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86. RaiBlocks (XRB) (Published: 2nd Jan, 2018)

RaiBlocks is designed to be a low latency, high throughput cryptocurrency. RaiBlocks, a cryptocurrency with a novel block lattice architecture where each account has its own blockchain, delivering near instantaneous transaction speed and unlimited scalability.

Since the high demand and limited scalability have increased the average transaction times and fees in popular cryptocurrencies recently, yielding an unsatisfactory experience. There are several issues in the protocol made Bitcoin prohibitive for many applications, such as poor scalability, high latency and power inefficiency. Meanwhile, the RaiBlocks protocol can run on low-power hardware, allowing it to be a practical, decentralized cryptocurrency for everyday use, with the sole purpose of being a high-performance cryptocurrency.

There are 11 team members divided into two teams, developers and community managers. Colin LeMahieu is the Core Wallet Developer and Creator of RaiBlocks. He was a software engineer at Qualcomm, AMD and Dell before developing the RaiBlocks. The original RaiBlocks paper and first beta implementation were published in December, 2014, making it one of the first Directed Acyclic Graph (DAG) based cryptocurrencies, which broke the blockchain mold, improving system performance and security.

There are three main features. Firstly, there is no transaction fees. As theprotocol 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.

Moreover, it features instant transaction confirmation. The transaction speed is in the blink of an eye. As 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. In general, the transaction is fully confirmed and processed in a matter of seconds. It is a very prominent feature for the users.

Furthermore, it has high scalability. Transaction lookups scale with the logarithm of the data set size logNO with a tree-like structure or O1 if they are based on a hash table. To get an idea of how this scales, if it was a simplebinary tree with 1,000 entries it would take 10 lookups. With 1,000,000 entries it takes 20 and 1 billion would take 30. Pruned nodes only need to keep the latest block of each account-chain, even further reducing lookup time and system resources.

Future Development
In 2018, RaiBlocks will develop light wallet and add chain pruning to reduce chain size. For the community, they will enhance the experience of block explorer. RaiBlocks is currently traded on three exchanges, Mercatox, BitGrail and BitFlip. The development team is actively working to add RaiBlocks to additional exchanges, with the goal of RaiBlocks ultimately trading on every major exchange.

RaiBlocks requires minimal resources, no high-power mining hardware, and can process high transaction throughput. The transaction speed of XRB iseven higher than a centralised bank coin like Ripple (XRP). Based on these advantages, many people believe that RaiBlocks is as good as IOTA. RaiBlocks is almost a game-changer, but the main drawback is that it cannot be traded on major exchanges like Bittrex. It is believed to be on big exchanges very soon. Once it can be traded on those exchanges, RaiBlocks will be a powerful cryptocurrency with high growth potential. As a result, RaiBlocks is worth to invest while we should stay tuned for the coming updates.

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