The Rise of RaiBlocks

Recently a new, decentralized crypto-currency called 'RaiBlocks' burst onto the scene and is gaining a lot of attention over the last week or so. RaiBlocks differ from most traditional crypto-currencies in the sense that there is no mining or staking needed to confirm the transactions and discover new tokens. The token distribution is 100% complete. Transactions are fast (boasting over 7,000 transactions per second) and feeless! The RaiBlock protocol is sort of like an eco-system of blockchains, known as a 'block lattice'. Each account on the network has it's own blockchain which is replicated to all peers. Transactions between blockchains are made by using Send and Receive blocks that reduce or increase the balance of the account accordingly. Each user signs the transaction themselves to receive confirmation. This is an interesting alternative to the typical crypto-currency protocols and the future looks bright for this project.

Here's an explanation of the 'Block Lattice' from Colin LeMahieu, a RaiBlocks lead developer: https://github.com/clemahieu/raiblocks/wiki/Block-lattice

The Price

The price of RaiBlocks has seen a dramatic increase lately as it's gaining popularity throughout the crypto-community. It's up 25% in the last 24 hours. On December 1, 2017 the price of 1 RaiBlock was roughly 23 cents. It is now over $10 for 1 RaiBlock and the price shows no signs of slowing. Currently the coin is only available on a few small exchanges. If RaiBlocks finds it's way to the major exchanges like Bittrex and Poloniex, the FOMO buyers should pour in and the price will continue it's way upward. The market capitalization of RaiBlocks surpassed $1 billion and quickly made it's way to over $1.3. It currently stands at #30 overall in market capitalization on coinmarketcap.com, but I would not be surprised if we see it in the top 10 shortly.

BUG BOUNTY PROGRAM

Colin LeMahieu, creator and lead developer of RaiBlocks, announced a Bug Bounty program yesterday.

Payouts:
Minor Bug (100 XRB bounty or BTC equivalent)
Moderate Bug (1,000 XRB bounty or BTC equivalent)
Critical Bug (10,000 XRB bounty or BTC equivalent)

at $10 each, those are some solid payouts!

Read the full announcement here: https://medium.com/@clemahieu/announcing-the-raiblocks-bug-bounty-program-b7185711bd52

RaiBlocks Resources:

https://raiblocks.net/page/resources.php

Thanks For Reading!