RiCHAIN was developed to cater to the needs of enterprises, developers, and individual users by transforming their businesses digitally, and provide them with flexible options to create their own blockchain solutions
RiCHAIN is one of RiVERSE’s infrastructure towards a Web 3.0 digital economy. RiCHAIN helps businesses and developers and to transform their business digitally.
SINGAPORE, November 30, 2022 /EINPresswire.com/ — RiCHAIN, A Consortium Blockchain Unlocking the Web 3.0 Digital Economy
The Web 3.0 era is here, and it’s bringing with it an explosion of new technologies, concepts and applications. Many technologies are now transitioning to an era of Web 3.0 development. One of Web3.0 technologies is blockchain, which is a decentralized database that allows people to make transactions without any middleman. There are many blockchains in the world, and most of them are preparing for the incoming Web 3.0 revolution, including RiCHAIN.
What is RiCHAIN?
RiCHAIN is one of RiVERSE’s key infrastructure towards a Web 3.0 digital economy. It is RiVERSE’s consortium blockchain powered by Tencent Cloud.
It was developed to cater to the needs of enterprises, developers, and individual users by transforming their businesses digitally, and provide them with flexible options to create their own blockchain solutions. RiCHAIN’s consortium blockchain offers a higher level of security, better control over its infrastructure, a lower energy requirement, along with easy to establishment agreements.
Thanks to these advantages, RiCHAIN enable users to quickly build their own IT infrastructure and blockchain services on an elastic and open cloud platform. It also allows users to seamlessly create Dapp (Decentralized applications) in various industries such as finance and retail.
Features of RiCHAIN as a Service (RiCaaS)
In development of Web 3.0, RiCHAIN addresses technical difficulties facing previous blockchain models, enabling faster transactions and the ability to expand without compromising safety by building its own private deployment network operation and maintenance and an efficient management ability.
Here are some of RiCaaS’s main features:
• Cloud Services : Since RiCaaS operates on a one alliance, one system, different alliance chains concept, it allows users to build alliance chains according to their business needs, with each chain having their own physical resources, effectively improving the blockchain’s credibility
• Privacy Protection : RiCaaS boast a strong security through its various protection mechanisms such as two factor authentications, multi chain isolation, information encryption and smart contract control
• Multi Chain and Cross Chain Support : RiCaaS’s multi chain support ensures that users can have different access rights in different roles without increasing hardware costs, while its cross chain support makes RiCaaS compatible with other blockchains
• Contract Management : RiCaaS’s smart contract management process can greatly shorten the user development cycle and reduce development pressure
• Consensus and Open Mechanism : RiCaaS supports users defined and endorsement consensus plug ins to facilitate users for flexible selection while being an open service platform, also supports other blockchain partners such as BCOS and TrustSQL
• On Demand Storage : RiCaaS offers a large number of storage layer solutions to meet the different needs of users
• Network Management : RiCaaS is able to provide a high speed low latency blockchain network, which can provide high reliability communication without overloading
• Account Management : An organization will have their accounts placed in Tencent Cloud’s blockchain.
• Payment Supported : RiCaaS also supports FIAT payments using debit and credit cards, offering users a more flexible payment options and digital assets.
How RiCHAIN can help other industries?
As a Web 3.0 oriented blockchain, RiCHAIN is able to help many businesses from various industries to boost their businesses using the digital economy, either by lowering the threshold of entry into various industries or giving users more freedom around repetitive tasks to devote their time to other tasks. Its advantages as a consortium blockchain contributes towards the accomplishment for many of these use cases, often simplifying their processes, and giving users better control. Here are some examples of how RiCaaS can help empower the industries
• Creating shared ledgers : RiCaaS can help shorten the process for crafting insurance claim documents, cross border remittances and bank settlements. It can also simplify auditing processes while also lowering its costs
• Notarizations and Records : RiCaaS can help create, preserve and issue authentic digital records such as certificates, bills, and contracts, effectively improving the supply chain finance process.
• Anti counterfeiting traceability : RiCaaS can prevent the use of forgeries or fake products such as medical drugs, food and prescriptions by providing traceability using the unique data imprinted on these products
• Sharing economy : The power of sharing economy allows you to save up on wasting unnecessary resources by pooling them together and sharing them in a consortium chain.
• Reduced Costs : Businesses that transition onto RiCHAIN will have its operational cost reduced, by eliminating unneeded resources and middle mans
• Improved Security : RiCHAIN’s immutability, visibility and traceability can help protect companies and businesses from frauds and scams
Case Study : NFTs
NFTs are digital certificates kept and verified on a blockchain to represent ownership of a unique digital asset such as art pieces. The NFTs created by users are then stored on a blockchain for trading purposes in NFT Marketplaces between buyers, sellers, collectors or even creators themselves. RiCHAIN plays a very important role for buyers sellers and creators as it offers:
• A secure and protected platform using data isolation that will keep creators and users’ assets safe from hacks and malwares.
• Option for Fiat payment
• Fast and responsive transaction speed up to 5000 transaction per second
• A stable and reliable network 24/7
• Low transaction fee
• Easy programming as RiCHAIN support Golang, Javascript, Java, EVM and Solidity
Find Out More About RiCHAIN
Email us at contactus@riverse.com and follow us on our social media:
Website: www.riverse.com
Twitter: https://twitter.com/riverseremember
LinkedIN: https://linkedin.com/company/riverse-com
RiVERSE
RiVERSE is a Web 3.0 oriented solutions provider that focuses on a 360 degrees revolution of the digital economy by creating innovative products, services and applications that allow the masses and businesses to adopt and transition into a digital economy through RiVERSE’s infrastructure :
RiLEX – An NFT Marketplace
RiCHAIN – A consortium blockchain
MemoRi – A Virtual Universe where users from all legacies
Kar Yee Choo
RiVERSE Singapore Pte Ltd
contactus@riverse.com
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