If you are a RaiBlocks (XRB) investor, then you have been patiently waiting for the launch of the underlying product for this cryptocurrency – RaiExchange – launch to finally happen. Well, that day has finally arrived, and the RaiBlocks coin is trading 22% higher (compared to 24 hours ago) in anticipation of it.
Waiting and Waiting
People have been able to register accounts on the soon-to-launch exchange for weeks now, but they have sat patiently waiting while the platform still wasn’t live. This was ten days ago:
We're still hard at work to get RaiExchange launched ASAP. All good things take time.
We're working with the @raiblocks team to make sure the node changes are stable on our system. Our BTC integration is pretty much done. Just the last minute details now!
— RaiExchange (@RaiExchange) January 16, 2018
Sure, there are a lot of cryptocurrency investors out there who don’t care much that the coin they’re investing in isn’t attached to a tangible, fully-realized product. But teasing your fans for ten days like this is pretty merciless.
The RaiExchange platform is literally on the cusp of activation. How do we know that? The very active and passionate RaiBlocks Reddit page is talking about how it is hours away – and Twitter, of course:
Not much longer until we launch – a little more testing has to be done before that comes but at least now you can get your account itself situated and ready, especially those who never received a confirmation email or lost your password because of LastPass (we fixed that too)
— RaiExchange (@RaiExchange) January 26, 2018
Also, one of the developers for the exchange commented this on the RaiBlocks Reddit thread about five hours ago, saying that they are 95% READY:
There are probably a lot of people out there refreshing over and over, hoping that it will finally be live right now. But, unfortunately, they still get the “Launching Soon” button (seen below).
What will the exchange do?
RaiBlocks (XRB) is essentially a better version of Bitcoin (BTC). It’s free, there are no miners, and scalability isn’t an issue thanks to its “block lattice” network. Each block contains its own transaction, and updates account balances mathematically after each exchange. So there is no public ledger with a transaction history, like with Bitcoin, but it means that it can have instant transactions and won’t slow down as more people use the system.
Right now, it looks like the RaiExchange platform is only featuring BTC/XRB pairing. But, according to their twitter account, Litecoin (LTC) and Ethereum (ETH) will come soon after.
Meanwhile, the RaiBlocks coin is surging
The RaiBlocks coin’s price journey took it from about 30 cents in the first week of December to more than $30 in the first week of January.
While we wait for this launch to finally happen, this currency’s price is continuing to rise. It’s a welcome relief for anyone who bought during the first week of January, however, because this coin has fallen by about $20 since then – currently at $15.82.
It will be interesting to see how high this currency’s price goes after the exchange is up and running.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.