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In this opportunity, I am powerman001 from bitcointalk will review one of the ICOs that have recently been launched and are predicted to become second generation etherium.
The blockchain is one of the revolutionary changes that have taken place in the world of technology. Since its inception, it has been adopted and used by all technology enthusiasts 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 dedicate about 5 minutes of your time to read to the end this project that aims to revolutionize the blockchain.
What is the RAYS network?
RAYS Network is a cryptocurrency that aims to solve problems that are preventing the blockchain technology from becoming mainstream and, in doing so, revolutionize your experience in the world of cryptocurrency.The adoption of the blockchain has increased in recent years and thanks to RAYS Network, there is a way to do it better.
RAYS Network has identified some common crypto-science problems in areas ranging from usability to the operation of decentralized systems. We can all attest to the fact that the speed of transactions and costs in regard to major currencies is a problem. Bitcoin takes approximately 45 minutes to confirm a transaction and this affects its usability, including transaction fees. RAYS Network is a new blockchain technology that has adopted and modified known functions in the world of cryptocurrency, such as the delegated test test (DPOS) and the bulletproof algorithm.
Why join the RAYS network?
RAYS Network has several features that will revolutionize the chain of blocks and these include;Enterprise Private Blockchain Solution, Bulletproof Protocol for Privacy, Flexible Red Blockchain, Zero Transaction Fee, Microtransactions, Multiple Transaction System, RAYS Research Lab, Quantum Proof and some others. With the use of bulletproof protocol, cryptocurrency and blockchain privacy is guaranteed, and it also reduces the size of block transactions to a large extent 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 payments to their employees by making private transactions in a public network. In traditional blockchain systems, everything that is shared in the public blockchain can be seen by anyone who uses the blockchain including information on employee salaries and this is against the General Data Protection Regulations (GDPR) that prohibits such practices.
Thanks to RAYS Network, employees no longer have to worry about exposing their deprivation (when it comes to wages) when their employers pay their wages in a public network.The multiple transaction system allows the head of a company to send payments to all its employees with a single click. Transactions in the RAYS network are very fast and do not support tariffs (zero rates). Transactions are private and secure due to the implementation of TOR and I2P protocols, none of the transactions can be traced anywhere.
RAYS Enterprise Privacy Blockchain Solution
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.
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Thank You For Reading.