Republia (RPB) ICO Review
Republia is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.
|Ico Time||Unknown – Unknown|
|Price||1 RPB = 0.92 USD|
|Soft Cap||5,000,000 USD|
|Hard Cap||50,000,000 USD|
More about Republia (RPB) ICO:
Republia is a large-scale decentralized ecosystem, that includes elements of the countries that are familiar to us in the digital space and operates mechanisms based on blockchain technology. A unique solution for coordinating changes in ecosystem conditions through direct user voting based on Republia blockchain, which, in turn, is based on “we-government” methodology.
Republia is a large-scale decentralized ecosystem, that includes elements of the countries that are familiar to us in the digital space and operates
mechanisms based on blockchain technology.
The coordination structure of Republia is analogous to “we-government” model that is aimed at direct management of the ecosystem, without involving the relevant regulatory institutions.
“We-ecosystem” is a new stage of management that excludes mediation and provides platform users with opportunity to influence the development of the system and make decisions according to different changes.
The project collected all the most relevant mechanisms of the real countries that are familiar to us and combined them with highly efficient technologies.
The global ecosystem Republia is a set of operating tools based on wellorganized structure, operating under a set of internal rules, that ensures safe and comfortable usage at every stage of operation. Ecosystem is based on the main principles of the operation of blockchain technologies. secure storage of user data (information and resources are protected through integration with Republia blockchain); justice (all disputes are resolved by consensus); transparency (ecosystem users always have access to all the necessary information); full democracy (members of the ecosystem directly affect the life of Republia).
The key components of the decentralized ecosystem provide a trusted and absolutely transparent relationship between users, presenting a unique concept of smart contracts, a platform for creating and modifying the entire ecosystem as well as comfortable way of communication between community members. A distinctive feature for Republia project is an approach to safety: innovative protocol is embedded in the project ensuring data and resource protection in the conditions of the entire global ecosystem. Republia’s internal payment tool is an RPB coin protected from strong volatility, smoothing of volatility shows undoubted advantage of RPB along with other coins of the crypto industry. Republia can be seen as a platform for organizing campaigns to attract investments through ICO, while protecting all blockchain communities from fraudulent schemes. The white paper of Republia project includes the study of all components of the decentralized global ecosystem, the description of the possibilities of fundamentally new technology and a proof of the need for such solutions in industry.
Nowadays new ICO are being created on the blockchain Ethereum Platform, NEM, NXT, Waves etc. The first of them, in turn, is able to conduct maximum of 25 transactions per second which is the minimum indicator of the comfortable usage of the network.Limited capacity of the network is an important drawback of the existing crypto-currencies and it is associated with the original nature of the blockchain. New projects often do not represent specific technologies, which creates mass character, but not market stability.Against the backdrop of the emergence of a huge number of ICOs which are connected neither ideologically no technologically, there is a glut of the industry.
Companies managed to raise $11,7 billion. Among them almost 40% did not collect appropriate amount and closed, every seventh ICO had signs of a fraudulent scheme or proved to be unpromising. These statistics are not comforting and confirms a list of problems such as deceived investors, government bans, disenchantment with technology.
Starting from 2008 network of Bitcoin cryptocurrency has been undergoing a lot of hard forks. Users turn to this step in order to solve the problem of scalability, low capacity of transactions, limited block size and generally offload common Bitcoin network. At the same time hard fork entails creation of a new network chain which no longer operates according to the rules that were established by an old protocol of the blockchain. The nodes of a new and an old network are incompatible since hard fork means changes in the mechanism of consensus itself. According to the experts such an oversaturation of the industry with so many variations of one crypto-currency undermines trust of users towards blockchain, because, in fact, hard fork is a side effect of disagreements within the crypto community. Many crypto enthusiasts are sure that instead of permanent separation from the main networks, it is better to come to a common agreement.
Various factors affect crypto-market: economic and political situation, emergence of new-cryptocurrencies, news, demand or supply from users or investors. The volatility of crypto-currency can be 50-100% just because of one piece of news and several large traders that came into the market.If you compare digital assets with fiat money, average annual volatility of fiat money usually does not exceed 3-4%. In cryptocurrency this figure often is more than 20%.
The volatility of the crypto-market with the Bitcoin network as an example
Members of the blockchain community are constantly at risk by providing their data and funds to various projects. Only in 2017 several serious hacking were recorded, which resulted in losses of billions of dollars.
It is known that crypto community can be conditionally divided into two groups. The first group perceives crypto-currencies as a payment tool, and the second group considers them as an investment tool. Often these two groups argue with each other and it leads to uncompromising division of the crypto-currency into two new digital assets with own rules and regulations.
The problem is that fragmentation will not stop, as a result, the market will be filled with new coins and tokens.Since Republia acts on “we-ecosystem” ideology, where users can directly participate in the process of modernization of technological solutions, the project is based on the advanced system of consensus, which is one of the main advantages of technology. Modernization means addition of new functions to the subsystem.
Protection of fraudulent projects
Due to voting system, that leads to adoption the decisions by consensus, and then automated updating of the protocol among users, Republia completely solves the problem of hardforks. Republia creates a single public blockchain, and its protocol is automatically updated. Since the system of the blockchain protocol is divided into three layers (network layer, layer of consensus, transaction layer), separating one layer from the others means that protocol can be modified without need for hardfork, the general system is doomed to split because of hardfork. Read more in Technical Paper.Republia can be considered as a platform for ICO, while it protects the entire blockchain community from the emergence of projects that are ultimately announced as SCAM. This goal has been achieved by expanding the entire Republia ecosystem with interrelated projects, rather than adding competitive ICOs, as it occurs inside, for example, the Ethereum Platform. However, competition remains in another form. Users compete for modernization, but not for maximizing profits.To add the desired project to Republia ecosystem you will need to submit an application within Republia ICO Platform and go through voting phase among users, which is based on the layer of Republia Blockchain consensus protocol. Users can apply amendments to any subsystem as well, when most users consider a particular function as an error in the ecosystem, they can vote for changing or deleting this function.Each decision on a particular vote is entered in the blockchain and has its own hash and hash of the decision that was adopted or rejected. Also participants who voted will be recorded in the block, their decisions and time of the vote will be shown to the entire community, this type of the block can be viewed at any time, in this case falsifications are impossible. Thus Republia is a complex system, in which each subsequent addition is a product, and there is a demand among real users for this product.
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