RChain in Quest of Better Blockchain Technology
In 2016 RChain team took on a quest to find a solution to most common blockchain problems such as scalability, the speed of transactions and security issues. They came up with a blockchain design that would be capable of running up to 100K operations per second, have a decentralized cooperative development of the system, and provide developers with a variety of tools.
RChain Rho Virtual Machine and Other Innovations
The central stage of RChain’s blockchain system will take the Rho Virtual Machine Execution Environment that would be able to run multiple virtual machines simultaneously. All smart contracts on the system will be written in reflective higher order language Rholang. Namespace technology will be used to communicate resource location on the blockchain.
RChain Private Token
RChain had a private token sale in 2017 that gathered 15 million USD for the project development. The token, ticker symbol RHOC, was sold for 0.2 USD per token and cost ten times more after half a year.
RChain’s first governance forum took place in Seattle, Washington in February 2018. The team plans to conduct an ICO late in 2018, but the date and other details have not been confirmed yet.