Rapids: A Financial Solution for Social Media
The Millennials generation has been referred to as the first Social Media generation as our lives have increasingly shifted from physical interaction to online environments. Each subsequent generation following Millennials has displayed a desire and even a need to utilize the internet-enabled devices which have deep-rooted themselves in our way of life. As technology advances, we find ourselves communicating and corresponding through cyber channels, proving these devices, and online social networks alike will only continue to embed themselves within our society.
Rapids aims to leverage these online channels along with the recent unveiling of the blockchain. Satoshi Nakamoto changed our financial technology by presenting Bitcoin (BTC) and its underlying blockchain technology. After Bitcoin’s successful integration, an entire market has been created, hosting cryptocurrencies which each claim a different use-case and solution to a problem. Rapids was established to make our lives a little bit easier by introducing a quick, efficient, easy-to-use cryptocurrency throughout the Social Media Networks which we find ourselves using on a daily basis.
Rapids aspires to make our financial transactions as easy as sending a direct message to a friend on Facebook or tweeting a comment on Twitter. Rapids will enable the user to share, gift, and pay Rapids (RPD) to any friend, family member, colleague, company, or even pay an anonymous individual. Several individuals formerly from other cryptocurrency projects have come together to pool their knowledge and resources together to create a Social Media cryptocurrency which will change the way we transact online.
We have called our project Rapids because the name emulates the speed of Rapids transactions. The Rapids platform has begun as an ERC20 token operating on the Ethereum blockchain. Our developers have chosen the Ethereum blockchain due to its stability, versatility, and reliability to form a solid foundation from which the Rapids development team can continue to develop the Rapids platform.
Once the Rapids team has reached its Q4 2018 goal of listing Rapids on at least two cryptocurrency exchanges, a token swap will commence into the proprietary Rapids blockchain. This blockchain will be built upon the Nist5 algorithm, providing the utmost security, speed, and power efficiency available. The Nist5 algorithm is comprised of the finalists from a hash function competition held by the National Institute of Standards and Technology, a leading U.S. science laboratory promoting innovation and industrial competition. The combination of the best features of each finalist offers a secure, performance-based algorithm.
The Rapids blockchain will also be based on the Proof of Stake (PoS) consensus algorithm after the token swap, providing the best possible distribution across Rapids holders. Proof of Stake is oftentimes considered superior to the Proof of Work consensus algorithm adopted by other cryptocurrencies such as Bitcoin. Proof of Work consumes much more energy and requires specific hardware and specialized knowledge of hashing algorithms. Proof of Stake is more efficient with energy consumption and much more user-friendly.
The current specifications of Rapids include:
- Ticker symbol: RPD
- Type: ERC20 token
- Total Supply: 35 Billion
- Initial Distribution: 15 Billion
Post-swap specifications include:
- Ticker symbol: RPD
- Type: PoS
- Algorithm: Nist5
- Total Supply: 35 Billion
Once the Rapids token swap has culminated, the development team will be able to focus on the essential development goals unique to the Rapids platform. Some of these goals include:
- Windows/Mac/Linux desktop wallets
- iOS and Android mobile wallets
- Atomic swaps
- Web browser/social media widgets
- Pre-paid Visa Debit cards
These goals are all laid out in the Rapids whitepaper as well as the roadmap which will be available through our website http://rapidsnetwork.io/ and are being drafted at this point in time. Their release is impending and will be available momentarily. The Rapids team has multiple experienced individuals ready to meet every one of the goals proposed above and are diligently working to realize the project’s objectives. A small preview of our roadmap:
To find out more about Rapids, visit:
Author: UnderTow
