Blockchain technology is seen as a distributed ledger technology which allows for the seamless transfer of data with complete security, running with consensus mechanisms and is based on cryptography.
It has been implemented in a lot of innovations, one of which is the emergence of the digital currencies such as Bitcoin, which runs on the Proof of work consensus mechanism, and other cryptocurrencies.
The smart contract is another great part of the Blockchain which is breaking new ground, as it could be used to automatically execute contracts on different systems.
In the world today where businesses are prevalent, business related information such as the transactions details are stored on a business ledger, to serve different purposes in the near future.
But it is obvious that the Blockchain is not enjoying much of adoption and use, due to the complications associated with its use.
Rivex platform is here to remedy that.
RIVEX PLATFORM - SIMPLIFYING THE INTEGRATION OF THE BLOCKCHAIN
Rivex system is a system which intends on making the use and adoption of easy.
It operates on the Wanchain platform as a standpoint to exhibit its unique features which is tailored towards making the integration of Blockchain technology into our everyday lives, easier.
To achieve this, Rivex employed the layer-2 solution.
The layer-2 solution is built on an existing Blockchain, which then helps to divert some of the work off chain to the new layer, making processing and storage more secured and easy.
With the layer-2 solution, Rivex improves the Blockchain, thereby making its use desirable and effortless.
Let's take a look at some of the features of Rivex.
FEATURES OF THE RIVEX SYSTEM
Rivex has a lot of outstanding features which makes it unbeatable when compared to other Blockchain systems.
Some of these great features are…
INTEROPERABILITY OF THE SYSTEM
This is one of the unique features that is lacking greatly in the Blockchain system.
By creating the idea of decentralization, the Blockchain technology should be interoperable, in order to allow for the seamless sharing of information across the different nodes of the Blockchain.
That is exactly what the Rivex system is presenting to the users as well as the Blockchain industry.
With Rivex, sharing of information won't be dependent on any mediator, and users could then employ the use of multiple consensus algorithms.
All thanks to Rivex, interoperability will be achieved, making the Blockchain to operate at its full capacity.
- INCREASED SPEED OF OPERATION
Speedy transactions is another beneficial addition of the Rivex system, to the Blockchain industry.
With its Layer-2 solution, which facilitates the storage of data off chain, and its interoperable nature, the Rivex Blockchain system reaches the needed information quickly, without having to validate past transactions on the network before processing new ones.
It confirms digital assets transfers, speedily, with the layer-2 solution.
So through the Rivex solution, users do not have to wait unnecessarily long time before their transactions are processed, as it can process up to a thousand transaction per second; this makes integration of the Blockchain, easy.
SCALABILITY
Scalability is now achievable, thanks to Rivex.
By adopting the layer-2 solution, the base layer is not altered and a great level of security is maintained on the system.LOW TRANSACTIONS COST
Since transactions are carried out off chain on the Rivex layer-2 solution, the transactions cost is greatly reduced, as it costs virtually nothing to operate off chain.
This is a complete contrast of the on chain transactions, which cost a lot for every transaction.THE RVX TOKEN
Rivex has also developed its own digital currency, called the RVX token.
RVX is an ERC-20 token, and plays an important role in the Rivex system.
It is the recognized currency of the Rivex system and is used for a lot of things on the platform such as enterprise solution services and reward for users.
CONCLUSION
Rivex system is unlike every other Blockchain platform, it has all it takes to bring the integration of Blockchain to reality.
With its Layer-2 solution, it eliminates all the flaws of the Blockchain which had made it inefficient and unproductive.
Rivex is the key to a better Blockchain experience.
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