Rapids staging tree 3.4
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.
|Block Time||60 Seconds|
|Max Coin Supply||30,000,000,000 RPD|
|Masternode Collateral||10,000,000 RPD|
|Reward Rate per block||MN 65%. POS 35%|
|Halving Cycle||4years (2102400 blocks)|
|Block Height||Reward per block|
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.
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.