The blockchain is one of the revolutionary changes that have occurred in the world of technology. Since its inception, it has been embraced and used by all enthusiasts of technology to solve problems in areas of development including industries. However, the blockchain itself has some problems that RAYS NETWORK seeks to address. I would like very much if you could spend about 5 minutes of your time to read to the end this project that aims to revolutionize the blockchain.
What is RAYS Network?
RAYS Network is a cryptocurrency that aims to solve issues that are preventing the blockchain technology from going mainstream and in so doing revolutionizing your experience in the cryptocurrency world. The adoption of the blockchain has increased over the few years and thanks to RAYS Network, there is a way to make it better. RAYS Network has identified some common cryptocurrecncy issues in areas spanning from usability to how decentralized systems operate. We can all attest to the fact that transaction speeds and costs when it comes to major coins is an issue. Bitcoin takes about 45 minutes to confirm a transaction and this affects its usability including their transaction charges. RAYS Network is a whole new blockchain technology which has adopted and modified known features in the cryptocurrency world such as Delegated Proof -of-stake (DPoS) and Bulletproof algorithm.
Why Join RAYS Network?
RAYS Network has several features with which the blockchain will be revolutionized and these include; Enterprise Privacy Blockchain Solution, Bulletproof Protocol for Privacy, Flexible Blockchain Network, Zero Transaction fee, Microtransactions, Multi Transaction System, RAYS Research Laboratory, Quantum Proof and some others.
With the use of the Bulletproof Protocol, privacy in cryptocurrency and blockchain is ensured and also, it reduces the block transaction sizes to a great deal as compared to other Privacy protocols. If you are an employee, there is good news for you. With RAYS Enterprise Privacy Blockchain Solution (EPBS), employers can send payment to their employees by making private transactions on a public network. On the traditional blockchain systems, anything that is shared on the public blockchain can be seen by anyone using the blockchain including information on employees’ salaries and this is against General Data Protection Regulations (GDPR) which prohibits such practices. Thanks to RAYS Network, employees no longer need to worry about exposure of their privacies (when salaries are concerned) when their employers pay their salaries on a public network.
The Multi-transaction System enables the head of a company to send payments to all of his employees with just one click. Transactions on RAYS Network are very fast and bear no fees (zero fees). Transactions are private and secured due to the implementation of TOR and I2P protocols, none of the transactions can be traced anywhere.
RAYS Solution – Flexible Blockchain Network (FBN)
We have a solution for both; a Secure and Private blockchain for industries, and a Secure and Fast cryptocurrency for general users. Our technical team is working on a Flexible Blockchain Network (FBN) which may switch between General and Enterprise users as required by the users for their needs. Sufficient progress has already been made and a Minimum Viable Product (MVP) has already been developed to prove the FBN concept.
Imagine that you are the head of an enterprise (company) and you want to send the enterprise data or make a payment to your employees at public blockchain network.
In all the traditional blockchain systems, whatever you will share on the public blockchain can be seen by anyone using the same blockchain.
This is against the rules of privacy and one’s right to privacy. Your employees may not want their salaries to be shown on public blockchain network.
Regulations such as GDPR prohibit such practices.
As a result of this, all activities performed on a public blockchain network are non-compliant to the rules set by such regulations.
Blockchain networks such as Ethereum fail in these scenarios and may be violating the laws.
In this scenario, one may consider a blockchain network which is private or offers complete privacy.
Doing so kills the essence of blockchain technology and is against the basic principles of this innovation.
Is there a solution in this situation to still ensure individuals privacy while making the use of a public blockchain network?
Yes! RAYS Network exactly aims to solve this problem. Each transaction to be made at RAYS blockchain network will have an option before transmission whether the transaction should be public or private.
A public transaction at RAYS public network will be like a normal transaction such as the transactions made at Ethereum blockchain.
It is possible to make a Private transaction on a Public blockchain network. In this way, everyone can see that a transaction is made. But no one except the intended receiver can see what is inside the transaction.
This will be made possible with the use of a Bulletproof algorithm. Each transaction will be locked by the sender and can only be opened by the intended recipient.
Bulletproof is a type of Non Interactive Zero-Knowledge Proof algorithm.
▪ We will achieve real privacy and security by choosing the right algorithm (in this case the Bulletproof Algorithm). By refining it in our unique way, we will be able to achieve really high network scalability and keep the highest standards of safety at the same time.
▪ The implementation of one of the two additional protocols such as TOR or I2P will allow our users to enjoy total privacy. Thanks to these two protocols, none of the transactions can be traced in any way.
▪ The implementation of the bulletproof protocol will make the RAYS Network also immune to attacks from quantum computers.
RAYS 3S Wallet - Secure, Safe, & Smart
RAYS 3S Wallet will be a highly secure hybrid wallet with the encapsulation of keys using KEMs on hardware by means of highly advance cryptographic primitives like data protection, hash functions, digital signatures, and OAKMD schemes.
▪ Secure
Zero Trust: RAYS Wallet’s security will be based on the principle of zero trust and will be protected by NIST approved advanced cryptographic primitives.
2FA: RAYS Wallet will have Two Factor Authentication.
Anti Phishing: RAYS Wallet will have Anti Phishing Measures.
▪ Safe
Pin Key: RAYS Wallet provides currency holders with a high degree of security via the use of a unique PIN key that can be up to 9 digits long.
Total Privacy: RAYS Wallet will use extra level of protection that doesn’t log private information when connecting to network.
Recovery: In the event of lost of the wallet seed, the user can easily backup his/ her wallet credentials via of a “recovery scheme”.
▪ Smart
Automatic Disable Feature: if a person tries to hack/ access the wallet forcefully, it will automatically disable itself after a certain number of failed attempts.
Accountability: RAYS Wallet needs physical approval for all internal transactions to be executed.
Smart KMS: The smart security policy of a key management system provides the rules that are to be used to protect keys and metadata that the Key Management System supports.
Are you a blockchain researcher, a blockchain developer, marketing manager, business manager, university professor, JOIN RAYS and be part of its great future.
More Info
ANN: https://bitcointalk.org/index.php?topic=4470532.msg%msg_id%
Whitepaper: https://rays.network/whitepaper1.0.pdf
Website: https://rays.network
Telegram: https://t.me/RaysNetwork
Facebook: https://www.facebook.com/RaysNetwork
Twitter: https://twitter.com/Rays_Net
AUTHOR :
Bitcointalk username : Driean
Fropil link : https://bitcointalk.org/index.php?action=profile;u=545651
Wallet : 0x0872bf5Fb779e726D5438ed144B304322117b697
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