RaiBlocks is a new way of thinking about money, take some time and educate yourself on the benefits and uses for this network.
Unlike conventional blockchains used in many other cryptocurrencies, RaiBlocks uses a block-lattice structure. Each account has its own blockchain (account-chain), equivalent to the account's transaction/balance history. Each account-chain can only be updated by the account's owner; this allows each account-chain to be updated immediately and asynchronously to the rest of the block-lattice, resulting in quick transactions. Since blocks can only be added by each account-chain's owner, transferring funds from one account to another requires two transactions: a send transaction deducting the amount from the sender's balance and a receive transaction adding the amount to the receiving account's balance.
Because the protocol is incredibly lightweight and running a node costs next to nothing, RaiBlocks transactions are processed with no fees. One transaction fits within a single UDP packet, and transactions are handled independently, eliminating any block size issue.
Wallets pre-cache the anti-spam Proof of Work for the next transaction once a transaction is sent, making transactions instantaneous, as both sides have the proof of work ready to go. For ongoing transactions there may be delays, but this is intentional to prevent transaction spam.
RaiBlocks is not mined and has reached its maximum supply of 133,248,290 XRB. Funds were initially distributed via a captcha-based faucet distribution system that ended in October 2017. Websites claiming to mine XRB are actually mining other cryptocurrencies, such as Monero, to trade for XRB on an exchange, and then paying out miners in XRB, leveraging RaiBlocks’ feeless transactions.
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