In the future, crypto currencies will repeatedly have to struggle with performance and scalability problems. The more people use them, the more unstable and slow the system becomes. The RChain Coin is one of many possible solutions to these problems. The goal is a platform that can grow infinitely while still offering fast transactions.
Bitcoin code – What is this crypto currency?
The Bitcoin code crypto currency has only a small benefit. More important is the actual Bitcoin code blockchain. You need the coin to gain access to the platform and use its technologies. The blockchain uses the proof-of-stake algorithm to create new blocks. This should make minting possible, which is similar to the “mining” of proof-of-work. Only you only have to hold the coins on the RChain wallet and get some coins sent for it. How much exactly, one cannot say so far. The coin should also be able to be used for transactions on the blockchain.
RChain is primarily a platform, which should maintain different blockchains. This includes both public and private blockchains. The core are the “Rho Virtual Machines”. R-chain has a “multi-chain” structure and supports multiple blockchains simultaneously. The virtual machines handle the blockchains and their daily transactions. The whole load should be distributed over the virtual machines and if the requirements increase, the blockchain creates new virtual machines on its own.
These are located on “nodes”, i.e. nodes maintained by Bitcoin revolution users
The distribution of the blockchains via a system of nodes and threads should make R-Chain particularly fast. Up to 40,000 transactions per second should be possible, in the future even 100,000. The Bitcoin revolution platform is designed for theoretically infinite scalability and should still be able to handle thousands of Bitcoin revolution transactions per second even with constant growth.
Like many other blockchains, it is based on Ethereum and uses its Smart Contracts concept. Only they are written in the R-chain in the programming language “Rholang”. This allows internal parallel programming and should help to make the Smart Contracts faster and more flexible. Similar to other blockchains, the R-chain plans to allow programmers to use the platform to develop their own applications and use them over the platform.
A special feature of the crypto currency is the R-chain cooperative. This is the community that decides about the development. The members control, own and develop the open-source blockchain. In order to become a member, a one-time payment of 20 dollars is necessary. With this payment the member gets access to the democratic votes, like the project approval or the budget administration and they elect the committee. There are also the Board Director Seats of the Cooperative, which consist of the original members of the R-chain Foundation. Their seats expire after different years and provide space for new members.