (RHOC)
RCchain wants to have content delivery at the scale of Facebook and support transactions at the speed of Visa. RChain aims to be a massively scalable blockchain.
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Disclaimer: This is my personal opinion, I am not giving biased recommendations. The article references an opinion and is for information purposes only. It is not intended to be investment advice. All information in this blog post is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.
Basic info: [3]
On the RChain platform smart contracts are concurrent and formally verified by the compiler, so they’re fast, versatile, and secure. Those contracts are written in RhoLang language. RhoLang contracts run on the Rho Virtual Machine (Rho VM) - a concurrent execution engine.
They are developing a protocol - A simple “translator” of code that will literally allow just about anyone developing to add their product/service/app onto the RChain blockchain.
Full product launch, named Mercury, is projected by the end of Q3 2018.
Why RChain??
1 - They have a very strong team with a lot of experience and knowledge.
2 - Speed and Scale - The goal is to launch with the capacity to handle 40,000+ transaction per second and it won’t be long until the platform can withstand, with ease, 100,000+ transactions per second. [3]
3 - Tools - transfer your app/product/code over to the RChain platform via our “push a button” translator.
4 - 4 - Co-op ( RChain Cooperative) - The membership fee to join the Co-Op and to have a deciding vote is set at a low enough price that practically anyone from anywhere in the world will have a say in the future of the RChain blockchain technology.
Rho Virtual Machine (RhoVM)
Each instance of RhoVM executes an independent set of smart contracts on an independent blockchain and networks only when necessary. This means that RChain is partitioned (sharded) by default, resulting in a network of coordinated and parallel blockchains. This well sought-after "multi-chain" design is built with self-sufficiency in mind, and it represents a victory unique to RChain. [3]
Consensus across nodes
Like other blockchains, achieving consensus across nodes on the state of the blockchain is essential. RChain’s protocol for replication and consensus is called Casper and is a proof-of-stake protocol. Similar to Ethereum, a contract starts out in one state, many nodes receive a signed transaction, and then their RhoVM instances execute that contract to its next state. An array of node operators, or “bonded validators” apply the consensus algorithm to crypto-economically verify that the entire history of state configurations and state transitions, of the RhoVM instance, are accurately replicated in a distributed data store. [4]
Since nodes are internally concurrent, and each need not run all namespaces (blockchains), the system will be scalable. [4]
Applications
Any number and variety of applications can be built on top of the RChain Platform that provides a decentralized public compute utility. These include, for example: [4]
Wallets
Exchanges
Oracles & External Adapters
Custom Protocols
Smart Contracts
Smart Properties
DAOs
Social Networks
Marketplaces
Source:
[1] https://www.rchain.coop/
[2] https://github.com/rchain/reference/blob/master/faq.md
[3] https://docs.google.com/gview?url=https://github.com/rchain/reference/raw/master/docs/RChainWhitepaper.pdf
[4] http://rchain-architecture.readthedocs.io/en/latest/introduction/introduction.html
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