Howdy, folks! ?Welcome back to the show that never ends!?
I've decided it's high time I did a Coin-a-Year on Raiblocks. This is a special feature I do to
recycle old materialrevisit past coins I've covered of special note a year or more later. I originally posted my Coin-a-Day feature about Raiblocks on this subreddit March 7th, 2016; it didn't get much attention then, but I have a strange feeling people might be slightly interested to see the difference now.
Below is the original report. I'll strike out what is wrong now, and add [bracketed notes] for updated commentary.
I'm no expert on the current state of Rai by any means. I'd honestly thought the coin was dead later in 2016; just didn't check back into it. And now here we are.
Bias note: I got a significant bit of Rai from the original faucet. I have sold a fraction of that this year but still have a lot of it. I'm biased both by holding it and from selling it.
Hello, y'all! I saw a comment pointing to this coin as being designed for free transactions, which is a core interest to me, so I decided to look into it a little bit and do a write-up. Enjoy!
Today's coin is Raiblocks (
RAIXRB), which are designed to support free transactions and no block rewards. The coins will be initially distributed by a CAPTCHA controlled faucet with an annual halving rate.
[Faucet now closed.]
• Initial creation: October 15th, 2015 
• Coin supply: 4.8 x 1012 rai current supply in circulation; 3.4 x 1014 rai maximum supply 
[XRB is the new standard base unit which was Mrai before (and still I suppose). Also, supply is distributed. So we now have about 133 million XRB as the outstanding and max supply.]
• All-time high: Not yet traded as far as I know. 
[About $37.5 or 0.0028 per CMC max so far, about two days ago]
• Current price: Not yet traded as far as I know.
[Depending on the exchange and moment, somewhere around $30-35 currently or about 0.002-0.0022 BTC]
• Current market cap: Not yet traded as far as I know.
[Somewhere around $4 billion]
• Block rate (average): Unlimited 
• Transaction rate: ? 
[I'm too lazy to find this right now. Maybe someone will chime in with it in the comments.]
• Transaction limit (currently): None 
• Transaction cost: Free 
• Rich list: ?
[https://raiblocks.net/page/frontiers.php - Top 100 own ~63%]
• Exchanges: None yet.
[Bitgrail and Mercatox have been the two main. Kucoin just added it and Binance has it in its voting which is ending shortly.]
• Processing method: Proof-of-stake 
[Above refers I believe to dispute resolution (double spend). There's also a minor PoW for send/receive.]
• Distribution method: Faucet 
• Community: New-born
[Fairly strong and growing. Good memes. Slightly drunk on euphoria currently.]
• Code/development: Active development at https://github.com/clemahieu/raiblocks
• Leadership: Colin LeMahieu
• Innovation or special feature: Protocol designed without a limited throughput or block rate, as well as not supporting block rewards nor transaction fees.
Raiblocks is, as far as I know, the first cryptocurrency designed from its start to not support any block reward or transaction fee. In addition, it has no block size or rate limit. Further, all coins will be initially distributed through a captcha-controlled faucet on the main site. It's a bold attempt, going against the conventional wisdom of what is possible.
Edit: I should mention a couple things. First, there is a PoW attached to transactions as an anti-spam defense. This PoW can be attached by the recipient rather than the sender as well, which means that large automated sends could be done without the PoW if needed and the recipient could attach that.
Also, the natural question coming from how all the rest of the cryptocurrencies work is "how does it work without an incentive to run a node?" The idea presented in the whitepaper is basically that operating a cryptocurrency has a lot of expenses, and most of them are paid "out-of-band", so why not have funding nodes be that way too? It leaves it open to whatever other incentives there may be, of which the most obvious are first: that there are only full nodes so far, so if one wants to use the coin, then one is going to run a node. More long-term, even after SPV, presumably large holders might choose to operate one regardless. Someday, if merchants accept it, they would presumably run one. And enthusiasts. It sounds very tenuous, and this is why this is such an audacious attempt in my opinion.
After six months running, the number I heard for the blockchain size was about 20 MB, which is insanely small, but the coin has gotten so little attention that I suspect there hasn't been significant load yet. I'm very curious to see how it will perform under load. I think its design actually makes it more efficient when there aren't transactions, because nothing is added to the blockchain (actually termed block lattice here, but using blockchain generically to refer to any cryptocurrency's core data), unlike in the conventional / Bitcoin model where blocks are being generated whether or not there are transactions in them. Of course that doesn't matter much when there are tons of transactions, as on Bitcoin currently, but, for instance, in Nyancoin, we accumulate tons of empty blocks all the time, where Raiblocks would just wait for more transactions. However, again, under load perhaps it could start growing "too quickly" by some metric, or eventually reach the point where it starts losing users because of the requirements of running a full node.
I think it will be very interesting to see how this turns out in practice.
[And it's certainly going to be interesting to see how it goes. So far, it's still working. Which is better than I'd hoped or expected.]
The coin is relatively young but even for a young coin it's not a huge community. But there is clear discussion and interest both on BCT and on their Google Group. It looks like a healthy start to me.
[As per my comment above: Fairly strong and growing. Good memes. Slightly drunk on euphoria currently. Seems well-intentioned generally: looking to try to have some caution mixed in and putting up a bug bounty and that sort of thing. Still has a little bit of some of the common negative characteristics in crypto communities but this may be due to growth from outside communities overwhelming the local culture temporarily more than anything.]
 https://bitcointalk.org/index.php?topic=1208830.0 - Initial announcement, didn't get much attention apparently. Also, this thread mentions a built-in block-explorer with a rich list. I don't have a working client to access this at the moment but that's pretty cool.
 There are 2128 total units, and a rai is 1024 total units, so total supply should be about 3.4 x 1014. https://github.com/clemahieu/raiblocks/wiki/Distribution-and-Mining Distribution has been going since about November 2015, so I would expect about one-third of the initial 50% to be distributed. The block explorer seems pretty primitive; it just takes a hash. No overall stats. So I'll use that one-third of the initial 50% estimate. So about 5.7 x 1013. Note by comparison that the faucet gives 108 coins at a time currently.
Actually, this comment puts the amount of rai in circulation as 4,763,023...that can't be right, that many Mrai I think? Yeah, 1030 stated as divider there. So 4.8 x 1012 rai in current circulation.
 https://groups.google.com/forum/#!topic/raiblocks/PSbX_onjLfU - This topic discusses it a bit. Also comments from meor in this thread
However, I have also paid 100 NYAN for 100 Mrai. This is basically a test transaction, but 1 NYAN for 1 Mrai (106 rai) would imply a marketcap of 4.8 million NYAN, or about 0.34 BTC in current circulation. I had initially thought this was higher before recalculating with the actual amount circulating as per ; may also have screwed up the math initially or here.
 https://docs.google.com/document/d/13s6BKzRq9oD5Me55JBRzR7BdvjJ44QKqPu2lf-JsAlU/edit - whitepaper ; each transaction could be thought of as its own block if I am grokking this right. It goes through as fast as the network can handle it. There is no fixed interval or period.
 I believe https://raiblocks.net/#/block-explorer is the only block explorer so far and it only supports entering a hash, so I don't have a way to determine the transactions in the last 24 hours.
Best for crypto trading Binance. Welcome dear friends! On this site, you can collect a lot of Bitcoins, Dogecoins and Litecoins from various faucet sites, that distributes Satoshi after a certain time, and from other sites working with Bitcoin. You can collect all day, and get more than 200,000 satoshi per day. You can easy generate your list of favorite sites, add new sites to the system (if ... Xapo is an intuitive and secure Bitcoin wallet system that operates online for storing profits from xapo faucet list . The Xapo Wallet provides a way to manage your funds when you want and where you want.. The Xapo Wallet operates through a mobile app and online and includes the ability to transfer funds to and from the Xapo Vault. Faucet Status Faucet Name Coin Name Faucet Payment Faucet Timer Faucet Referral Faucet Details Minimum Withdrawal Withdrawal Fee Claim Faucet; Paying: Freebitcoin Hot: Bitcoin (BTC) Direct: 60 Minutes: 50%: 0.00030000 BTC: 0.00003000 BTC: Claim: Paying: Cointiply Hot: Bitcoin (BTC) Direct: 12 Hours: 25%: 0.00050000 BTC: No Fees: Claim: Paying ... Bitcoin Faucets in one Lucrative Crypto Faucet List. Earn Free Bitcoin from many BitCoin Faucet List 2020. If you do not have a cryptocurrencies wallet yet, you can install one of the best desktop crypto wallet by clicking the link below. You can trade Cryptocurrencies against Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) or Tether (USDT). In this example, we will choose BTC. Just below, you can see the list of currencies that you can trade for BTC. Click on the currency you want to buy or sell. It's also possible to search direclty the currency you want (Orange on the picture). You can see the choosen currency on the top ... Bitcoin faucets are a very popular theme within the various crypto communities around the world. They receive both a lot of praise and backlash.Some people love them, others think that they are nothing more than a scam. Well, in this guide we are going to try to find out not only which group is right, but also look for the best Bitcoin faucet available - assuming that it’s legit, of course. List of Bitcoin (BTC) faucets paying to Faucetpay microwallet List of Bitcoin (BTC) faucets paying to Faucetpay microwallet ... Bitcoin Faucet Game... 60 Minutes : 0.000000 USD 3 Users : 100%. Claim: GoldcoinFaucet... 60 Minutes : 0.000000 USD 6 Users : 75%. Claim: Satoshi4free - NO S... 5 Minutes : 0.004242 USD 221 Users : 100%. Claim: Iron Faucet ... 5 Minutes : 0.043828 USD 2146 Users : 86% ... Create a wallet on Coinbase or Binance. Bitcoin is a payment system introduced as open-source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a ... Ultimate Crypto Faucet List. I thought it would be helpful to compile a reliable list of good crypto faucets that actually pay people and are not complete scams. Earlier i did massive list of Crypto Webminers and also GPU Mining list if you are interested in alternative ways to make crypto i recommend checking those out. If you have suggestions or want paid faucet listing on this article ... Captcha-based faucet: In this type of faucet, the player has to solve captcha based questions to claim and earn bitcoins. Which Bitcoin faucet is the most reliable and efficient? In terms of overall profitability, speed, and our experience, we believe that Freebitco.in is an ideal choice for beginners.
[index]          
I will show you how to trade on Binance with bitcoins obtained on the Coinpot platform in hand with USDT . USDT is astable coin (1 USDT = 1 USD). USDT is astable coin (1 USDT = 1 USD). Faucet pay link https://bit.ly/39BJXQO Binance link https://bit.ly/34Bh46B Giottus link https://bit.ly/2xigr5t CoinDCX link https://bit.ly/2UULPA2 Expresscrypto website auto claim bitcoin termux, auto claim buzzbreak, coinpot auto claim bot, coinpot auto claim bot 2019, auto claim coinpot on android, coinpot auto claim no captcha, auto initiated claim cases ... Super and fast. The best DOGe faucet ever Earn DOGE and exchange on BTC. In FaucetHub. Link faucta https://goo.gl/G6Hwuy Link FaucetHub https://goo.gl/cPxu... Earn free bitcoin. New website to earn free bitcoin. Earn free bitcoin without investment. Earn free bitcoin every hour. Earn free bitcoin without solving captcha. New free bitcoin faucet. New ... Solve Captcha Earn Free Bitcoin. Today I am going to share a website with you from which you will able to earn free bitcoin just by solving captcha. Unlimited free bitcoin earning opportunity ... How to Play Multiply BTC Game, Freebitco in, Bitcoin Faucet, Multiply Btc Trick https://goo.gl/Zx2hZP Cryptocurrency Exchange Platform, Binance, daily cryptocurrency trading, buy sell ...