On November 27th, 2021, RChain‘s founder Greg Meredith and blockchain scientist Atticbee were invited as guests to an AMA hosted by the Hoo Exchange. Hoo is a Dubai based innovation driven crypto exchange and has their in-house developed public chain, HSC, built for the global cryptocurrency market. In this session, Greg Meredith and Atticbee shared the latest developments in RChain and remarkable ideas about the future of the blockchain and metaverse.
Built as A Coordination Technology, Instead of Payment Platform
According to Greg, RChain focuses on blockchain as a coordination technology to provide a means for global coordination as conditions get more and more severe due to climate change. RChain is designed as a scalable global computer and storage mechanism, rather than a payments system. It is impossible to build a general purpose computer out of a cash register, while to build a cash register out of a general purpose computer is like a walk in the park.
This is the first blockchain that scales linearly. This means that as you add nodes/hardware it gets faster, not slower. The current test data shows that the testnet gets roughly 1,000 tps per node per CPU. So a network of 10 nodes with 10 CPUs each gets 10,000 tps. 20 nodes with 20 CPUs each gets 20,000 tps, etc. Data can be realistically stored, updated, and searched on-chain.
RChain’s smart contract language Rholang, is a concurrent transactional query language, reconciling the best of SQL and NoSQL. It means one can write sophisticated queries to search stored data, which distinguishes itself from systems like IPFS. Smart contracts can be statically checked for concurrency and security errors. So, errors like what caused the DAO bug will be caught at compile time not
