ReapChainPrice

(REAP)

ReapChain is a hybrid blockchain project designed to solve the "blockchain trilemma" (scalability, security, and decentralization) by integrating blockchain technology with the Internet of Things (IoT) industry. It aims to create a more secure and transparent IoT ecosystem, tackling issues like security vulnerabilities and data processing limitations prevalent in the current IoT market.

ReapChain tackles the blockchain trilemma (scalability, security, decentralization) and critical IoT issues. It addresses security concerns in IoT devices due to a lack of authentication and the challenges of processing large data volumes at high speeds with traditional centralized methods. Specifically, it prevents data contamination and enhances security in IoT by providing unique identification to objects.

ReapChain utilizes a Shell-Core structure, combining a private blockchain (ReapMiddleChain) for high-speed processing with a public chain for transparency. Its consensus algorithm is Proof of Double Committee (PoDC), an improved DPoS/BFT for enhanced security and decentralization. The Reap SDK connects and authenticates IoT devices using unique Private IDs (PIDs) to prevent data forgery, while ReapMiddleChain rapidly processes time-series data using cell block processing.

ReapChain aims for high transaction speeds, targeting 2,500 transactions per second (TPS) on its main chain and 100,000 TPS on ReapMiddleChain. This is primarily achieved through a rapid 2-second block generation cycle and its innovative Shell-Core structure. Within this structure, ReapMiddleChain efficiently processes time-series data at high speeds using a method called cell block processing, ensuring quick and distributed data handling for IoT applications.

ReapChain focuses on the IoT industry for secure data management and device authentication. Key use cases include Cold Chain Logistics for temperature-sensitive products, integrated payment services like PayNara, and store management solutions such as NaeilDream. It also supports traditional market platforms (Jangboda), FinTech applications (payment, credit, remittances), and gaming (real-time NFT transactions). ReapChain BaaS further facilitates blockchain solution development across various IoT fields.

The REAP token is ReapChain's native cryptocurrency, essential for network operations. It's used for transaction fees, rewards, and incentives. Users can delegate REAP to standing committees to receive compensation. The token also plays a vital role in fostering a competitive business model and a prosperous token economy, supporting the activation of IoT specialized platforms, and enabling reasonable fee and incentive systems within the ecosystem.