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.
The Bitcoin faucet system contains an overall pot, and times the intervals that users can mine in order to keep it balanced. Faucets are free to use and therefore ideal for anyone who wants to start earning extra with Bitcoins. New Faucets List. Here are some free Bitcoin faucet sites that are popular in 2015. The variety is huge, and even ... Reviews about site btc-faucet.com, Bitcoin. Biggest free Bitcoin / Dogecoin / Litecoin / DASH faucets rotator list in the world. ... Best for crypto trading Binance. Present value. Prices from Coinmarketcap.com. Reviews about site btc-faucet.com. like site 68 dislike site 81. disabled visit. cryptocurrency Bitcoin now pays No Disabled in: 04.02.2017 05:39 there were failures at payment or it ... We are happy to present the BitcoinsInIreland.com Mining Pool Rankings for February 2015. Data has kindly been provided by Blocktrail.com. 4234 blocks of 25 bitcoin each, a total of 105,850 coins mined, worth €28,713,929.50 when using the Google bitcoin price at time of publication (€271.27 / 10/03/2015). Discus fish‘s long standing lead has abated somewhat with 703 blocks found, with ... BTC Faucet 3 BTC Faucet 10 BTC Faucet 11 BTC Faucet 12 BTC Faucet 13 BTC Faucet 14 BTC - direct payment in wallet min 1000 BTC Faucet 4 BTC Faucet 5 BTC Faucet 6 BTC Faucet 7 BTC Faucet 8 BTC Faucet 9 STEEM STEEM USDT USDT USDC USDC ETH ETH Faucet 1 ETH Faucet 2 ETH Faucet 3 ETH Faucet 4 ETH Faucet 5 TRX TRX TRX Faucet 1 TRX Faucet 2 TRX Faucet ... 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 ... IOTA entered the cryptocurrency market around 2015 under the IOTA foundation. The IOTA foundation is a non-profit organisation, and it is responsible for how the network has continued to grow and to make any strategic partnership. The company has grown and formed amazing partnerships with some of the biggest companies, like Volkswagen, Bosch, Samsung, and Fujitsu. 1. What is an IOTA faucet? An ... Moon Bitcoin is another veteran faucet that has been around since 2015. The faucet allows you to claim satoshis every 5 minutes, with the average claim being around 10 Satoshis. You can also run CPU mining in the background to increase your claims. Moon Bitcoin uses CoinPot (similar to BonusBitcoin) in order to pay out users. CoinPot has a ... 2015 saw expanded interest in bitcoin, but the year saw the price tank. January 14th saw the price drop to $178, although it rebounded up to the low $200’s. Around the time of the Grexit discussions, and Greek membership of the referrendum, there was a lot of chatter about bitcoin being the saviour of Greece by summer which. However, this seemed to have little impact on it. However, a ... How to build a Bitcoin faucet; How to make money from your Bitcoin faucet; How to get traffic to your Bitcoin faucet; How to protect your faucet from spammers and bots; 3 faucets to follow; This post was originally written on November 2015 BUT I’ve been updating it constantly to stay relevant. The main things that changes since then is that ... ewer - List of Bitcoin Faucets Where can I get free bitcoins? The answer is bitcoin faucets! Faucet sites usually contain ads and you will be rewarded for that. All you have to do is register on this sites and claim free bitcoins or other crypto coins. LEGIT HIGH PAYING FAUCETS. Coin Main features; BTC maker NEW! Bitcoin Free Bitcoins every hour. Level up system. Free Bitcoin: Bitcoin Win up ...
[index]          
So, on ceyptoprofits.com You can find complete tutorial on How to use coinpot faucet list. What You will learn from this Coinpot Faucets video tutorial: Introduction to the Guide on How To Trade ... HI FRIENDS HERE IS ONE MORE AMAZING FAUCET WHERE U EARN BINANCE TOKEN AND BAT TOKEN FREE SO FOR MORE DETAIL WATCH FULL VIDEO BEST CHANGE FAUCET EARN UPTO 1000 SATOSHI PER CLAIM https://www ... All the burst faucets at once, claim your free burstcoins now ! burstcoin faucet burstcoin faucet 2017 burstcoin faucet 2018 burstcoin faucet list burstcoin faucet working free burstcoin free ... This video is unavailable. Watch Queue Queue Vera Trading: Live Bitcoin BTCUSD Price Chart and Live Bitcoin Trading with Crypto Robot DeriBot. Vera Trading 294 watching. Live now bitcoin faucet ,bitcoin faucet list ,highest paying bitcoin faucet ,bit faucet ,faucet bitcoins ,best way to earn bitcoins ,best bitcoin earning sites , earn 1 bitcoin per day , where to earn ... Make 0.5 btc daily with best bitcoin faucet list http://thebestbitcoinfaucetlist.blogspot.com/