RChain RHOC

$0.0190
Market Cap $ 7.085 MM (#376)
24h Volume $ 154.550 K
Chg. 24h: 6.59%
Algo. score 3.4/5  (#258)
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RChain News

Timestamped Surprise AMA 03/12/2019 breakdown

Just finished the AMA breakdown: [0:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=0s) Welcome from the hotel room in Hong Kong [1:40](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=100s) Shelley testnet very likely this month, V1.5 also on schedule, Daedalus backend [4:30](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=270s) Ledger support soon (maybe April 2nd because Ledger is releasing new apps on the first Tuesday of the month) [6:05](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=365s) The 10 watt full node Raspberry Pi, Rock Pi [7:25](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=445s) Deployment in Ethiopia, coffee supply chain [9:25](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=565s) Cardano interoperability progress [11:15](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=675s) Some sort of quantum resistance this year (epic closing) [12:20](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=740s) Interoperability lightning interledger (ILP) [13:18](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=798s) Samsung crypto wallet in S10 [14:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=840s) Tangem card, offline transactions, trusted platform module (TPM) [16:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=960s) Ergo platform [17:23](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=1043s) Flyclient paper vs NIPoPoWs (Non-Interactive Proofs of Proof-of-Work) [20:17](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=1217s) Endor (predictive analytics venture) [22:02](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=1322s) Rant on the "first trillion dollar cryptocurrency" misquotation. [23:35](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=1415s) A tiff with Chico Crypto [25:44](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=1544s) BLISS signatures and not being quantum resistant [26:20](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=1580s) Transaction vs smart contract, UTXO vs account style record keeping [31:54](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=1914s) Rant about release date estimates. [36:36](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=2196s) Enigma project, secret smart contracts [38:33](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=2313s) Other IOHK projects like RS|Coin and Qeditas [41:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=2460s) Strategy for teaching 10,000 plutus developers [43:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=2580s) Working with different universities [43:43](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=2623s) Scientific research on Rchain / Rholang (programming language) [48:48](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=2928s) Staple coins [49:49](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=2989s) Since roll out is a little slower then originally anticipated do you plan to continue after the 2020 funding? (after 2020) [50:10](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3010s) Would you join a PoS vs PoS discussion with Kyle Samani and Will Martino (Kadena) [51:40](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3100s) Cardano in Hawaii [52:36](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3156s) What Charles studied [54:23](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3263s) Lighting network and possible Cardano integration [54:41](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3281s) How do you work with formal methods? [1:00:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3600s) Netflix recommendations [1:00:48](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3648s) Single thread performance transactions per seconds with Shelley (TPS) [1:02:10](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3730s) Ranting about someone doubting the peer reviewed papers. [1:03:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3780s) Smart contracts making deep inroads into legally binding contracts [1:05:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3900s) Token 2049 Conference [1:05:26](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3926s) DC or Marvel [1:05:54](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3954s) What happened to the suitcase? [1:06:20](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=3980s) What's the main income of IOHK? [1:06:40](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=4000s) Tone Vays [1:08:24](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=4104s) When Joe Rogan podcast? [1:09:30](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=4170s) Multiple brief rants [1:12:45](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=4365s) What about writing a spec after you finish coding? [1:14:25](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=4465s) Haskell has an extensive learning curve or how to introduce a new platform [1:20:00](https://www.youtube.com/watch?v=f-rqaTLwWgs&t=4800s) The Voynich manuscript

12 days ago

RChain cooperative lost an estimated $4.1M in 2018

RChain cooperative, the blockchain platform that was hoping to rival Ethereum, released financials Monday including an income statement for 2018 and a balance sheet dated to February 2019.The post RChain cooperative lost an estimated $4.1M in 2018 appeared first on The Block.

20 days ago

RChain (RHOC) Cooperative Faces Insolvency and May Need to Liquidate RHOC Holdings

A closer look at the October balance sheet for the RChain Cooperative suggests that the organization is insolvent and may need to liquidate its RHOC holdings in order to remain in operation. As the liabilities the organization is currently carrying greatly exceed its liquid assets, there are many allegations that cooperative is “functionally bankrupt” and needs drastic measures to stay solvent. On top of that, the daily volume for RHOC ranges from $90,000 to $400,000, which is not sufficient to liquidate the 480 million RHOC the organization is holding without causing major slippage. (JF)

a month ago

Boom, bust and blockchain: RChain Cooperative’s cryptocurrency dreams dissolve into controversy - GeekWire

The West Seattle home that serves as base of operations for RChain Cooperative is currently listed for $1.35 million. (GeekWire Photo / Ian Edwards) The two-story house sits on a quiet street in the Fauntleroy neighborhood of West Seattle, a few hundred yards from Puget Sound. Clad in red cedar shingles with a well-kept yard,

a month ago

Let's Talk About Parity: Stopping the Mob Mentality

/u/DCInvestor recently made an [excellent post](https://www.reddit.com/r/ethereum/comments/ar2xxh/on_the_economic_incentives_of_parity_for_ethereum/) about the incentives of Parity, but I was disappointed by the comments. As someone who has taken pride in the community's collaborative and accommodating nature, it was heartbreaking to see people immediately reach for their pitchforks about Parity. It gave me flashbacks to how the Bitcoin schism started. Can we do better job as a community to have even-headed discussion? Like /u/DCInvestor, I'm also not anti-Parity. I respect what they've done for the community. I also hope that they can continue to contribute as they have done so willingly in the past. Like /u/DCInvestor, I work in an industry that requires thorough disclosures and avoidance of conflict of interest, so I understand the need to align incentives between parties in the market. I also empathize with those frustrated about Parity recently. It's unfortunate that /u/5chdn has made strident remarks against the ETH2.0 roadmap and that Parity has been the source of some recent bugs in software. That being said, I believe we're actively destroying the community when we're holding up Parity and its developers to a standard of virtue that will never be realistic. Once we start the Salem Witch Trials for anyone who has any hint of a conflict of interest, we will have no community left. We will become like Bitcoin Core all over again. Here's the unpleasant truth: conflict of interest will always exist, especially in a community like Ethereum that espouses to not be chain-maximalist. Don't hate the player; hate the game. We've always ENCOURAGED projects like Polkadot and others like Cosmos. If you want to give Parity crap about starting Polkadot, you also have to start questioning the community's values for a multi-chain future. In fact, many of the comments in the attached thread did exactly that. Now, I believe it's fair to be skeptical of this approach, especially when naively following it will encourage bad actors, but I also think we need to keep in mind why we created this approach in the first place. It comes down to innovation. Innovation in the Bitcoin community ground to a halt when people began branding every alternative take as a shitcoin. Conversely, research in areas adjacent to Ethereum has exploded because we've continually welcomed teams like EOS, IOTA, Cosmos, and Polkadot to build ERC-20 tokens on top. Their research, successes, and failures will benefit Ethereum just as Ethereum's scale benefits them. Another unpleasant truth: the ETH2.0 development is still extremely experimental and fraught with risk. ETH2.0 developers and the EF may have a clear vision about Ethereum's future, but there's no guarantee that it'll come to fruition. What if the current sharding spec fails and we have to redesign it? Wouldn't it be better to have adjacent experiments with concrete results that can point us in the right direction? I believe many people here have an incorrect perspective of research-driven projects. Ground-breaking research flourishes an open and accepting environment for competing visions, not with a couple of researchers burying their heads in a problem with monomaniacal focus. And let's be honest: Ethereum needs the research just as much as everyone else. It's easy to accept these principles when Ethereum is doing well, but it's most important to accept them when Ethereum is not doing well. And yes, Ethereum has not had its best few months lately, at least in the court of public opinion. The delay of Constantinople, continued stagnation of price, and concerns about roadmap completion have made it hard to stick to our open-minded philosophy. However, this does not mean we should push our frustrations on developers and hold them to unrealistic standards. One final uncomfortable fact: Parity is not the only one with conflicts-of-interest. Vlad Zamfir sits on the board for RChain, a separate blockchain with no affiliation to Ethereum. He presumably has a big stake in RChain, and he's also been critical of Ethereum in the past, calling it shitty software. Wouldn't he stand to benefit if Ethereum fails as well? Ethereum's research partners for Zk-SNARKS have Zcash. Could their work with us merely be a ploy for further PR on Zcash? I bring up these examples not because I think there's a "slippery slope." This is a logical fallacy. I bring these examples up because I believe the most productive line of conversation first starts with revisiting our community values and standard of ethics before we give Parity a fair chance at explaining themselves. As we consider Parity's position, we need to apply their standard of behavior to all the other people who are not "under trial." We don't want to set bad precedents that then lead us down the dark road of radicalization. Parity also deserves the benefit of a doubt because they've contributed to the community for so long even before the $5M gr

a month ago

Vlad Zamfir is joining a VC-backed startup racing to launch the Casper upgrade ahead of Ethereum

Vlad Zamfir, one of Ethereum’s lead researchers, is stepping back from the blockchain empire to collaborate with Casper Labs, an R&D startup building a “fully scalable blockchain”, The Block can confirm. Casper Labs will be an indirect competitor to Ethereum as it endeavours to deliver the much-anticipated Casper protocol upgrade. Zamfir was leading a popular version of Casper (CBC) at Ethereum, helping the network to rely on stake rather than computing power to achieve consensus, as well as addressing scalability issues. But while Ethereum’s deadline for the CBC upgrade is not for another few years, Casper Labs is focused on offering the upgrade as soon as possible - offering Zamfir a fresh, more focused platform. “Ethereum is a project that is already up and running. It’s always harder to upgrade like that; it’s like changing a car engine when it’s running, it’s a lot more complicated,” Casper Labs’ CEO, Mrinal Manohar, told The Block. “Vlad just wants the world to switch to proof of stake. He’s still very supportive of Ethereum because they’re working on Casper [the protocol]. But we have a dev team that’s solely focused on accelerating it.” Manohar said that Zamfir has so far signed an IP licensing agreement and a letter-of-intent with Casper Labs, while a final contract is pending. Casper Labs will be Zamfir’s main financer but he will not be an employee, the company said, and all of his research will remain fully open-source. “Casper Labs is making a multi-year, multi-million dollar commitment to continue to fund Zamfir’s research into CBC Casper,” the company said. “We are very supportive of any project using [Vlad’s work on Casper]. We will have a fully public GitHub and fully public research materials,” added Manohar. “We’re not trying to bootstrap the research. Obviously, we’re hoping to bring it to market first, but we’re not believers in exclusivity.” Manohar clarified that the Ethereum Foundation is not a direct investor in Casper Labs, but will continue to partially fund Zamfir’s work. Casper Labs The blockchain start-up, set to officially launch next month, has so far received verbal commitments of $20M in its ongoing Series A round, backed by top-funds like Galaxy and BlockTower. In addition, C-level executives have committed personal funds, including its chairman Scott Walker, who is also the President of DNA, a major crypto investment firm. “We’re burning 300k a month. We’ve spent a little over a million already. We’re all paying for it personally,” Manohar said. Although Casper Labs is up against time - and by extension, Ethereum - its founders say they want to contribute to the wider blockchain sphere. “There are research components that a lot of blockchains share in common,” Manohar said. Meanwhile, Walker added that he had invested in a wide range of projects as well as Casper Labs. “I believe the winning blockchain will have a value in the hundreds of billions of dollars. We have no idea what the winning blockchain [or protocol] is...I love Ethereum, I love Bitcoin. I’ve made additional investments in literally a dozen other protocols [including EOS]. But I’ve always believed in Vlad, and I’m hoping to help Casper Labs as much as I can,” he said. Vlad Zamfir Zamfir first discovered Ethereum in early 2014. He attended various meetups alongside core developers like Vitalik Buterin and Charles Hoskinson. They subsequently invited Zamfir to join the Ethereum Foundation’s development team in April of that year during its inaugural intake, alongside co-founders Vitalik and Gavin Wood. While initially skeptical of proof-of-stake (PoS) as a consensus algorithm, Zamfir eventually adopted the idea after speaking with Ethan Buchman, an Ethereum developer at the time, one evening. “I connected the dots and internalized the power of security deposits for proof-of-stake. This was the night that I became convinced that PoS would work, and that making it work would be a huge amount of fun,” Zamfir wrote in a Medium post. Zamfir proposed the Casper upgrade in August 2015, foreseeing a proof-of-stake implementation that would “allow for faster block times than is possible with proof-of-work consensus.” He is known as an opensource purist, with his Ethereum IP publicly available. The move to Casper Labs could mean he focuses less on formalizing Ethereum’s governance process and more on boosting its security. Zamfir is also rumoured to be resigning from the board at RChain, which The Block reported to have fallen into financial difficulties last month. Zamfir could not be reached for comment. The post Vlad Zamfir is joining a VC-backed startup racing to launch the Casper upgrade ahead of Ethereum appeared first on The Block.

2 months ago

The value of owning RHOC

You really cannot compare RChain with other blockchain projects. RChain is the only project having a concurrent virtual machine. It is the only project with a concurrent programming model. It is a simple fact that reflective process calculus can maximize parallelism with algorithmic certainty. The other concurrency model the Actor model, serializes messages limiting formal concurrency constraints introducing errors and needlessly serializing execution reducing throughput. Without formal certainty of process orchestration of a system you cannot guarantee its behaviour. RChain is the only trustworthy world computer design I am aware of. The RHOC (turned REV) has great utility both as a store of value, earning validator rewards, and as a token that runs programs on the rchain world computer. RChain is governed by a cooperative of rchain users. Users are also rhoc holders and the value of the currency is in their interest. The more stake is distributed among users the more secure the network will be. As users and stakeholders it is a world computer we can own and control. RChain (alpha) is running and it is fun to use the language Rholang which has applicability far beyond rchain for orchestrating concurrent processing. Apps are being built. We will be users and builders having a world computer algorithmically constrained to obey our rules. I suggest coop members and those who might join buy as much rhoc as they can afford at today's price to own stake in the rchain world computer and earn validator rewards forever paying for usage. Crypto has been hit hard in 2018 creating the potential for a recovery in 2019. Fear, uncertainty and doubt has been promoted for many good tokens like the rhoc depleting the treasuries of good project to the point near bankruptcy. This will certainly cause delays in delivery or failure of many projects. Rchain will survive however because there is nothing else like it and because its potential value has already been demonstrated. By traditional standards it is a good buy because of its low market cap and the value of what has been produced already under the leadership Greg Meredith. That there has been division in the community triggered by the FUD can be good as all the parties have an interest in the value of the RHOC and competition can be a positive thing, creating better solutions and mitigating the risk. In the light of fall of the RHOC wiping out much of the RChain treasury the RChain investment in Rsong is considered by many to be Greg Merideth's folly. However the sound is in fact significantly richer sound than legacy technologies and I believe it is just a matter of time before the artists and market recognize that fact. Assuming it can be delivered on the rchain mercury release I agree with Greg that it can be a good high volume low risk application stepping stone to riskier applications on venus. You might think of rsong like the itunes of rchain, an ipod like mercury predecessor to the do it all iphone like the rchain venus world computer. We might not be comfortable with the market risk which most consider high. But what of what we are doing is not risky? Greg is largely responsible for raising the funds for Rchain and has led the successful development effort. He deserves some leeway in spending the funds. We can admonish greg for taking the risk but I suggest it is in our interest to support him in promoting rsong such that it might succeed. The austerity resulting from the fall of the rhoc means there can be no such risky deals in the foreseeable future. The real value in my view is that RChain is a cooperative with members motivated to make it succeed because they plan to use of the platform to enable trustworthy decentralized computing enabling unprecedented cooperation at scale. I am confident rchain will succeed with or without investor support giving utility and thus value to the RHOC ultimately. In the competitive dog eat dog world there are those who want rchain to fail and are spreading FUD in the hopes of killing it. But it is succeeding in spite of them. There is the opportunity today to buy in at RHOC bottom prices and own a piece of the RHOC.

3 months ago

Report: RChain Could be in Troubled Waters

Per a Crypto Insider report, RChain is one of the crypto projects that could be falling apart. The coin, which was once ranked in among the top thirty by CoinMarketCap, is currently ranked $199th. Additionally, its price has dropped to $0.03 from $3 recorded in January. Per The Block's research, RChain made questionable moves which could have resulted in its failure. This includes a $23.5 B investment on music app RSong, based on Immersion Technology, and the purchase of a $1.5M Seattle house for cooperative members. The CEO has come to deny the allegations saying Immersion technology is an essential component to RSong. Additionally, he stated that the company is not bankrupt since their liabilities and tax estimates have been overstated. He also thanked the RChain community for the milestones passed in 2018. (KE)

3 months ago

RChain cooperative reportedly ‘functionally bankrupt’ after questionable deals, with investors and developers losing faith

RHOC was an investors’ dream. Ranking 30th on CoinMarketCap and led by an all-star team including Vlad Zamfir, the coin was well on its way to stardom as the token behind RChain - the blockchain platform hoping to rival Ethereum. No doubt it stood out among the likes of Tezos and EOS, focusing on implementing the first proof-of-stake validation and eventually hosting multiple decentralized apps (DApps) to address Ethereum’s scalability issues. But today, RChain is reportedly facing a major budgetary shortfall and investor backlash over its alleged financial “mishandling”, including reportedly incomplete balance sheets and the purchase of a million-dollar house, according to documents reviewed by The Block. Management faces scrutiny over a $23.5 million acquisition, for which RChain still owes liabilities of $15m. Meanwhile, its lead developer, Medha Parlikar, quit in October alongside three board members, including CFO, Kate Gonsalves, who resigned on the 7th December. RHOC’s ranking has also dropped from 30 to 211 (accounting for widespread market falls). CEO Greg Meredith told The Block that the RChain’s treasury’s downturn was due to “poor management” by a third-party advisory and “the sharp decline in the crypto market.” But according to four early investors, the problems go far deeper. Several sources asked for anonymity due to potential legal action against RChain, but include members of the Asian investment contingency, who reportedly make up 50% of the total cooperative. They say the group is “very upset” with RChain’s lack of accountability and what they describe as “reckless investments.” And they want answers. Big deals, big debt The first red flag, sources say, was the $23.5 million purchase of a 5-year license for an audio codec by Immersion Networks. Immersion’s technology is helping to build the Rsong app, which allows users to rent songs in high-definition from the RChain blockchain. Investors doubted not only the deal’s relevance to the development of a high-transaction blockchain but also the enormous price tag - given RChain only raised $31 million in its ICO. They also say the full amount was not disclosed to them until two months later. “I’m not saying it’s not a good piece of tech. But it was a crazy amount for what we had. Let’s say you’re building a house for yourself and it’s $1m. But then you find a nice piece of furniture and you blow half a million on it. And now you don’t have enough to finish the house and you’ve completely destroyed the main project you’re working on,” said one investor. “[Greg Meredith] sold the company to investors by saying we would be part of the decision-making process. But he made an investment that was outside his realm of expertise without consulting experts who could give him a strategic vision,” said another. Immersion’s COO acknowledged to The Block that “Immersion is a very small component of the App.” which begs the question: why was such a large amount of money spent? When approached for comment, Meredith defended the purchase, saying RSong would be a “flagship app,” with the Immersion partnership serving as a “marketing deal” by showing it is stable enough to deliver audio data. “The tech is so compelling that artists are literally clamoring to get on,” he said. However, RSong currently only has three songs on it and has been out for over 3 months. Meredith confirmed RChain was seeking to defer payment for the remaining $15.5 million due until it is more liquid. He also hinted the deal would pay off, saying they were in “ongoing negotiations” around Immersion that could make it “immediately profitable.” However, RChain - who sources describe as “functionally bankrupt” and dependent on the deal - may not be in a strong negotiating position. “Even he manages to sell it, to have done it in the depths of the bear market, to take all your remaining funds, to take on debt, is irresponsible. They’ve killed the project,” said one investor. Indeed, the last updated balance sheet, published in October, shows RChain Ltd. is in a USD deficit, with an additional $5 million tax bill estimated. It also indicates they hold over 480,000 RHOC, an extremely illiquid position and whose presented-USD value is grossly inflated given current market prices. It’s unclear what, if any, performance, lockup, or milestone-constraints are necessary to utilize these tokens. “Backroom” deals? Another concern investors have raised is over RChain’s strategic partnership with Pithia, a VC fund enlisted to help build the RChain ecosystem. Pithia was loaned 105 million RHOC tokens in 2017 (then worth more than $1 each) to “find and fund” 12 start-ups, in exchange for keeping 20% of any profits they returned. However, the companies renegotiated the contract in August 2018 with an unusual new clause stating that if RChain failed to launch its central Mainnet platform by March 31st, 2019, Pithia could terminate the contract and keep any remaining RHOC. “That just makes no sense,”

3 months ago

RChain cooperative ‘functionally bankrupt’ after questionable deals, with investors and developers losing faith

RHOC was an investors’ dream. Ranking 30th on CoinMarketCap and led by an all-star team including Vlad Zamfir, the coin was well on its way to stardom as the token behind RChain - the blockchain platform hoping to rival Ethereum. No doubt it stood out among the likes of Tezos and EOS, focusing on implementing the first proof-of-stake validation and eventually hosting multiple decentralized apps (DApps) to address Ethereum’s scalability issues. But today, RChain is in a major budgetary shortfall and facing an investor backlash over its financial mishandlings; stretching from incomplete balance sheets to the purchase of a million-dollar house, according to documents reviewed by The Block. Not least, the management faces scrutiny over a $23.5 million acquisition, for which RChain still owes liabilities of $15m. Meanwhile, its lead developer, Medha Parlikar, quit in October alongside three board members, including CFO, Kate Gonsalves, who resigned on the 7th December. RHOC’s ranking has also dropped from 30 to 211 (accounting for widespread market falls). CEO Greg Meredith told The Block that the Treasury’s downturn was due to “poor management” by a third-party advisory and “the sharp decline in the crypto market.” But according to four early investors, the problems go far deeper. Several sources asked for anonymity due to potential legal action against RChain, but include members of the Asian investment contingency, who reportedly make up 50% of the total cooperative. They say the group is “very upset” with RChain’s lack of accountability and allegedly reckless investments. And they want answers. Big deals, big debt The first red flag, sources say, was the $23.5 million purchase of a 5-year license for an audio codec by Immersion Networks. Immersion’s technology is helping to build the Rsong app, which allows users to rent songs in high-definition from the RChain blockchain. Investors doubted not only the deal’s relevance to the development of a high-transaction blockchain but also the enormous price tag - given RChain only raised $31 million in its ICO. They also say the full amount was not disclosed to them until two months later. “I’m not saying it’s not a good piece of tech. But it was a crazy amount for what we had. Let’s say you’re building a house for yourself and it’s $1m. But then you find a nice piece of furniture and you blow half a million on it. And now you don’t have enough to finish the house and you’ve completely destroyed the main project you’re working on,” said one investor. “[Greg Meredith] sold the company to investors by saying we would be part of the decision-making process. But he made an investment that was outside his realm of expertise without consulting experts who could give him a strategic vision,” said another. Ironically, Immersion’s COO acknowledged to The Block that”Immersion is a very small component of the App,” which begs the question: why was such a large amount of money spent? Still, when approached for comment, Meredith defended the purchase, saying RSong would be a “flagship app,” with the Immersion partnership serving as a “marketing deal” by showing it is stable enough to deliver audio data. “The tech is so compelling that artists are literally clamoring to get on,” he said. However, RSong currently only has three songs on it and has been out for over 3 months. Meredith confirmed RChain was seeking to defer payment for the remaining $15.5 million due until it is more liquid. He also hinted the deal would pay off, saying they were in “ongoing negotiations” around Immersion that could make it “immediately profitable.” However, RChain - who sources describe as “functionally bankrupt” and dependent on the deal - may not be in a strong negotiating position. “Even he manages to sell it, to have done it in the depths of the bear market, to take all your remaining funds, to take on debt, is irresponsible. They’ve killed the project,” said one investor. Indeed, the last updated balance sheet, published in October, shows RChain Ltd. is in a USD deficit, with an additional $5 million tax bill estimated. It also indicates they hold over 480,000 RHOC, an extremely illiquid position and whose presented-USD value is grossly inflated given current market prices. It’s unclear what, if any, performance, lockup, or milestone-constraints are necessary to utilize these tokens. “Backroom” deals? Another concern is over RChain’s strategic partnership with Pithia, a VC fund enlisted to help build the RChain ecosystem. Pithia was loaned 105 million RHOC tokens in 2017 (then worth more than $1 each) to “find and fund” 12 start-ups, in exchange for keeping 20% of any profits they returned. However, the companies renegotiated the contract in August 2018 with an unusual new clause stating that if RChain failed to launch its central Mainnet platform by March 31st, 2019, Pithia could terminate the contract and keep any remaining RHOC. “That just makes no sense,” said one major investor, who in

3 months ago

KuCoin to Support The RChain (RHOC) MainNet Token Swap

In a recent announcement posted on their website, KuCoin told their users that they will support the RChain (RHOC) MainNet Token Swap. KuCoin also stated that they will help all RHOC holders on the platform to complete the process of the token swap. They also advised users to deposit their RHOC tokens on KuCoin so they can automatically swap the MainNet token for them. (VK)

4 months ago

Sketchy things going on at the Rchain Co-op

Sorry, it's quite long. TLDR: I think Greg and the Co-op board (at least some of the members) are probably scamming. ​ I hadn't really been paying attention much to what was going on with Rchain, as I was content to passively hold my stake long term. But after I saw it careen off the front page at CMC I did some looking into what was going on. I listened to the latest debrief video and that was more than enough to convince me to sell. It's already been posted to this forum, but I'll post it here for reference.[https://www.youtube.com/watch?time\_continue=5117&v=0YRmGOCH54M](https://www.youtube.com/watch?time_continue=5117&v=0YRmGOCH54M)The budget short falls start getting discussed at around 47 minutes The immersion buy gets discussed at around 66 minutes. Things escalate from here over the next 30 or 40 minutes. I highly recommend watching this, but I'll try to discuss the main points. Correct me if I'm wrong. \-- They have a budget shortfall. They have enough money to get to the last code commit, but not to do code hardening, launch validator network, work on Venus. The shortfall is not primarily because of the Immersion deal (see below on this) but because of the fall of crypto prices, Greg says. ​ \-- They're having trouble finding buyers of their validator sale. As far as I can figure out, they're selling Rhocs to validators at a steep discount in exchange for them agreeing to validate the network and lock up their Rhocs for six months. ​ \-- They're looking to get some additional financing until the (supposed) big 8 figure sale of Rsong (a dapp owned by the Co-op) comes through. Greg made it sound like the deal to sell Rsong for 8 figures was right around the corner. ​ \--They, I think within the last couple months, purchased licensing rights to a Redmond, Wa based company called Immersion. It's a company with various hardware and software solutions in the music biz. On the video, they didn't say how much they paid and I couldn't find the amount. One caller described the sum as “huge”. Greg says this has the killer features to push Rsong over the top and attract top tier artists to use the platform. Greg said it they would need to get financing either way, but figured he would try this as a way of making money through the improvement of Rsong and it subsequent sale. At another point in the video, it was brought up that there was nearly a sale of close to 40 million dollars to a larger buyer and in the validator sale, but that buyer got cold feet. So when they thought that money was coming in, they thought it was safe to spend money on the Immersion deal. Greg mentioned he has documentation to prove the deal almost went through. To which one caller responded wryly “I'd love to see that documentation”. You really ought to listen to the second half of the video if for no other reason than for entertainment... \--Greg says Rsong has big names lined up to use the platform and he expects a massive amount of users to use the platform in a short amount of time. When one caller suggested it might take time and that adoption was a long term thing, Greg said no, they expect millions of users right away! At one point, he said something along the lines of how they “only” need ten million users. And they'll use the app 10 times a month to make 100 million transactions. ​ \-- Greg says once people see the eight figure sale of Rsong and and the massive amount of users, devs and validators will flock to the network. ​ \-- When callers brought up the idea of replacing more of the board members, Greg said they couldn't because the deal would fall through if they were replaced. ​ \--There is the possiblity of Rhoc collateralized loans to get the company through until the sale. ​ My thoughts: You can come to your own conclusions, but I think Greg and the board are scammers and that there's a high likelihood of financial impropriety going on. My first impression was that they were merely incompetent. It was a bit surreal when they started talking about the quality of Impression's microphone and how it was such a game changer for the music industry. I was thinking to myself, isn't this a blockchain company? Why do suddenly all our hopes rest in this music hardware? Or how could the co-op possibly with money running out think it's a good idea to pour so much money in this completely other direction? And what's the deal with the validator sale? Doesn't Casper have incentives built in so validators will come. That's how blockchain works! And why aren't they coming even with the extra incentives? I've never seen anything like this with any other blockchain launch. Anyway, then it clicked. I've followed many scam companies before (though never been victimized until now) in both the stock world and crypto world and I recognize a lot of the tricks. If we're playing scam bingo, we'd have already hit a blackout. All things I've seen in oth

5 months ago

RChain Updates Testnet Progress, RHOC Rises 13%

There has been a great deal of excitement surrounding the RChain project amid the launch of the testnet, and investors celebrated today’s update. The RHOC coin has advanced 13% in the last 24 hours on trading volume of $730,427. RChain said in a tweet: “Last week, the dev team refreshed the testnet reaching 8,000 - 10,000 comm events per second during the node testing.” Now they are focused on the need to test dApps to make sure the software is running properly. In the update, the RChain team alluded to a new deal that was reached, saying they would provide more details next week. (GT)

6 months ago

Biggest Gainer: RChain Surges by 30.44%

As at 6:42 PM UTC, Bitcoin had dropped below $6500 with several altcoins following suit. Some tokens, however, recorded double-digit gains. RChain was the biggest gainer with a positive price change of 30.44%, within 24 hours. It was trading at $0.302239, with a market cap of $114,367,022, according to CoinMarketCap data. (SK)

6 months ago

Bitcoin Stabilizes Above $6500 as Market Rebounds to $202B

As of 8:37 AM UTC, the market was in green with most coins registering double-digits gains. The positive price changes have pushed the total market cap to $202B, from a low of $187B recorded in the past few days. Bitcoin has stabilized above $6500, by 1.29% on the day; while Ethereum which had declined by 20% a few days ago is now trading at $212.66. Tokens are part of the rally with RChain surging by 48.04% within 24 hours. (KE)

6 months ago

RChain Advances 47% amid Recent Testnet Launch

Most coins are rallying today, as the market cap of the combined crypto market has now surpassed $201 billion. One of the top performers in today’s market is RChain (RHOC), whose value has ballooned by nearly 50% in the last 24 hours on trading volume of $674,715. RChain boasts a market cap of $102 million, and it’s including among the top 60 coins. RChain is a proof of stake-fueled “decentralized communications and storage utility” that in recent days launched its testnet. Eric Miller, the lead developer on the Swytch project, which is a solar-fueled blockchain startup, in a YouTube video today touted the features of RChain, saying “it can capture all the high throughput data we’re getting from all these IoT devices around the world.” (GT)

6 months ago

Dogecoin Gains a Bullish Momentum Despite Declines in the Crypto Market

The crypto market is still struggling to recover after sellers dominated it this week. The entire market cap is currently valued at $205 billion. Bitcoin after a sharp drop found support at $6,400 and corrected upside toward $6,500. It has, however, stagnated after the correction. ETH has depreciated by another 4% and is currently trading below $220. Ethereum is the biggest loser in the top 10. BCH, ADA, and XMR have also plunged by more than 2.5%. In the top 20, Dash has regained 7%, and as of 08:40 UTC, it was trading at $194.18. Dogecoin is also up by 12% over the past 24 hours. DOGE has increased by 120% over the past 30 days. In the top 100, Holo has gained 18% while MOAC and Rchain have registered a double-digit drop. (KE)

7 months ago

RChain Declines by 11.43%: Biggest Loser in the Market

The Wednesday sell-off still has an impact in the market as the crypto market today is again flashing red. Most coins are in the red, with only 5% of the coins in green. As of 7:37 PM UTC, the biggest loser in 24 hours was RChain. At the time of writing, Rchain had declined by 11.43% to trade at $0.288582, according to CoinMarketCap data. (KE)

7 months ago

RChain Cooperative Readies RCon3 Developer Conference in Berlin, Germany

The RChain Cooperative is readying its RCon3 developer conference in Berin, Germany. The event is scheduled to take place Sept. 3-6 across private and public sessions. The event is designed for people who are interested in being RChain validators, devs and architects hunting networking opportunities, and investors. Meanwhile, the RHOC coin is trading down nearly 9% today on volume of $244,000. RChain is the No. 48 cryptocurrency by market cap. RChain Cooperative is planning the launch of the mainnet and token swap to REV coin at year-end. (GT)

7 months ago

Close to testnet launch and " RChain Ecosystem Update Feb 2018" is a sticky post?!

This sub really needs a lot more official RChain love and fast. Reddit has a lot of crypto enthousiasts but if they stumble in a project sub where the last "official" update appears to be from feb 2018 they'll assume it's death. Discord is great for managing the project but it isn't fit for informing and building a larger community. ...

7 months ago

Blockchain Advertisement Platform Lucidity Raises $5 Million

Bringing digital advertisements to the blockchain, Lucidity has raised $5 Million from VC firms. Some of its investors include 3Rodeo, YouBi Capital, CoinUs, Cypher Group, and RChain-affiliated VC firm Pithia. Lucidity is currently developing 'Layer 2 technology,' which is an off-chain solution to solve scalability issues to bring privacy and transparency in the online advertising market. The money will be used to grow the team, and finish developing Layer 2. (VS)

7 months ago

Daily Berminal Brief (8/14/18): Axoni Raises $32 Million From High-Profile Investors

The Market: Cryptocurrency markets have continued their precipitous decline, with the total market capitalization falling below $200 billion for the first time in 2018. Bitcoin (BTC) has remained relatively stable, with a decline of just under 3%. 1) Axoni, a provider of enterprise blockchain solutions has announced the completion of a $32 Million Series B, bringing the total funding till date to $55 Million. Goldman Sachs and Nyca Partners led the round. 2) Coinbase-backed Paradex, a platform from which traders can exchange tokens from their own wallets, has added support for a number of coins including: 0x, AirSwap, Aragon, Binance, Civic, Decentraland, district0x, Huobi, Kin, Kyber, RChain, Storj, and TrueUSD. 3) Binance, the world’s largest crypto exchange, is launching Binance Academy to educate customers on blockchain and cryptocurrencies. (EH)

7 months ago

0x, Kin Among Coins Added to Coinbase-Backed Paradex Crypto Trading Platform

Coinbase-backed Paradex, a platform from which traders can exchange tokens from their own wallets, has added support for a number of coins. Paradex in a blog entitled “toward a million markets” announced it has added a batch of coins, effective immediately. The altcoins include the following: “0x, AirSwap, Aragon, Binance, Civic, Decentraland, district0x, Huobi, Kin, Kyber, RChain, Storj and TrueUSD.” Paradex also added the following markets to Dai coin: BAT, REQ and SNT. (GT)

7 months ago

Zb.com Launches Coin Listing Project for BaerChain, Credit Tag Chain and TrustNote

Zb.com, which is the No. 5 cryptocurrency exchange based on trading volume, has revealed a trio of coins on which users can vote for an exchange listing. The projects include BaerChain (BRC), Credit Tag Chain (CTC) and TrustNote (TTT). BaerChain is a blockchain-fueled online gaming app, Credit Tag Chain is a blockchain-based asset value network and TrustNote describes itself as an open-source software infrastructure and platform combining PoW and DAG. Voting will unfold through Aug. 12. (GT)

7 months ago

Github Commits and Smart Contract Ranking in the Last Week

According to a report jointly published by TokenInsight and RatingToken, TRX tops the rank of Github commits, TRUE, RHOC, SHOW, and ZSC rank from the second to the fifth on the list. The ranking also takes into consideration the risk assessment of ERC20, with the highest score totaling 5 and the lower points, the higher the risks. The specific data as follows: TRX 143 submissions(Non- ERC20), no score for ERC20; TRUE 142, no score for ERC20; RHOC 128, 4.40 points; SHOW 107, 4.67 points; ZSC 88, 3.00 points; GXS 59, no points(Non- ERC20); RDN 50, 4.4 points; ZIL 45, 4.34 points; HPB 40, 4.28 points. EOS 37, no points (non- ERC20). Besides, EOS has surpassed ADA to be the only one rank within the top ten among the top ten blockchains by market cap. (RL)

8 months ago

Upcoming ICO Projects: August 5th – August 11th

ICO projects have already raised about $9.29 billion in 2018, nearly twice the amount raised in the whole of 2017. It is evident that ICOs are the most preferable method of raising funds. On August 7th, DenchMusic will launch its ICO campaign aimed at funding the creation of songs of top-ranked artists and talented DJs. On August 8th, Userchain will launch their ICO toward the establishment of Blockchain 3.0. Little Phil’s Pre-ICO campaign will run from Aug 8 to Aug 21. Selfie GO’s pre-ICO will start on 10th August and will run through to August 31. (VK)

8 months ago

Peer Mountain and Syscoin Announce Partnership to Deliver Regulatory Compliant E-Commerce On-Chain

Syscoin (SYS), featuring the world’s first wallet with an integrated decentralized marketplace, announced a partnership with Peer Mountain, a blockchain-based software platform for user data security. The companies will work to facilitate interoperability between the Peerchain and the Syscoin protocols, bringing the Peer Mountain identity verification system to the Syscoin network in 2019. The goal of the partnership is to design a method to allow users to purchase identity verified goods, such as alcohol and tobacco, using both the Peer Mountain and Syscoin services. (JF)

8 months ago

HelloGold Partners with JupiterChain and Malaysian Financial Institution

HelloGold, a Shariah-compliant digital gold investment platform, has partnered with JupiterChain in a bid to develop interoperability of the JupiterChain (JUPT) and HelloGold (HGT) tokens. The deal will see the users of both platforms get easy access to both tokens. Jupiter is a blockchain-based data exchange platform which aims at using the technology to streamline building of identities and other related operations. HelloGold has also partnered with a Malaysian financial institution. This will allow holders of HGT in Malaysia to get access to remittance services. (VK)

8 months ago

Baidu Launches it's own Token Based Blockchain App

Baidu, an extremely popular internet search engine in China, has revealed their own cryptocurrency token to encourage users to adopt their blockchain-based photo validation service. The platform known as ‘Totem’ launched and its token, Totem Point, is the first application released on Baidu’s XuperChain network. Baidu plans to create 4 billion Totem coins and users will receive coins, along with a 4.5% interest rate for submitting original photographs. Baidu has not explained whether Totem coins can be traded for cash or other cryptocurrencies but they have intimated that the coins can be used across the XuperChain network and other dApps built on the platform. (RS)

8 months ago

RChain to Host Berlin Conference RCon3 Ahead of Test-Net Launch, RHOC up 13%

RChain, which describes itself as a decentralized communication and storage utility, will host a developer conference dubbed RCon3 ahead of the launch of its test network. The conference is targeting developers, network validators, investors and researchers and will take place in Berlin, Germany Sept. 3-6. The focus of the conference will be on exploring the RChain platform and the launch of the RChain test network ahead of the mainnet launch later in 2018. The RChain coin is currently up 13%. (GT)

9 months ago

Top 5 Performers Over the Past 24-Hours: Bitcoin Diamond, Mixin, RChain, Digibyte, Nuls

Even with the recent upswing in the market, there have been coins that have outperformed others. In the top 100 according to CoinMarketCap, 5 coins have shown more than a 10 percent improvement over the past 24 hours. Bitcoin Diamond is currently up 56%, trading at $3.12. Mixin (XIN) is up 17% at $540, RChain (RHOC) is up 14% at $0.79, DigiByte is up 12.3% at $0.037, and Nuls (NULS) is up 10.77% and trading at $2.44. (JF)

9 months ago

RChain is seriously undervalued.

###RChain is not just another coin that's all "talk", with a fancy roadmap and high ambitions. No, I'm not trying to pump it. RChain is actually, factually, seriously undervalued. Don't take my word for it, just take a few minutes and briefly read the [whitepaper](https://docs.google.com/gview?url=https://github.com/rchain/reference/raw/master/docs/RChainWhitepaper.pdf). (surprisingly, it's actually really simple to understand.) Now check out the [RChain Platform Architecture](http://rchain-architecture.readthedocs.io/en/latest/). Notice how ridiculously well thought-out it is. As a programmer myself, I cannot stress enough how undervalued RChain is. Not just because of their plans, but the fact that they're ages ahead of other projects that are only starting to put together little bits and pieces of features that RChain is implenting all in one. Oh, and most importantly, unlike other projects, that actually have a [working alpha version](https://www.reddit.com/r/RChain/comments/7lo003/rchain_prealpha_hellonode_v01_software_released/), which was just released about a week ago. Here is an intriguing excerpt from the whitepaper; >**Yes - we’ve heard the rumors about groups coming out with bits and pieces of those solutions but there simply isn’t one that can promise all that and be less than a year to market.** Am I the only one that realizes how true that statement is? The fact that RChain isn't in the top 10 just goes to show how unaware people are. Just absorb pages 3 - 5 of the whitepaper, and... Just read it. Enough said. --- From the whitepaper: I marked in bold what I personally think is crucial to understanding what RChain brings to the table. >Imagine if there were a solution that provided the scalability that we all know this sector needs, we’re not talking about 10, 100, or even a thousand transactions being processed per second. >What if there was a blockchain that could run a **minimum of 40,000 transactions per second** with future enhancements that are even higher? >What if there were a secure and fundamentally sound platform, built upon the lessons learned from initial efforts of Bitcoin and Ethereum that would **allow developers of all mediums and categories to build on that platform?** >What if that platform were built not on proof of work but proof of stake? >**Yes - we’ve heard the rumors about groups coming out with bits and pieces of those solutions but there simply isn’t one that can promise all that and be less than a year to market.** >On the RChain platform **smart contracts are concurrent and formally verified** by the compiler, so they’re **fast, versatile, and secure.** Those contracts are written in RhoLang, which is a strongly-typed, concurrent, and **correct-by-construction language.** >RChain’s platform provides a unique differentiator for the development community. RChain platform supports **multiple blockchains, both public and private on the same node.** These blockchains can interact securely, predictably and at scale. This is a vision that developers have been hoping to see realized for years. These blockchains are secured by the type of consensus protocol the whole industry has been waiting for proof-of-stake. This is consensus by validators that are more scalable and fault tolerant. >Also, and not just a side note, is the fact that we are developing a protocol that will allow developers, across multiple languages, **can literally press a button and transform their current application/program code over to, and enable the operation on the RChain blockchain.** The developer community has been looking for this solution and it is nearly here. A simple **“translator” of code that will literally allow just about anyone developing to add their product/service/app onto the RChain blockchain.** --- Yea, plenty of info to absorb, I know. But trust me, skipping over the details will only leave you regretful, there is actually some seriously revolutionary features RChain is bringing to the table. I recommend you conduct your own research, and make your own educated decision on/if you will be investing in RChain. **The message I am trying to explain is this.** RChain is an amazing project that everyone should know about. Do research on RChain, one day you will be glad you did....

a year ago

Welcome to RChain Subreddit! Here's a list of Official RChain Channels to get started.

Welcome to RChain Subreddit! Official Website: https://www.rchain.coop/ Official Developer Website : https://developer.rchain.coop/ RChain Architecture Doc : http://rchain-architecture.readthedocs.io/ Comparison of Blockchains : http://rchain-architecture.readthedocs.io/en/latest/introduction/comparison-of-blockchains.html Roadmap : https://rchain.atlassian.net/wiki/spaces/CORE/pages/105709609/Roadmap FAQ : https://github.com/rchain/reference/blob/master/faq.md Weekly Debrief Index: https://github.com/rchain/Members/wiki/Weekly-Debrief-Index ​**Contributing to the RChain Coop** You can help contribute to the RChain project through Github/Members: https://github.com/rchain/Members/blob/master/CONTRIBUTING.md **RHOC Token Details :** To see RHOC in MEW/Metamask add custom token address: 0x168296bb09e24a88805cb9c33356536b980d3fc5 8 decimal places **Official RChain Coop Channels:** Telegram RChain Official Chat Group: @rchain_coop Telegram Chat Invite Link: https://t.me/rchain_coop Telegram RChain Official Announcements Channel : @RChain_Official Telegram Announcement Channel Link: https://t.me/RChain_Official Twitter: https://twitter.com/rchain_coop Facebook Page: https://www.facebook.com/rchaincooperative/ Youtube: https://www.youtube.com/channel/UCSS3jCffMiz574_q64Ukj_w Reddit : https://www.reddit.com/r/RChain/ Bitcointalk: https://bitcointalk.org/index.php?topic=2494040 Medium: https://medium.com/rchain-cooperative Slack: https://ourchain.slack.com/ (To be phased out and replaced by Private Discord) Co-op Membership : Co-op members, leadership and developers work together in the Discord Member Channels that requires a $20 membership and KYC to join. Register for membership and Discord access here: https://member.rchain.coop/ Discord (Public): https://discord.gg/fvY8qhx Chinese QQ Group ID : 中国朋友欢迎加入RChain粉丝群,QQ群号: 530718666...

a year ago


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