RChain

Current Price $0.03 USD
Market Cap $12.08 Million
Volume (24 hr) $123,453
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+1.27%
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The world of decentralized applications is a rich ecosystem where future-minded developers can create apps that can help contribute to a better worldwide distribution and access to money. These new applications can also improve modern business, industry, banking and fintech. RChain is a cryptocurrency and blockchain platform focused on concurrency. In computer science, concurrency refers to the ability of different parts or units of a program, algorithm, or problem to be executed out-of-order or in partial order, without affecting the final outcome.

Rchain needed a programming language that was tailored towards a multi-blockchain system in order to allow for cross-chain communication, a key factor of its answer to scalability. The platform is aiming to create a robust ecosystem of dApps that can cross-communicate and allow you to buy everyday necessities like milk at the grocery store with crypto, while still being able to use the same currency to participate in your favorite dApps.

Bitcoin and Ethereum have struggled with scalability as their userbase continues to grow. The founder and leader of Ethereum, Vitalik Buterin, has even admitted that it may take 3-5 years for his platform to be able to scale from one million users to the desired 3-5 billion across the world. The reason they have been unable to reach the scale necessary to become mainstream payment methods is because of the serial nature of their blockchains.

The key difference between Ethereum and Rchain is that Rchain aims to provide a more connected web of multiple blockchains that can intercommunicate effortlessly. While Ethereum has mentioned and experimented with sharding, this method is still not shown to scale to the necessary level despite its ability to slightly improve scalability. Rchain is even learning from one of the leaders of the industry by working with some Ethereum developers to perfect their platform’s infrastructure.

What is RChain?

In essence, Rchain is a more scalable blockchain development platform that has studied and effectively answered roadblocks that the pioneers of Ethereum and Bitcoin are currently working to correct. They have answered the serial blockchain equation with a turing-complete virtual machine that does not operate in series, rather, it operates in a parallel fashion off chain only when needed. Ethereum’s virtual machine is always running, and its planned sharding technique is similar, but still becomes bogged down when traffic is high. Rchain’s unique architecture is a result of its specially designed smart contracts and their unique relationship with the multichain setup of the ecosystem and its inherent virtual machine.

Rho Virtual Machine

The Rho virtual machine is Rchain’s specialized emulated computer system. The key innovation that their Rho VM brings to the table is its ability to executes an independent set of smart contracts on an independent blockchain and networks only when necessary. This means that RChain is partitioned, or sharded, by default. This results in a network of coordinated and parallel blockchains. This well sought-after “multi-chain” design is built with self-sufficiency in mind, and it represents the progress that its developers have made in tandem with the Ethereum developers.

As the amount of people using the RChain platform grows, the load caused by this will need to be spread evenly and efficiently in order to scale. The Nodes on the RhoVM are built to initialize new instances of themselves to manage a larger load on the network. This allows the platform to scale in a linear way while still maintaining consistent performance.

Multiple Instances on a Single Node

One of the core features of the Rho Virtual Machine is its ability to exist in multiple instances on a single node. What this means is that it can perform its functions wherever it is needed, despite the location or amount of traffic at any given time. Each instance of RhoVM is lightweight and multi-threaded, allowing for the multiple high-performance instances to exist on a single node. This results in applications that are able to achieve unprecedented throughput, availability, and response time.

Not only is the virtual machine a very promising innovation by Rchain, but the smart contract architecture also corrects the safety, privacy, and onboarding ability for developers that has been difficult for other similar platforms to perfect.

Namespaces

What makes Rchain unique from many other cryptocurrencies out there today is the fact that it offers a much more simple solution to the complex addresses and receipts. The visibility of a blockchain and its smart contracts to one another on the network is determined by the blockchain’s namespace. RChain’s namespaces offer its developers a framework that can be used to allocate and execute different sets of contracts based on their features, dependencies, and behavioral patterns with a much more user-friendly appearance.

Benefits of RChain’s Namespace Protocol

RChain’s namespace protocol provides a number of benefits, including easier onboarding for new users as well as easier onboarding for developers. The tracking and identification of activity on the blockchain is also much easier with an simpler and more human-friendly namespaces rather than the extremely long and complex default addresses for Ethereum and many other cryptocurrencies.

In order for a blockchain solution that is to the same scale as the internet to be realizable, it must possess a common logic about the “location” of a resource. How is a resource referenced? How can an agent can access that resource and under what conditions? In contrast to many other blockchains, where addresses are long and complex public keys, RChain’s virtual address space will be partitioned into namespaces.

Put simply, a namespace is a set of named channels. Channels are implemented as data stores normally without a name. A namespace is a more simple way to organize and define conditions surrounding the function of a platform and its infrastructure. RChain achieves the more efficient address space that is required for private, public, and consortium visibility by way of namespaces, but it mainly addresses scalability. Namespaces also offer a framework for RChain’s sharding solution, making the channels more easily compatible and identifiable for use throughout the network.

RChain’s Unique Smart Contract Language

Rchain’s smart contract language is equally as malleable as their namespace protocol, yet as simple as the rest of their framework. The RChain platform leverages a message-passing paradigm which is meant to optimize network responsiveness They believe that this offers a more dynamic and sophisticated smart contract ecosystem that is much quicker to react when called upon.

The unique Rho coding language that the Rchain platform is based upon a very advanced calculus-based algorithm that was developed by coding expert Greg Meredith. His research has been thought by experts to be the solution to the Casper scaling issues. As a result, RChain contracts are matchless in throughput and programmability. What’s more, every line of code on RChain obeys a well-tested, formal model of concurrent computation, allowing automatic formal verification for highly scalable contracts.

The Future of RChain

Rchain is a very progressive project that has a well thought out whitepaper and a very strong team behind it. They have focused on a whole platform of scalability that is simple, clear, and defined when it comes to channel identification and communication between the various chains that are running. The independently functioning nodes The multiple high-throughput nodes that can simultaneously exist seem to allow for an unprecedented ability to scale while allowing for a plethora of different applications to utilize it. The multi-chain functionality is a very efficient answer to the scalability problem. The team has prided themselves on formally verifying their technology and proving its use and viability, making them leaders in furthering the adoption of blockchain ad associated technologies. The implementation of Rchain’s mainnet will be an exciting time, and it remains to be seen if they will be able to handle the near endless scale they have been promising.