Cryptocurrency

ReverseBlock: The Autonomous, Open Source, Community Governed L1 Platform

It cannot be denied that the birth of Bitcoin has been a revolution for the internet as well as has laid the foundation for the term “blockchain”. Although there are some drawbacks, the pioneer Bitcoin helped many to dream about blockchain’s role in the future.


What Is ReverseBlock?

Taking advantage of the value philosophy and ethos of Bitcoin, the RBX platform is the next-generation blockchain built to operate completely decentralized and autonomous for everyone to help evolve utility, use-cases, and ownership for any type of NFT through a singular core wallet for Masternodes, Smart Contracts, NFTs, and Decentralized Sales Tools (DSTs).

Therefore, its Self-Executing NFT Architecture Program (SEN) allows users to customize and control how each NFT evolves across any digital or physical asset class.

In other words, programmable smart contracts within each NFT now empower each creator with the ability to truly transact or transfer peer to peer, with highly dynamic features without friction and highly efficient, all through a core wallet that you may not yet to be experienced before.

With the finite purpose to democratize peer-to-peer operability and tokenization of digital and physical assets, users can mint and trade NFT created without the need for a marketplace.


How ReverseBlock Works

ReserveBlock RBX network is not a company but rather an open-source autonomous and decentralized Layer 1 protocol.

The network provides for a truly decentralized transfer of media tied to the NFT peer-to-peer, with a robust suite of on-chain tools and features through a core wallet. In that, RBX NFT suite features have a scalable utility that enables each creator complete autonomy and is self-executing.

Also being a smart contract-enabled blockchain, ReverseBlock allows users the ability to customize and control how NFTs evolve without the need to know how to code as well as provide on-chain royalty enforcement at the time of any transaction.

As such, it is easy to see that ReverseBlock is different from other L1 blockchains as the network is NFT-centric. Therefore, it is the blockchain that focuses on the delivery and features that allow for an NFT’s true utility and are not just collectibles but provide real and relevant functionality.

ReverseBlock has a distinct advantage in that it is not a business but an open-source and automated L1 that is meant to benefit its community. On the other hand, the ReverseBlock’s validation process follows Proof of Assurance (PoA).

Therefore, while other chains have encountered some drawbacks, like the role of mining causing major energy waste, the ReverseBlock’s Proof of Assurance (PoA) process, provides rewards for owning a node, but not having the energy suck of PoW.

PoA is a system where validators are agreed upon and a pool of them is created with those validators then each agreeing on the submission of blocks and the transactions inside them.

PoA is based on all validators agreeing to assure a specific amount of RBX and then crafting transactions into blocks for the network and acting as beacons for p2p asset transfer.

On top of that, there’s no PoW for consensus meaning no heavy equipment or massive burden of power needed to secure the blockchain. Instead, validation occurs within the Masternode infrastructure where users operate a passive file in the background on any laptop and desktop.

Just like individuals, b2b/b2c can also adopt and participate very easily through simple API integration with documentation. You can also incorporate all native tools and features and engage directly with your own community.


How to Get Started with ReverseBlock

As said, the platform is designed to provide open participation for everyone, so the user journey is simple. First of all, you’ll need to download a non-custodial native core wallet and participate immediately either as a validator on the network.

The RBX web wallet can perform many of the functions found on the core wallet. The Web wallet is a native RBX wallet accessible from any device that is connected to the internet. It cannot validate, but it can perform every other function like the CLI and GUI.

In addition, you will need to have a small amount of RBX to mint or do a transaction or assure the minimum of 1,000 RBX to become a node as a validator on the network and provide governance. RBX is also the network’s native currency.

RBX wallets are non-custodial which means you are in control of your balance and what you do on the network, which again is completely at-will and open-source.

Once it’s done, as a user, can compile self-executing smart contracts, mint NFTs for a variety of purposes, launch an auction, send media to another peer, create a domain name, vote if you are a validator, create a beacon, or even act altruistically as an Adjudicator.

The network enables anyone to interact and onboard within minutes through three wallets, a CLI or GUI which allows for validating, or a Web Wallet which allows all functions except validating.

Also, all wallets are extremely intuitive and provide in-wallet direction/help which reduces tremendous friction for you.


Why Use ReverseBlock?

2022 may have been slow for most crypto, but not all. There have been a number of bright spots in the industry with platforms that thrived during the year and one of them is ReverseBlock.

The platform started with 45-50 people/entities as founding validators on the network and saw the validator pool grow to over 5,500 currently in a stable mainnet beta environment in just under one year.

The network not only has no gas fee but also has near-zero fees for transactions which are fixed at .00001 per kb.

Mining crypto was exciting and lucrative, but risky. Some stats around the highs and lows of crypto mining show how some people became very rich mining and others invested massive capital only to start at the wrong time, never making back their investment.

Many are still wondering if investing in crypto is becoming safer, but this could evolve if these problems are solved.

In addition to forms of this type of investment like staking and farming, other ways are emerging that more closely resemble mining like what ReverseBlock is doing.

Not only does it not have the energy drain like PoW, but PoA also allows a much smaller capital investment per node by providing rewards for owning a node.

Furthermore, ReverseBlock removes current barriers and frictions, enabling simple individual adoption of blockchain technology while maintaining autonomy, true decentralization, and governance, with independence and freedom to participate and utilize tools and features completely at will.

As RBX wallets are non-custodial, it means YOUR Block YOUR Data. As such, you can control what you do with the network and its tools.

It serves as a solution for specific common issues for individual adoption of blockchain technology globally and could in fact actually help facilitate the adoption of other chains in the future for solutions outside of the RBX ecosystem.


ReverseBlock is The Future of Blockchain

ReverseBlock is the next generation of the blockchain space.

The platform provides in-wallet trading tools, giving the NFT owner the ability to take their NFTs to any social or web-based platform they choose and conduct peer-to-peer auctions without any third-party fees all through the RBX wallet.

In short, ReverseBlock gives you true utility and scalability for NFTs that you control, store, and own period.

The post ReverseBlock: The Autonomous, Open Source, Community Governed L1 Platform appeared first on Blockonomi.

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