Detail Whitepaper GitHub Comment Analysis

WebSite	https://www.rchain.coop/
GitHub	rchain/rchain
Update Date	2018 Sep 03 08:09:49

Circulating Supply	382,168,704
Total Supply	870,663,550
Max Supply	1,000,000,000
Price	$0.27018994
Volume 24h	$201,417
Market Cap	$103,258,136
Change 24h	-13.84%
Update Date	September 26th 2018, 2:17:36 am

v0.8.1

he RChain Cooperative and its partners are building a public, Sybil-resistant, and censorship-resistant computing utility. This is an open source project. It will be a blockchain-based platform for specifying, verifying, building, and running decentralized protocols (“smart contracts”) that form the base for decentralized applications. On top of this technology platform, a broad array of solutions can be built, including ﬁnancial services, monetized content delivery networks, marketplaces, governance solutions, DAOs, and RChain’s own ﬂagship decentralized social platform. The decentralization movement is ambitious and will spawn solutions that provide awesome opportunities for new social and economic interactions. Decentralization also provides a counter-balance to abuses and corruption that occasionallyoccurinsomeorganizationswherepowerisconcentrated,includinglargecorporationsandgovernments. Decentralization supports self-determination and the rights of individuals to self-organize. Of course, the realities of a more decentralized world will also have its challenges and issues, such as how the needs of international law, public good, and compassion will be honored. We admire and respect the awesome innovation and intentions of the Bitcoin and Ethereum creators, and other platformsthatdramaticallyadvancedthestateofdecentralizedsystemsandusheredinthisnewageofcryptocurrencyand smart contracts. However, we also see symptoms that those projects didn’t use the best engineering and mathematical models for scaling and correctness in order to support mission-critical solutions. The ongoing debates about Bitcoin scaling and the June 2016 issues with The DAO smart contract are symptomatic of foundational architectural issues. Asanexamplequestion: Isitscalabletoinsistonanexplicitserializationorderforalltransactionsconductedonplanet earth? RChain’s requirements, originating from RChain’s decentralized social product and its attention & reputation economy, are to provide content delivery at the scale of Facebook along with support for transaction volume and speed at the scale of Visa. After due diligence on the current state of many blockchain projects, after deep collaboration with Ethereum developers, and after understanding their respective roadmaps, the RChain leadership concluded that the current and near-term Blockchain architectures cannot meet these requirements. Therefore, RChain and partners resolved to build a better blockchain architecture. Together with the blockchain industry, we are still at the dawn of this decentralized movement, and it is now the time to lay in a more correct architectural foundation. The journey ahead for those who share this ambitious vision is as challenging as it is worthwhile, and this document summarizes that vision and how we seek to accomplish it. We compare the blockchains of Bitcoin and Ethereum, outline the RChain architecture, rationale for its creation, and pointers to initial speciﬁcations.

Nodes that take on the validation role have the function to achieve consensus on the blockchain state. Validators also assure a blockchain is self-consistent and hasn’t been tampered with and protect against Sybil attack.
The Casper consensus protocol includes stake-based bonding, unbonding, and betting cycles that result in consensus.
The purpose of a decentralized consensus protocol is to assure consistency of blockchains or partial blockchains (based on shards), across multiple nodes. To achieve this any consensus protocol should produce an outcome that is a proof of the safety and termination properties of class of consensus protocols, under a wide class of fault and network conditions. RChain’s consensus protocol uses stake-based betting, similar to Ethereum’s Casper design. This is called a “proof-ofstake” protocol by the broader blockchain community, but that label leads to some misperceptions including overstated
centralization risks. Validators are bonded with a stake, which is a security deposit placed in an escrow-like contract. Unlike Ethereum’s betting on a whole blocks, RChain’s betting is on logical propositions. A proposition is a set of statements about the blockchain, for example: which transactions (i.e. proposed state transitions) must be included, in which order, which transactions should not be included, or other properties. A concrete example of a proposition is: “transaction t should occur before transaction s” and “transaction r should not be included”. For more information, see the draft specification Logic for Betting on Propositions (v0.7).

At certain rendezvous points validators compute a maximally consistent subset of propositions. In some cases, this can be computationally hard and take a long time. Because of this a time-out will exist, which, if reached forces validators to submit smaller propositions. Once there is consensus among the validators on the maximally consistent subset of propositions, the next block can easily be materialized by finding a minimal model under which the propositions are valid.
Because of this design and because of the concurrency enabled by sharding of the address space, consensus can be reached for a huge number of transactions at a time.

From a user-centric perspective, this economy aims to directly but unobstructedly allow value to be placed on the content’s creation, consumption, and promotion. This applies to many types of content. For example, a short textual post is created, sent to an initial distribution list, read, promoted (liked), and made available to even more readers.Or, a short movie can go through the same workflow. Along these paths, attention is given, and rewards can flow back to the content originator and to promoters. Based on one’s own engagement with the content exchanged to/from one’s connections, each connection’s reputation is computed. The reputation rank can be used subsequently to present content in a manner consistent with how the user has demonstrated attention in the recent past. For more information, see the original whitepaper, RChain - The Decentralized and Distributed Social Network. The latest thinking about Attention & Reputation Economy will be described in Slack discussions and blog posts.

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Any number and variety of applications can be built on top of the RChain Platform that provide a decentralized public compute utility. These include, for example:

• Wallets
• Exchanges
• Oracles & External Adapters
• Custom Protocols
• Smart Contracts
• Smart Properties
• DAOs
• Social Networks
• Marketplaces