Saying Raiblocks’ surge to the top 20 caught the crypto market surprise would be a colossal understatement. Its chart on Coinmarketcap displays an incredible surge in such a short span of time. Between December 03 and January 03, its price rose from 0.3 USD to 32 USD, representing an almost 100x gain in 1 month. What is even more incredible is that Raiblocks was traded on 2 largely unknown exchanges: Bitgrail and Mercatox, whose interface and dubious communication have led users to describe the trading experience on said exchanges as. “Trading on Mercatox made me feel like going into some sleazy basement of a 50 something creep in order to get some quick weeds.”
Why the interest in Raiblocks?
Raiblocks is simply fast. Transaction between Rai wallet is always fee-less and near instant (less than 5 seconds). Many reddit posts have attested to this claim, like this one, and this one. Without a doubt, the demand for a fee-less and instant cryptocurrency is growing. The market hungers for a cryptocurrency that does not have problems with scalability. While Bitcoin and its forks, Ethereum and Iota are proposing different solutions in order to scale their transactions, Raiblocks has showed how such a thing can be achieved while these giants scramble for a solution.
The success of Raiblocks can be attributed to many factors. First, its fundamentals showed that none of its promises are exaggerated. During its surge from $0.3 to $30 USD, Raiblocks displayed no signs of network congestion. All transaction were, and are instant. Raiblocks’ main twitter account is also responsive to user concerns and questions. Raiblocks’ developers engage with the community regularly on reddit and other social medias, and are very fast in reacting to bugs found in their codes. For example, Colin Lemahieu, Raiblocks’ main developer, announced a bug bounty program just a day after the idea was proposed by one IOTA developer on reddit. When Mercatox disabled its Raiblocks wallet due to the exchange’s traffic, Raiblocks developers worked together with Mercatox to solve the issues, and to assure the community that their coins were safe.
These moves have helped Raiblocks win the hearts and minds of many crypto enthusiasts. It is rare indeed to see a team of developers to go far and beyond their call of duty to ensure the best interest of their shareholders. In the future, Raiblocks should continue to be an attractive investment choice because its fundamentals have been stress-tested, and its developers have proven to be dedicated towards the technology.