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Author Topic: 🌟 [ANN][REAP] ReapChain - Secure and Transparent Blockchain-Based IoT Ecosystem  (Read 10763 times)
reap_chain
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July 06, 2020, 10:11:06 AM
Last edit: August 03, 2020, 11:20:42 AM by reap_chain
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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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July 06, 2020, 10:48:46 AM
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ABOUT ReapChain

Introducing the innovation solution platform based on Blockchain technology

ReapChain was created to solve the problems of the existing IoT Blockchain.

https://www.youtube.com/watch?v=IJqFunCFBso
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July 06, 2020, 11:49:47 AM
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IoT is popular in our days, I think it's interesting field to do the project. Can you tell about advantages of ReapChain over other projects?
The Shell-Core structure is a private Blockchain technology with strong security and relatively high speed, which is first processed in time, and the public Blockchain technology element with strong transparency, openness, and decentralization is placed inside. It is a hybrid Blockchain that is post-processed in time.

ReapChain solves the trilemma problem through this shell-core structure.
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July 06, 2020, 01:56:24 PM
 #4

I'm sure that IoT niche is very popular in our days, cos many people love this technologies because it's comfortable and fast. So how does ReapChain work anyway?
Thank you for your question, it could be interesting to others Smiley ReapChain is a hybrid Blockchain that combines public and private Blockchain that has a Shell-Core structure.

ReapChain consists of 14 always-on standing committee nodes and 15 operating committee nodes (15 nodes selected using secure quantum random numbers out of the typical nodes), with a total of 29 nodes participating in the block creation agreement process.
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July 07, 2020, 06:18:06 AM
 #5

ReapChain Network MVP version Report



https://medium.com/reapchain/reapchain-network-mvp-version-report-815402b32b2a
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July 07, 2020, 08:49:22 AM
 #6

I can say, the team is big and seems all legit. And you have long list of partners already. Why the need of token sale? Can you proceed with your roadmap without crowdsourcing? Hard to raise money nowadays and since it seems you have private investors on board, why not develop this platform without token sale. At least for once in this community we will see a project not holding any kind of token sale.
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July 07, 2020, 01:34:20 PM
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I can say, the team is big and seems all legit. And you have long list of partners already. Why the need of token sale? Can you proceed with your roadmap without crowdsourcing? Hard to raise money nowadays and since it seems you have private investors on board, why not develop this platform without token sale. At least for once in this community we will see a project not holding any kind of token sale.
Thanks for the words about the team, we try to be professionals. We wanted everyone to be able to purchase our tokens, so we allocated 30% for sale.
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July 07, 2020, 01:36:00 PM
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ReapChain implements a more secure and transparent Blockchain-based IoT ecosystem and it's cool. What is your future plans guys?
As data is expected to arrive in the new 'Data Economy' era, which serves as a catalyst for the development of all industries and the creation of new values, ReapChain ​​utilizes the infrastructure of ReapChain ​​to collect and store numerous IoT data. Based on the data, the data is shared with other industrial platforms such as medicine and finance, and data is shared with each other. Based on this open data-sharing platform, high-quality data distribution among all industries is promoted. We want to realize a Blockchain-based sharing economy ecosystem by acting as a hub for a platform ecosystem where we can register, search, and trade easily and quickly.
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July 07, 2020, 08:36:00 PM
 #9

I looked at the roadmap for Q3 2020 presale and exchange listing. Do you only have a presale and don't have token sale? or what is meant by the exchange listing there is IEO?
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July 08, 2020, 06:23:45 AM
 #10

I looked at the roadmap for Q3 2020 presale and exchange listing. Do you only have a presale and don't have token sale? or what is meant by the exchange listing there is IEO?
Yes, you understood correctly. At the moment, we will have a token sale 2020.07.17 and after that we will have a listing. See our sources for further news.
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July 08, 2020, 11:28:38 AM
 #11

WOOJUNG KIM - CEO



- Washington State University Electrical Engineering, Business Administration
- Columbia University MBA
- 23 years of asset management and investment operation at Samsung Investment Trust, Information and Communication Research Promotion Agency, Hana INS, etc.
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July 08, 2020, 11:31:38 AM
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Hybrid Blockchain with a Shell-Core Structure

ReapChain offers a hybrid blockchain with Shell-Core Structure as a solution to problems of the existing blockchain. Shell-Core  Structure  is  implemented  based  on  PoDC  consensus  algorithm,  a  unique  consensus  algorithm  of  ReapChain.  It  is  a  new  type of dual blockchain structure that integrates a public blockchain with a private blockchain.

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.

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July 09, 2020, 10:06:13 AM
 #13

JAKE LEE - co-CEO



- Graduated from Youngnam University in Mechanical Engineering
- a member of the North Gyeongsang Youth Policy Committee.
- a member of the Special Committee on Blockchain in North Gyeongsang Province.
- Start-up, 13 years of Management in Fintech
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July 09, 2020, 12:07:56 PM
 #14

There is interesting information in Whitepaper about the IoT markets in general. I learned some new things that I didn’t know before. The numbers show that the IoT market is growing very quickly and this is not surprising, since with the development of technology, the need for people in smart things and electronics is growing.
Yes, I agree with that. The growth of the IoT market is accelerating due to the development of communication technologies such as IoT dedicated network and 5G, and the expansion of the base infrastructure.
The global IoT market will grow by an average of 12.8% annually from 2016 to 2022, and will reach $1.19 trillion by 2022. In 2030, it is expected to grow to be a huge market worth $3.13 trillion.
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July 10, 2020, 12:52:05 PM
 #15

Tell me, when will your program be ready? When will it be possible to fully use the product of your work?
After moving from the testnet to the mainnet in the first quarter of 2021, we will officially open the mainnet in the third quarter of 2021.
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July 10, 2020, 12:54:54 PM
 #16

REAPCHAIN X COBAK Token Sale & AIRDROP EVENT



https://medium.com/reapchain/reapchain-x-cobak-token-sale-airdrop-event-f1086cbd71dc
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July 11, 2020, 08:18:49 AM
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The sale of tokens will take place on July 22, the good news is that everyone who wants can buy coins, and the project will receive more investments. It is a pity that sales were announced for only 1 day. I heard about the Cobak platform, they have a pretty good reputation.
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July 11, 2020, 08:43:00 AM
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< REAPCHAIN X COBAK >

1. Sales Schedule:
July 22 (One day)

2. Sales price:
0.03USD (No bonus)

3. Individual purchase quantity:
25 USD (Minimum) ~ 10,000 USD (Maximum
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July 11, 2020, 09:05:32 AM
 #19

KHAN KIM - CSO



- New York University stern school of business
- Columbia University MBA
- Optima Consulting, LG Investment & Securities, LendLease, KPMG
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July 11, 2020, 10:49:58 AM
 #20

After a more detailed review of the project, I had an interesting question. Does ReapChain have patent technology related to Blockchain?
ReapChain has the following list of patents related to Blockchain mainnet construction.
1. How to provide a consensus service for the bilateral system using Blockchain-based quantum random.
2. A method of providing a high-speed transaction processing service executed in a middleware layer based on a dual Blockchain structure.
3. Blockchain-based cryptocurrency revenue distribution system and method have.
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