Root Blockchain: Pioneering the future of Blockchain for Business
Without doubt blockchain technology has the potential to transform the world as we know it.
Innovative consensus technologies have the power to disrupt finance, global supply chains, education, health and many more industries. Innovative enough, in fact, to drive huge price rallies and raise billions in Initial Coin Offerings (ICOs).
Bitcoin is no longer the domain of a geeky few, with crypto talk making daily headlines. Yes, believe the hype!
Yet its not all roses: blockchain-based technologies have a variety of major technical challenges that make them still too impractical for mass adoption. Think here of the prohibitive costs associated for businesses that want to adopt blockchain or how to even integrate it into their already existing IT infrastructure.
That could all be about to change however with Root Blockchain.
Root Blockchain (RBC)
Root Blockchain is designed to solve real-world business problems. In simple terms, it is an innovative Blockchain as a Service (BaaS) platform, that allows businesses to overcome the complexities and challenges of adopting blockchain technology.
This first of its kind hybrid blockchain platform comes with a range of flexible options, giving users a well-developed API to interact with blockchain. It is this API driven element of this project that makes Root Blockchain especially unique and innovative. RBC’s vision is to solve this accessibility challenge of blockchain by giving businesses the benefits of this technology without having to focus on developing it.
By making the integration of blockchain into pre-existing business structures easy, it removes this burden. And add the abundance of security and privacy features Root Blockchain, it not hard to see why many in the industry are so excited about the project.
What does RBC seek to overcome?
While a number of other platforms also offer Blockchain as a Service, what distinguishes RBC?
Take Ethereum as an example. It is a programmable blockchain network on which business can write their own smart contracts. Yet it is far too impractical for the various needs of running a business.
For starters, Ethereum’s transaction confirmation is too slow to run a complete business over the network. Secondly, with increasing data, there is an increase in mining fee, yet businesses typically need significant amounts of data in their transactions. Third, Ethereum offers no real privacy - an issue for any business.
How RBC works
At the core of the Root Blockchain platform is an innovative system that speeds up transaction confirmations on blockchain - while also keeping the costs minimal. RBC is able to do so, because it only stores digital fingerprints of transaction data in the blockchain and makes the storage of the complete data option. If this additional data storage is desired, RBC offers a separate secure digital vault for encrypted storage.
The benefits of this approach are plentiful. For starters by restricting what is stored in the Root Blockchain, RBC allows enables to access a much faster feedback loop for transaction confirmations.
The add-on option for secure, encrypted storage means users have the choice and means of reducing their total costs. This also gives business the added benefit of choosing to keep confidential data which is decoupled from the actual blockchain while simultaneously utilizing the benefits that blockchain has to offer.
On top of these features, RBC also offers business a range of models to choose from, including private and consortium blockchain options.
To learn more about this project visit https://rootblockchain.io