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1  Alternate cryptocurrencies / Tokens (Altcoins) / 🌟 [ANN][REAP] ReapChain - Secure and Transparent Blockchain-Based IoT Ecosystem on: July 06, 2020, 10:11:06 AM


Website | Whitepaper | Yellowpaper | Onepager






ABOUT ReapChain


ReapChain aims to establish a safe and transparent ecosystem of the blockchain industry for all the DApp (Decentralized Application) service providers by providing a usable blockchain.

In the IoT industry, issues regarding security, authentication, and safety have been solved by relying on intermediaries. However, this centralized method has several side effects in terms of cost, security and reliability.

ReapChain offers a new hybrid blockchain with a Shell-Core Structure. It solves the trilemma of existing blockchains “scalability, security, and decentralization” through a unique consensus algorithm and ReapMiddleChain and tries to implement the integration of blockchain and IoT industry by resolving the security and mass data processing problems of the existing IoT market.

In addition, ReapChain plans to improve existing IoT system by preventing data forgery and authenticating each device based on PID of things. Core competency of ReapChain’s technologies serves to establish ReapChain BaaS. And IoT specific platform with enhanced transparency and security is built utilizing ReapChain technologies to provide a secure and transparent blockchain ecosystem.


Vision
To establish a new hybrid blockchain with Shell-Core structure unique to ReapChain that solves the trilemma of existing blockchains.
  • To develop a double-layered chain structure that connects with various main net protocols
  • To create a real-time data processing algorithm for DApp through the pre-confirm process
  • To create a decentralized algorithm through the PoDC consensus structure.

To establish a multi-layered chain tailored to the characteristics of each industry through ReapMiddlechain.
  • To establish a blockchain by blockchainifying the end-to-end section through the middle chain that is unique to the IoT industry: ReapChain BaaS
  • To establish a development environment, Reap SDK, that enables non-professionals of blockchain to develop as well.

ReapChain is creating a new IoT Blockchain world with technology that has both complete security and transparency.


ReapChain TECHNOLOGY

Shell-Core Structure

The Shell-Core structure solves the existing Blockchain's trilema, realizing the effective convergence of the Blockchain and the IoT industry.

The new hybrid Blockchain is implemented through the shell-core structure and PoDC consensus algorithm, in which public and private Blockchains are perfectly fused to solve the existing Blockchain's trilemma problem.

The Shell-Core Structure has a double-layered chain, and it is designed as a double structure that forms a fake ledger cell block by ReapMiddleChain on the outside, and a definitive block of the real ledger concept inside.


Shell-Core Structure places the private blockchain with fast transaction processing speed on the outer layer to process transactions first in time-wise, and the public blockchain that is more secure and more suitable for decentralization is placed on the inner layer to blockchainify the transactions later. This is ReapChain’s unique structure of processing transactions.


PID (Private ID) of Things

Individual IoT devices acquire a private key, which is a unique ID, for each device through the Reap SDK to prevent the forgery of data.

An Individual IoT device obtains a private key, which is a unique ID for Individual devices, through the Reap SDK to prevent hacking or illegal access.

When a transaction occurs on an IoT device with the Reap SDK applied, it is only accessible to authorized personnel or devices, and it is possible to check whether data is forged or tampered with. This prevents malfunction or side effects of the management system due to incorrect data transmission.


Reap SDK can support project modules or settings developed based on the existing Micro Controller Unit (MCU). Reap SDK allows you to reuse existing native SDK code to have interoperability between codes and minimize maintenance and management costs. In addition, a unique ID (private key) is created for each IoT device and stored in the internal non-volatile memory.

When a data transaction occurs, individual hash devices become small nodes of the ReapChain by receiving and storing the final hash information generated in the ReapMiddleChain. This allows you to verify device reliability.



BUSINESS

ReapChain BaaS

ReapChain is a Blockchain as a service (Blockchain as a Service), and consists of Reap SDK for connecting and authenticating devices, ReapMiddleChain and ReapChain for data processing and storage, and Reap Platform for operating and managing all services.



Advantages



Business Model

ReapChain's business is a platform and DApp business composed of various IoT-based business fields.
  • Combination of each business area through platform activation
  • Establishing a reasonable fee and incentive system
  • Establish a business model by building a competitive infrastructure through token economy with competitiveness and profitability.



Revenue structure of ReapChain




TOKEN ECONOMY

Fees and Reward structure

ReapChain is a shared economic business platform participants in the ecosystem organically, receive economic incentives and voluntarily activate ReapChain.


  • Means of payment: ReapChain is a basic means of payment of ReapChain and the unit is REAP.
  • Basic fees (transaction fees): Participants and service users in the ReapChain ecosystem pay basic fees for all transactions that take place in the ReapChain and pay additional fees incurred by computing operation codes with REAP.
  • Reward structure: Participants of ReapChain ecosystem get REAP as a reward according to one’s stake of REAP and the level of contribution.


Additional 10% of Incentive to Vitalize ReapChain
Besides the rewards for the total transaction fees, a 10% of the total REAP issued will be distributed to all ‘REAP holders as a reward for participation to ecosystem ’by paying 1% every year over 10 years When the 1.2 millionth block is created, the payment will be made in proportion to the share of ‘REAP’ to the all REAP holders.


Token Allocation

Reap Token, a token issued by ReapChain, is a new mainnet project to solve the problems of the existing Blockchain's trilemma, block creation time and transaction processing speed, and to efficiently integrate with IoT.

Amount of Total Issuance: 4,900,000,000 (4.9 billion)
Token Price Per Unit: 0.03 USD



Reap Token Sales Plan



ROADMAP

Follow the progress and the milestones of our scaling business.


TEAM

ReapChain Team members aims to bring our valuable technologies of ReapChain to the public, through their extensive experience in the field.

Management

Development & Team

Advisors


PARTNERS


Advisory group


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