Republia Ico Review: digital space and operates mechanisms based on blockchain technology


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. “They-ecosystem” is a new stage of management that excludes mediation and provides platform users with an opportunity to influence the development of the system and make decisions according to different changes. 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.

Hard forks

At the same time, hard fork entails the creation of a new network chain which no longer operates according to the rules that were established by an old protocol of the blockchain. The nodes of a new and an old network are incompatible since hard fork means changes in the mechanism of consensus itself. According to the experts such an oversaturation of the industry with so many variations of one crypto-currency undermines the trust of users towards blockchain, because, in fact, a hard fork is a side effect of disagreements within the crypto community. Many crypto enthusiasts are sure that instead of permanent separation from the main networks, it is better to come to a common agreement.

Protection of fraudulent projects

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.

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, the participant that owns RepubliaID becomes a full member of Republia community and can directly influence the life of the community.


Project Specific Section

The developers of the project laid a powerful technological foundation, due to this foundation all elements of the ecosystem will be realized with higher efficiency, than existing technological solutions, thus, the basic principles of the operation of blockchain technology will be observed – decentralized management, justice, and pure democracy. The goal of Republia project is to create a large-scale decentralized ecosystem, which combines elements of countries that are familiar to us and mechanisms based on blockchain technology, where users make decisions through consensus and influence modernization of the entire ecosystem directly.

Transparent and trustworthy management system

The large-scale ecosystem of Republia allows its users to make important decisions in the life of Republia and to influence the modernization and expansion of ecosystem elements. Such possibility appears due to Republia operation within the framework of “we-ecosystem” model, which, in turn, is aimed at direct management of the platform, avoiding relevant regulatory authorities.

Republia Bank

RPB coin is the 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.

Team

Member

  • Daniel Shulyaev – CO-FOUNDER
  • Konstantyn Denysenko – CCO
  • Vladyslav Gyrych – CO-FOUNDER
  • Hayk Khachatryan – TECHNICAL DIRECTOR


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