Republia is a large-scale decentralized ecosystem, that includes elements of the countries that are familiar to us in the digital space and operates mechanisms based on blockchain technology.
The coordination structure of Republia is analogous to “we-government” model that is aimed at direct management of the ecosystem, without involving the relevant regulatory institutions.
“We-ecosystem” is a new stage of management that excludes mediation and provides platform users with the opportunity to influence the development of the system and make decisions according to different changes.
The project collected all the most relevant mechanisms of the real countries that are familiar to us and combined them with highly efficient technologies.
The global ecosystem Republia is a set of operating tools based on well organized structure, operating under a set of internal rules, that ensures safe and comfortable usage at every stage of operation.
Solving the problem of hardforks
It is known that crypto community can be conditionally divided into two groups. The first group perceives crypto-currencies as a payment tool, and the second group considers them as an investment tool. Often these two groups argue with each other and it leads to uncompromising division of the cryptocurrency into two new digital assets with own rules and regulations.
The problem is that fragmentation will not stop, as a result, the market will be filled with new coins and tokens.
Since Republia acts on “we-ecosystem” ideology, where users can directly participate in the process of modernization of technological solutions, the project is based on the advanced system of consensus, which is one of the main advantages of technology. Modernization means addition of new functions to the subsystem.
Due to voting system, that leads to adoption the decisions by consensus, and then automated updating of the protocol among users, Republia completely solves the problem of hardforks.
Republia creates a single public blockchain, and its protocol is automatically updated. Since the system of the blockchain protocol is divided into three layers (network layer, layer of consensus, transaction layer), separating one layer from the others means that protocol can be modified without need for hardfork, the general system is doomed to split because of hardfork.
Protection of fraudulent projects
Republia can be considered as a platform for ICO, while it protects the entire blockchain community from the emergence of projects that are ultimately announced as SCAM. This goal has been achieved by expanding the entire Republia ecosystem with interrelated projects, rather than adding competitive ICOs, as it occurs inside, for example, the Ethereum Platform. However, competition remains in another form. Users compete for modernization, but not for maximizing profits.
To add the desired project to Republia ecosystem you will need to submit an application within Republia ICO Platform and go through voting phase among users, which is based on the layer of Republia Blockchain consensus protocol. Users can apply amendments to any subsystem as well, when most users consider a particular function as an error in the ecosystem, they can vote for changing or deleting this function. Each decision on a particular vote is entered in the blockchain and has its own hash and hash of the decision that was adopted or rejected. Also participants who voted will be recorded in the block, their decisions and time of the vote will be shown to the entire community, this type of the block can be viewed at any time, in this case falsifications are impossible.
Thus Republia is a complex system, in which each subsequent addition is a product, and there is a demand among real users for this product.
Data security within Republia ecosystem
Security is a priority for Republia team, all important information is stored in Cloud X. It is a decentralized data storage, that provides security of information and funds in the context of the entire global ecosystem.
Republia offers its users a unique digital analog Identity Card - RepubliaID. The main feature of RepubliaID is advanced security, which minimizes the risks of losing funds or hacking user accounts. Moreover, RepubliaID is used to identify users in the voting, exchange and Republia banking system. In this way, participant that owns RepubliaID becomes a full member of Republia community and can directly influence the life of the community.
Republia offers three-level security - Veracity System:
- The first level is a password and biometric identification of users;
- The second level is a confirmation by email + two-factor authentication;
- The third level is RepubliaID.
In case of hacking attempt Veracity System automatically freezes all user data, including his private information and information on his accounts. Moreover, Veracity System will help to ensure that user can access his data and funds within the shortest period of time. Veracity System is an innovative security system, which is the first product in the line of Republia development using artificial intelligence.
Republia ICO Platform
Taking into account all the drawbacks of existing market solutions, Republia presents its own ICO Platform. All elements of Republia ecosystem will be interrelated, as they will logically complement each other. For example, consensus will not allow to pass ICO, if such a project already exists in the system, since there is no need to create projects on the platform several times, taking into account narrow market. User account will show the requests of teams, wishing to conduct their ICO on the platform and supplement Republia ecosystem with their projects.
RPB coin is a main payment tool in Republia Bank, which is based on decentralized and transparent mechanisms. The smoothing volatility is a definite advantage of RPB along with other coins of the crypto industry, the goal was achieved by implementation of Republia Bank, which is the main component of the economic model of decentralized Republia ecosystem. Its main purpose is to smooth the volatility of RPB coin and two types of tokens released by Republia.
Republia Bank combined principles of the Central Banks of countries familiar to us and innovative technologies. Republia Bank automatically regulates the volume of demand and supply on exchanges. Smoothed volatility is a result of a balance and an automated analysis of the market situation. Republia participants are an integral part of the stabilization of RPB coin, as the system offers them rewards for holding coins depending on the balance of demand and supply, which are formed from commission charges for the mining of RPB and reserve fund of Republia Bank.
RPB cryptocurrency does not depend on top 10 cryptocurrency, this step provides support for the coin rate of exchange while the price of popular cryptocurrency is declining. Stability makes RPB coin suitable for both trading, long-term investments and for daily financial transactions. RPB is a cryptocurrency, which is a convenient payment tool for daily usage. Republia represents two generations of the bank - Republia Bank Classic and Republia Bank Next.
Wallets of republica bank
Republia Bank involves in its work two cold and one hot wallet. The first cold wallet performs the role of a reserve fund, which is constantly supplemented by a commission, accrued by mining. This type of wallet is formed in Genesis Block. The purpose of the second cold wallet is to accept funds when user converts RPB coin to USDR token. The third type of wallet, hot wallet, is used to pay interest rates in the bank.
Data about all wallets is available at any time in Republia Blockchain to assure users that claimed amount is stored. Republia Bank is a new era in banking, which marks trustworthy relationship between users and the structure.
Republica debit card
Republia Bank releases its own debit card, and USDR token will be a payment tool of this card, which is very convenient way of exchanging cryptocurrency to fiat funds when paying bills by debit card, since USDR is bound to a stable fiat currency - USD. Fast transactions are provided by internal conversion of RPB coin to USDR token, which is equivalent to the US dollar 1:1. Due to Republia Blockchain transactions will be executed much faster, than via such popular systems as Mastercard, American Express or Visa. Republia Bank system is configured in such a way that that users always have an opportunity to “lock in” in dollar and to have more innovative tool of management - “parking”, while receiving a stable income.
SMART CONTRACT PLATFORM
Trustworthy and transparent relationship between users of Republia ecosystem are achieved through an advanced system of smart contracts. Republia Smart Contract Platform is a “user-friendly” environment for generating smart contracts, which eliminates problems of creating, executing and managing smart contracts on the basis of Republia blockchain. This platform allows users to generate digital types of contracts without knowledge and experience in the field of creating smart contracts and software engineering
Advantages of Republia SC Platform:
- usage without knowledge and experience in software engineering
- creation of individual smart contracts for developers
- creation of templates, when the solution is available based on IoT technology
- making a search for finished projects by rating
Republia SC Platform involves three modes user mode, developer mode and template mode. The user mode in Republia SC Platform is the ability of each participant of Republia ecosystem to create digital agreements for all types of transactions with no need for extensive programming skills. The developer mode in Republia SC Platform is a chance for developers with deep knowledge in the field of programming to realize their potential in creating individual smart contracts. The template mode in Republia SC Platform is the implementation of their templates in smart contract environment, it will allow developers to share their experience in this area as well as charge fee for their templates.
Team And Advisors
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