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README.md

Rapids-V2-Logo-Side-Writing

Rapids staging tree 3.4

GitHub

https://RapidsNetwork.io

What is Rapids?

Rapids is a digital currency that enpowers users to send instant payments anywhere in the world with the use of peer-to-peer technology which operates with no central authority: managing transactions and issuing money are carried out by the Rapids network.

License

Rapids is released under the terms of the MIT license. See COPYING for more information or see https://opensource.org/licenses/MIT.

Specifications

Parameter Specification
Block Time 60 Seconds
Max Coin Supply 30,000,000,000 RPD
Premine 20,000,000,000 RPD
Masternode Collateral 10,000,000 RPD
Reward Rate per block MN 65%. POS 35%
Halving Cycle 4years (2102400 blocks)

Reward Distribution

Block Height Reward per block
1 20,000,000,000 RPD
2-2102401 3567.352 RPD
2102402-4204801 1783.676 RPD
4204802-6307201 891.838 RPD
6307202-8409601 445.919 RPD
8409602-10512001 222.959 RPD
10512002-Infinite 111.480 RPD

Staking

The Rapids Network utilizes the Proof of Stake mechanism to achieve distributed consensus. The PoS algorithm ensures the creator of the next block in the chain is chosen through random selection based on various combinations of weight and age. In contrast, Bitcoin's Proof of Work mechanism utilizes mining to computationally solve intensive puzzles to validate transactions which then creates new blocks in the chain.

Masternode

A masternode is a server connected to the blockchain network which guarantees a certain level of performance and functionality, and offers governance voting and funding proposals to masternode operators.

Anyone can operate a masternode and the objective is to further decentralize the blockchain network. To avoid excessive masternodes, proof of ownership requires 10,000,000 RPD to be retained in a transparent manner. If the owner spends or moves those coins, the masternode no longer funtions and payments cease.

Masternodes are paid by the network for the services they provide. As more masternodes are created, the duration between payments increases. Payment selection is always random due to the selection algorithm, but in the long term all masternode owners should receive similar payments. If a masternode stops providing services to the network for more than one hour, it is removed from the list until normal service resumes.

These masternode servers hold a full copy of the blockchain, and thanks to the reward system, enough masternodes will always be available to provide the developers with a platform to quickly deploy any new decentralized feature. This is an incentivized system of distributed servers working around the clock to assure the network can scale more efficiently and deploy services more rapidly than a blockchain run entirely by unpaid volunteers.