The blockchain space is evolving fast, within just a decade we have gone from the first generation Bitcoin protocol, to the second generation Ethereum platform, to today when a new breed of blockchains are being built. RAYS Network is a leading next generation blockchain that aims to revolutionize user experience in the cryptocurrency world by solving common drawbacks of today’s networks.
Blockchain adoption is growing fast but still, there are limitations in existing designs that hold it back. The industry needs a blockchain which should be fast, low transaction cost and security. To solve these issues we are leveraging the latest innovations in protocols, encryption technology, and networked design. We present a solution that works both as a secure and private blockchain for industries, and a low cost and fast cryptocurrency for general users.
Ultra Fast Transaction
RAYS Network is based on an innovative Customized Delegated Proof of Stake or C-DPoS, a robust and flexible consensus protocol, it is the fastest, most efficient and decentralized, protocol known to date. C-DPoS is an extended version of DPoS with inclusion of trusted and efficient labels being assigned to best-performing Delegates. Deterministic selection of block producers will allow transactions to be confirmed in an average of just 1 second, enabling the network to process upwards of 10,000 transactions per second.
Through the internal voting of our development team, we unanimously chose that our blockchain network will have the zero transaction fee, which means that all transactions carried out by RAYS Network will have zero costs, this makes RAYS cryptocurrency well position to deal with high-volume microtransactions at large scale.
Privacy and Security
Our network is built on a Bulletproof algorithm which has many advantages such as reducing the block transaction size greatly – shrinking the size of cryptographic proof by 10 X. By refining it in our unique way we will be able to achieve high network scalability and keep the highest standards of safety at the same time. The implementation of one of the two additional protocols such as TOR or I2P will allow our users to enjoy total privacy. Thanks to these two protocols, none of the transactions can be traced in any way.
General users require a fast and secure cryptocurrency. Enterprises need a secure and a private blockchain, our solution is a is a Flexible Blockchain Networks which may switch between general and enterprise usage as required to meet end-user needs. Our technical team is working on a network design that can work as both a secure and private enterprise-grade blockchain for industries and an open, transparent and fast cryptocurrency for general usage.
Multi Transaction System (MTS)
One of our planned blockchain features is a one-click Multi-Transaction System (MTS) where a wallet may send a transaction to many other wallets at a single click of a button. The head of a company can send payments to all of its employees using just one click. This feature is not limited to digital currency payment, it has hundreds of possible applications, for example, one user may send data to hundreds of other users.
At Rays Network we are dedicated to innovation, we aim to partner with leading research and development institutions around the world to build a blockchain network that is continuously evolving and innovating to meet our users’ needs. Sufficient progress has already been made and a Minimum Viable Product (MVP) has already been developed to prove the FBN concept.
RAYS Network is the first blockchain ecosystem that will support the use of a Digital ID. Existing blockchains have a public key or wallet address and a private key to open that wallet. If the private key is compromised, the wallet is compromised and the user can lose its crypto assets. RAYS brings an end to this problem with the use of a user-chosen Digital ID. Even if someone is able to access the wallet, the hacker can not do any transaction without a Digital ID. Digital ID is strictly required to make a transaction.
A global team of developers, managers, marketers, business operations, partners and an allstar team of advisors, RAYS is growing fast come join our telegram network.