The Issues With Legacy Blockchains While many legacy blockchains promise to level the playing field and ‘create a scalable decentralized platform for web3.0’, arguably, none have truly upheld this commitment or even came close to actually fulfilling it.
Even many big modern blockchains are often built on archaic - ironically, very much centralized - network infrastructures with intensive consensus mechanisms, which has made the technology out of reach for billions of potential users in developing nations.
As noted by the founder of Ethereum, Vitalik Buterin himself, most legacy blockchains are plagued by scalability and security issues that render them unusable to vast portions of the human population. Exorbitant gas fees and unreliable transaction speeds certainly do not contribute either to opening a valid path to financial freedom for impoverished communities.
More than that, in stark contrast to its philosophy, despite claiming to be decentralized, over 70% of Ethereum nodes are hosted on centralized servers like Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOGL) and Alibaba (NYSE:BABA). The message does not correlate with the tangible reality.
Even to young entrepreneurs looking to support the existing chains, the prospect of operating a validator node and ‘owning’ a part of the network is unimaginable due to prohibitively expensive investment requirements. For example, a Solana validator node needs to stake 50,000 SOL on the network in order to break even in terms of rewards, which given today’s price, is more than $1.6 million.
It is out of reach for most.
Cold Blockchain Reality Ultimately, the current state of blockchain technology and existing network options is a cold, bleak construct that benefits the elitist few while celebrity “founders” preach decentralization and the provision of financial services for all.
As a matter of fact, the process of enabling the impoverished parts of the world is being stifled by technology itself. That is why we desperately need something fast, cheap and easy to use for everyone. Something for the people.
And it is about time for things to change.
The industry needs a truly fair, transparent and financially accessible system. A new generation type of blockchain built across a 100% decentralized network where all users are equal owners, where everyone stands on equal ground.
Introducing RaiseChain, the blockchain as it was meant to be from the very beginning.
The RaiseChain Initiative RaiseChain seeks to finally democratize blockchain solutions and deliver on the promises made by the original blockchain developers over 10 years ago by providing a mobile-first, fully decentralized peer-to-peer mobile-powered blockchain network.
Identifying the massive collective power we each hold in our hands, RaiseChain aims to open the doors to micro-entrepreneurship, making node and validator ownership accessible to literally anyone with a phone or any other device capable of computational power.
RaiseChain foresees this to be especially empowering in still developing economies.
For example, Mobile Internet availability in certain parts of Africa is witnessing exponential growth, with mobile penetration rates as high as 98% in Kenya. While the number of mobile connections in the Philippines actually exceeds its population.
Furthermore, these types of developing communities are some of the largest and fastest adopters of crypto in the world, yet they’ve been inexplicably overlooked and ignored by the wider blockchain industry.
RaiseChain aims to change this by giving everyone with any degree of entrepreneurial ambition the tools to raise their standards of living.
Not only does RaiseChain want to provide a scalable blockchain solution that offers globally affordable lightning fast transactions, it also plans to democratize node operation and through that equalize opportunities for all.
Users will be able to run validator nodes through an intuitive RaiseChain dApp and can stand to earn generous crypto rewards in just a few clicks.
RaiseChain, its design and operational philosophy could completely reimagine what it means to be a node operator, allowing validators to power a fully decentralized blockchain network from the comfort of their mobile devices. Likewise, project developers will be able to tap into the combined computing power of potentially billions of devices.
RaiseChain believes that its technology can empower vast populations in developing nations across the globe to have greater control of their financial freedom and access a world of fully decentralized services.
The RaiseChain Pre-Launch Pledge RaiseChain is being designed from the ground up without any corporate or institutional VC backing. This is to make sure its motives stay pure - to benefit the public masses, not the hidden corporate giants of the industry.
RaiseChain invites pioneers to join the hundreds of passionate blockchain visionaries and participate in the Pre-Launch Pledge, which is already underway and gathering unprecedented momentum.
This Pledge represents a unique opportunity for pioneers to gain exposure to a revolutionary blockchain protocol at its grassroots genesis with additional bonuses and benefits such as unique Time and Utility Multipliers.
Visit RaiseChain.io to learn more!
Let’s make a fair blockchain together, as it was meant to be.
Image credit: RaiseChain
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