What is RAIBLOCKS or Nano, its new name and why it could be the most fundamental change to digital currencies since the arrival of bitcoin

Satoshi Nakamoto presented the world's original white paper to a concept we now call the Biloxin. So that each transaction is grouped into a mass and verified by one of the two metals, and each block is connected to the previous mass. Which is a "chain" of blocks extending to the past down to the core mass that began with the Blocin Pitquin network.

Plucheen is registered with Bitquin Transactions, but does not store the amount of Bitquin owned by each address directly. Instead, each transaction refers to a previous transaction to prove that they own the sentinel that is being sent. In order to ensure that someone does not spend the same amount of bicquin twice, the pluchein network uses the "source of truth" for each of the Petchemin nodes. If the node is not in the plaque, it will not.

Although Betquin was not the first digital currency, it was the concept of the blockbuster that allowed it to become the first successful digital currency. Despite this, the currency of the Betquin is not ideal. The erection of each block takes about 10 minutes and most places need confirmation of the transaction in at least 6 blocks before you trust them, meaning that a simple transaction can take up to an hour before it is accepted. In addition, each block of Betcown has a limit of up to 1 MB, meaning that there are almost 7 transactions that can only occur per second and are insufficient for a coin available worldwide.

The creation of more digital currencies has begun since Pitcullin began to focus on being faster, more characteristic, or adding new features, but at the core of most of these currencies it still depends on the concept of the buccaneer.

RAIBLOCKS coin and interlocking block
Colin Limaho, the founder of the "Linux" - "Nano", presented a very different approach. In the Riblock paper, he outlined the concept of "interlocking mass", as each account has a special block and each block contains only one transaction. The Global Accounts Group is referred to as Ledger. When you want to send a replux currency to someone else, you will need two transactions, a sending transaction that is deducted from your balance and a receipt transaction, initiated by the recipient.

Sending and receiving are also not synchronized, which means that the two procedures should not occur in immediate sequence. If the recipient's wallet is not currently present and can not create and sign the received block, the transmission to that wallet will generate a transaction but will remain suspended until the recipient is available online and establishes a receipt block that will settle the transaction.

What are the advantages of the RaiBlocks-Nano currency?

1. Consensus without mining
   Since each Reebok account has its own blockage, and the owner is the only person who, in addition to the pluchen, there is no need for the metal to regulate and verify transactions. Since the Replux currency transactions should not refer to previous transactions to prove that they are the correct owner of the currency sent, the double spending in Rebelux has a different meaning than that in the Betcuene currency. In this network, each transaction must include a signal to the previous owner block, so there will be no double spend unless someone tries to refer to the same previous group in two separate transmissions.

If this happens, the network votes on the correct process. After creating each Rebelux account, a representative node is selected as the proxy for the vote. These nodes are expected to be replicated on the Internet and controlled by a trusted individual. The significance of this vote is to know the number of relevant rellux currencies. Which has the most number of currency, to vote for.

Because each vote depends on the amount of the Rebelux, the 51% attack on Reblux will require the attacker to control 51% of the currency, which is currently worth several hundred million dollars. Even if that happens, the worst 51% attack it can do is make the network unusable (by constantly switching votes and not reaching a consensus) and thus the attacker will not be able to steal or create a currency.

1. No fees and immediate transactions
   Bitquin uses transaction fees to encourage bunkers to secure the network. Because the "Nano" does not need mining, there is no transaction fee. Since they do not rely on metals to determine the timing of transactions when creating a block, transactions are recorded as fast on the network, usually in less than a second.

1. A small account book
   Since each Plucheen account contains its own account balance, it is not necessary to keep a record of each transaction on the Rebelux account book. The ledger can be reduced to keep only the last blocks of each account that are enough just to correct any double spending that may be detected. Although millions of transactions have been sent over the Reelux network, the account book is still less than 2 GB, compared to the Bluxin Bitquin, which requires more than 100 gigabytes.

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Although it has been working for several years now, the structure of interlocking blocks of "nano" remains relatively unknown to researchers, which means that it has not been well studied. It was also not examined as it happened to the balkin-buccaneers. So they may contain defects that are not yet clear. Without transaction fees and without the mining process, it remains to be seen whether there will be enough users who are working on holding a "nano" reblox to create a decentralized network that needs a good digital currency.

However, the improvements offered by the "Nano" reelbox are a huge solution to real world needs. Bitcoin transactions now cost more than $ 25, and even when you send a small quantity it takes 10 minutes to register the transaction in the blockbuster. As such, it seems that rellux can be formatted