Cooperative RСhain reported on the progress of the platform development

Co-op
– gaining popularity in the U.S. blockchain community ownership structure. RChain
– Turing-complete platform since the Genesis of implementing the Protocol consensus Casper CBC and sharding, and the structure of the network is not a linear blockchain, a directed acyclic graph of a dynamic shards, having some resemblance to a Tangle from IOTA.

However, if we look for analogies with existing platforms, RChain it is better to compare with future versions of Ethereum, especially in the development of both platforms are actively involved as CEO of RChain Greg Meredith (Greg Meredith) and one of the leading developers of Ethereum — Vlad Zamfir (Vlad Zamfir).

In mid-February the cooperative RСhain held the first General meeting of participants of a Forum on governance (Governance Forum). Participant can be any person who has paid an annual fee of $20 and the last interview (Skype, Hangout, etc.). Members of the cooperative have the right to vote on economic issues and have a number of other privileges. For example, at the end of 2017 the members of the cooperative could redeem tokens RHOC at the special price of 35 cents. Given that in early March RHOC is $1.85, and the absolute maximum, achieved in January, was $2,83, to be a member of the cooperative profitable. After the launch of the blockchain RChain in the 4th quarter of 2018 RHOC be exchanged at the rate of 1:1 to native tokens of the new blockchain REV is functionally relevant at ETH Ethereum.

Meredith reported that as a result closed the sale of tokens received $29.7 million, which will be funded by development RChain and investing in promising startups, creating a Dapp on the new platform.

In addition, the cooperative has signed cooperation agreements with companies and Ventures Reflective Pyrofex according to the building code RСhain. Funding startups will be a subsidiary of the cooperative Pithia Inc., formerly known as RChain Holdings.

The founders Pyrofex – Mike STEY (Mike Stay) and Nash foster (Foster Nash), former employees of Google, engaged in the development of advertising platforms and issues of network security. To develop RChain is a team of 20 mathematicians and programmers.

Reflective Ventures the company has received from the cooperative RСhain 100 million RHOC, which will focus on investments in 12 startups that build applications on RChain.

Pithia Inc – the venture capital division RСhain plans to invest another 100 million RHOC in companies developing applications on Rchain. These can be start-UPS with promising ideas and companies, porting stand alone on RСhain existing products.

The cooperative has established a study group RChain Research, which task will be the study of a number of promising areas:

  • The study of quantum consensus;

  • Artificial intelligence and the field of its possible application in future versions Rchain;

  • Further development of the Protocol, Casper CBC;

  • The learning algorithm LADL
    and its possible practical application.

  • Status of technical work on the platform RChain can be traced to the constantly updated road map of the project, of which, however, can be seen that the release of the main blockchain already smoothly moved from the third to the fourth quarter of 2018. However, the first version of the software package for developers – SDK 0.1 released according to the schedule on 1 February and available for testing.

    Explaining the high level of funding third-party projects of the ecosystem, Meredith said:

    The first release of the Apple App Store contained 500 ready apps waiting for your buyers. When you start Mercury, the first release RСhain, we definitely do not reach this number, so the missing number we will try to get quality. Package Cryptofex (SDK 0.1) should appeal to developers. Platform music services Resonate has announced the creation RChain applications of music content. Moreover, Pithia and Reflective Ventures are engaging on our platform of promising projects.

    Speaking of Resonate, Meredith was referring to the recently announced creation project founded by singer Imogen heap (Imogen Heap) music platform Mycelia
    together with Resonate. Interestingly, the song Imogen heap was in the beginning of 2016, one of the first products to purchase which
    it was possible for the ether. The first experiment was not particularly successful due to the poor payment infrastructure Ethereum two years ago.

    Despite the fact that to start RChain remains more than six months, the market regards the project favorably. Since November 2017, the capitalization of the project increased by more than an order of magnitude – from $24 to $664 million. In this case, the tokens RHOC are only temporary tools and will be in circulation just before the launch of RChain. If the deadlines set in the roadmap will be at least approximately met, by the end of 2018, the Ethereum have a serious competitor. Of course, it is difficult to surprise someone throughput 40 000 – 100 000 transactions per second, but this usually comes at the expense of a significant reduction in the security and stability of the consensus (naive PoS, DPoS), while the Casper Protocol, at least in theory, offers a level of security comparable to traditional PoW current Bitcoin and Ethereum.

    In any case, the project deserves attention, especially since team work is possible in all details to keep track of joining the cooperative and getting access to closed channels.

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