Getting started with RaiBlocks

After a tip off from a friend, I’ve spend a few hours in the last week messing with RaiBlocks. RaiBlocks are a relatively new currency which have some rather interesting technology. It’s a new type of blockchain which aims to solve some of the problems in chains like Bitcoin… i.e. high transaction fees, and slow transaction times. To find out more checkout the sites below:

The main website is here:

There is a useful FAQ here:

I bought my first 0.1 BTC of RaiBlocks a few days back and it’s already gone up in value… so a nice start :). Still there is work to do on the main wallet.

I downloaded and ran on a Windows machine, but had some trouble syncing… i.e. after nearly 48 hours it still wasn’t anywhere near done! Apparently this has a lot to do with the type of technology used, i.e. the Block Lattice. This apparently means that you’re really downloading millions of tiny blocks / accounts rather than the more normal larger blocks of Bitcoin or other currencies. This puts a big load on the file system which takes a while to process everything. Anyhow, thankfully there is another way. Download the entire chain upfront and then let it sync the final pieces. This is described here:

That link also has the latest download files. I managed to follow the instructions and get everything synced. One thing to point out is that it would appear the big number in yellow in this shot below is the blocks you have downloaded and if you have a number in brackets next to it, then that is the ones still remaining to be synced.

Screen Shot 2018-01-06 at 13.44.33

Anyhow, once all this was done the wallet fully synced and then my transaction entered the pending state. It seemed to stay like this for a while but after shutting and re-opening the wallet it showed up as confirmed. This can be confirmed using the block explorer and transaction ID:

Anyhow, it seems like this technology is growing in popularity and hopefully as it gets onto bigger exchanges in 2018 it will become mainstream and increase in value further.

Thanks for reading.