Nano (Formally Rai Blocks): Blockchain Token – What is it?

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Estimated reading time: 1 minute, 30 seconds

This episode of Blockchain Token – What is it? covers RaiBlocks! In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now.  We’ll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more.

Raiblocks is a trustless, low-latency cryptocurrency that uses something called block lattice architecture, where each account has its own blockchain and achieves consensus via delegated Proof-of -Stake (PoS) voting.

***Note: The day this video was released, Raiblocks announced that they were rebranding to Nano!***

Each account-chain can only be updated by the account’s owner; this allows each account-chain to be updated immediately even though it doesn’t match the data on the main chain. This allows for speedy transactions that can be confirmed so the created chain is reflected by the whole block lattice.

Raiblocks claims to offer instant transactions without fees, with unlimited scalability of the network. Its primary design is to work as a peer-to-peer currency.

Since they use a delegated Proof-of -Stake to reach consensus, the network requires minimal resources, no high-power mining hardware, and can process high transaction volume. Raiblocks has processed millions of transactions, while maintaining a ledger size of under 2.0 GB.

Raiblocks main competition as a digital currency includes bitcoin and ripple, amongst many others.


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