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RIF Token - the history of one cryptocurrency

2020-01-07

About the RIF Token project

RIF Token is a modern digital asset that operates on the basis of the RIFOS platform. The cryptocurrency is designed to run a number of decentralized services. The token is also used to launch applications that support the RSK Smart protocol. The main task of the RIV LABS company is the scaling of a unique development in order to form a single decentralized network.

RIFOS is an open infrastructure that consists of a large number of protocols that are not subject to a single control center. Officially, the developers have achieved easy access to services in various cryptosystems. RIF is a one-stop source for building blockchain infrastructure. The key areas of the project are:

effective solution to scalability problems. The productivity of Bitcoin technology in customer service is 10 million units, Ethereum - 30 million. To date, the problem of network scaling has not been fully resolved;
difficulties in integrating the system into the current management model. The main reason for this process is the lack of qualified specialists. The RIFOS system is easy to learn, which allows it to be used in various fields.
The technological skeleton of the cryptocurrency includes a combination of Bitcoin with the RSK smart protocol. This tandem ensures the smooth operation of functional applications in a decentralized network. At the same time, the speed of transactional processes increases significantly. A feature of the RSK Smart protocol is the hiding of a number of technical features while using dApps functionality.

The smart combination of the Bitcoin mining process with the RSK Smart protocol helped increase the scalability of the entire platform. A unique development allows in the near future to consolidate a large number of blockchains in operation.

RIF Token features

The technical characteristics of the project clearly show the capabilities of RIFOS. The lack of a clear hierarchy of elements in the protocol has a positive effect on the formation of the entire decentralized network. The functional platform has the following architecture:

The fundamental foundation is the Bitcoin blockchain.
RSK SMART acts as an additional chain. The protocol allows you to combine smart contracts that manage RIF tokens.
RIFOS protocol + provider services.
Standardized API type libraries. The API is used to develop decentralized type applications.
The root structure of RIF OS includes a large number of protocols. A holistic and easy-to-use system gives organizations wide access to a wide range of services. There is coherent consistency and accelerated deployment between functional elements. The RIF OS protocol is a great addition to the RSK Smart Contract network. The set of interface conventions has the following variations, namely:

directory - specification protocol;
name service - provides users with a domain and a clear name;
storage - opening access to third users;
data feeds - third-party forecasts;
payments - processing payments outside of a third-party company;
lumino network - increases transaction throughput;
communications - data transmission channel.
The technological capabilities of cryptocurrency allow it to be used in various spheres of life. The technology is great for organizing the work of government agencies. Blockchain builds trust among citizens by viewing and sharing data. In financial services, settlements are optimized and a significant amount of time saved. Operations are carried out without delay. The most common areas of application of the system are:

Insurance. The procedure helps reduce the risk of fraud by organizing ownership checks.
The property. Asset tokenization is an orderly process that does not require intermediaries.
Art. The technology allows the development of unique digital galleries and highly liquid platforms for organizing trade in works of art.
RIF Token technology can also be successfully used in the field of commerce. So, a special register is created to organize the supply chain. Data in the form of product labeling is entered into the list. This ensures a high level of quality.

How is RIF Token created?

RIF LABS Limited was established in 2011. It was during this period that active development of the RIFOS protocol began under the guidance of a team of professionals. The first publication of the official document took place at the end of autumn 2015. The article caused a real sensation among IT specialists, as it included new protocols and a system of smart contracts that are reliably protected by the Bitcoin network. The operation of the platform was planned to be launched on the basis of merged mining.

The published development concept has become a real event in the world of cryptocurrencies. A team of specialists began active work in this direction. As a result, after 700 days the world saw the first test version of the network. January 2018 saw the appearance of the Mainne beta version on the market. This event allowed the project to reach a qualitatively new level of project development.

As of December 2019, RSK Smart technology is in the global development stage. The functioning of the international team is aimed at scaling the service and the systematic development of the international community. The official publication of the RIF Token smart contract on the network took place in early November 2018.

The project development roadmap for the next 2 years has the following direction:

October - December 2019. The domain name registration process is carried out through a quality implementation of the RNS protocol. The framework also allows searches for specific domains. The RIF Payments resource is intended for collecting transaction fees. The RIF Data Feeds version will become available to users.
January - March 2020. The launch of the RNS system provides the ability to quickly register domain names. RIF Payments will be used to make cross-token payments. Personal data will be encrypted using the Storage protocol.
April - June 2020. Developers establish reliable communication between RNS and RIF. The security of the model comes at the expense of Storage. The protocol also provides high-quality storage of information.


Is RIF Token Infinite?

The top management of the project planned not to conduct an ICO. The accumulation of funds is carried out through the implementation of private token sales. Over the entire period of time, 22,000 BTC were collected, 4.5% of this amount was Ethereum.

The distribution structure of tokens in the system is as follows:

40% - RIF share within the private token sale;
40% - own RIF LABS. Every month, 1/60 of the total number of coins will be unlocked;
20% is owned by official advisors, shareholders and the development team. Asset unlocking frequency is 1/48 within a calendar month. This algorithm will be observed until 2023.
The total emission of a digital asset reaches 1,000,000,000 coins. The RRC-667 format token has changed several times. Today it is a unique modification of the ERC-20 standard. The usual scheme is not available for registered users. The functioning of the bonus system for dApps developers allows you to earn good money. The total reserve of coins in the system for the team is 21,000,000 RIF, which is a good sum in monetary terms (approximately $ 1.25 million).

Strengths of RIF Token

RIF LABS has introduced to the market an efficient way to solve problems in the blockchain system. In January-February 2020, a new protocol will be launched that will reliably control all transactional processes. The fast speed of operations is achieved due to the work of a decentralized application in the computing system.

The RIF Labs development will prove itself 100% in the future. The official White Paper contains information that clearly shows the exponential growth of cryptocurrency in the market. Experts agree that RIFs success is inevitable.

The RIF (MP) marketplace, where service providers connect with their potential users, is highly promising. It will be used as a building block for the exchange of services in Decentralized Economies (DSE), built on top of RSK and RIF. It is also the place to go for RIF services. Users will have access to persistent storage (file pinning service), domain exchange service for RNS, and watchtower service for RIF payments. The addition of protocols will be carried out in accordance with the approved development map.

The RIF Marketplace will include a set of smart contracts indexing offers on the RSK blockchain, a marketplace library that provides direct access to dApps developers. The highlight is the customer friendly user interface that doesnt have broad technical skills.

RIF is the first open source smart contract platform that is securely secured by the Bitcoin network. The key advantages of the system are:

bitcoin-friendly: Bitcoin was the first and by far the most secure blockchain available;
security: the RIF blockchain is merge protected, which means that RIF can provide the same security as Bitcoin in terms of avoiding double spending and finality of settlements;
scalability: RIF can scale up to 100 transactions per second without sacrificing decentralization;
flexibility. Instant payments allow for new use cases such as in-store ready-to-pay purchases and microloans;
RIF Laboratories have implemented RIF OS protocols on the solid foundation created by the RSK Smart Contract Network.
Also, a significant advantage of the RIF Token cryptocurrency is the presence of a professional team. A large number of specialists are working on a global project. The composition of the project is as follows:

S. Lerner is the founder of the company and the head of the scientific department. The specialist has a PhD in Computer Science and was previously a successful SEO at Certimix. The expert also has audit skills.
D. Zaldivar is the founder of RSK Labs. An IT specialist took an active part in the development of Koinbax in Argentina back in 1995.
R. Altman - Project Operations Manager. In autumn 2015, the specialist joined the RIF team.
A. Eidelman - head of the technical department. A former Agiels employee, he has practical marketing skills.
G. Kurman - Senior Public Relations Manager. The specialist is also a co-founder of Koinbanx.
A. Muslera - official adviser on the strategic development of the system.
M. Palle is a Staff Operations Advisor at RIF Labs.


RIF Token in TOP currencies

As of mid-December 2019, RIF Token ranks 115th in the official CoinMarketCap rating. The coin rate on the market is $ 0.05. Experts note that in the process of implementing the roadmap, this indicator will multiply. The unique technology is in demand and has a wide range of applications. Market capitalization could rise from $ 33 million to $ 50 million. These projections are highly accurate. In this regard, today the optimal conditions for buying a coin have been formed in order to make money on the difference from the sale in the future. At the same time, the net profit will depend on the trading volume.