RChain - Shitcoin Review
on Sep 19, 2018
Don’t have a mainnet yet, whatever.
Will do a token swap for ‘meaningful’ coins once mainnet launches (hopefully), whatever.
Raise a quick $15M in two weeks, whatever.
This is precisely what happened to RChain...today’s review.
Let’s dig in…
RChain (ticker: RHOC)
Wtf is this shit?
RChain, another project aiming to provide more scalability and throughput to blockchain systems. To its merit, the project has climbed up the CoinMarketCap ranks to #67 at the time of this writing.
So...let’s briefly explain how RChain works...in the simplest way we can.
RChain has Rholang smart contracts...because they are written in Rholang, a new language for writing smart contracts. These smart contracts run on the Rho Virtual Machine (aka RhoVM). More broadly, there is the Rho Virtual Machine Environment, which can run multiple virtual machines at the same time, across different blockchains. RhoVMs can be run concurrently thus increasing the potential throughput of the network.
RChain supports multiple blockchains (public or private) in its network which can run in a predictable, coordinated, and parallel manner...supposedly resulting in further increased scalability. RhoVM can create more RhoVM’s to handle more load as needed. All in all, this means RChain is partitioned by design, taking full advantage of a ‘multi-chain’ structure.
The technology behind RChain and understanding how these virtual machines work does call for some more in-depth technical knowledge, which is partially why we were surprised to see them raise so much so quickly. They do have good marketing...
We also want to briefly mention the RChain Cooperative...which is an ‘open’ community for people to update and maintain RChain. Members can also vote on proposals. You can join for $20 :) No joke..
OH - when the mainnet launches they plan to do a swap of 1:1 for RHOC to REV coins. Some estimates we've seen indicate the mainnet launch could come as soon as Q4 2018. Comin' up! (maybe)
Who tf is behind this shit?
The founder is Greg Meredith. Not much information on him, but he has a background in software architecture with major companies including Microsoft. Annndd..yeahh..not too much on him, but that is his name, feel free to dive in and Google around. According to their website, they have 5 core members right now.
All in all, mid-tier shitcoin. We are not too hopeful, but happy to see any shitcoin prove us wrong. The explanations about RChain online should be less technical for noobs to want to get in. They also need to launch their damn mainnet.
Hope you learned some shit.
- Mike and Aaron