Republia - Projects That Use Advanced Technology And Will Develop Rapidly In The Market

Starting from 2008 network of Bitcoin cryptocurrency has been undergoing a lot of hard forks. Users turn to this step in order to solve the problem of scalability, low capacity of transactions, limited block size and generally offload common Bitcoin network.

At the same time hard fork entails 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. 

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According to the experts such an oversaturation of the industry with so many variations of one crypto-currency undermines trust of users towards blockchain, because, in fact, 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.

The volatility of the crypto-market with the Bitcoin network as an example

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Informational and financial losses

Members of the blockchain community are constantly at risk by providing their data and funds to various projects. Only in 2017 several serious hacking were recorded, which resulted in losses of billions of dollars.

Background 

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. 

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 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.

Republia tasks:

- To enable users to manage components of the ecosystem through transparent and democratic management system (we-ecosystem); 

- To prevent the emergence of SCAM-projects; 

- To establish trustworthy and transparent relationship between users by means of advanced system of smart contracts; to exclude the possibility of loss or theft of user accounts through three-level security (Veracity System); 

-To provide a service for exchange of assets and the creation of liquidity for RPB crypto-currency; to introduce a coin excluding high volatility. 

Republia missions: 

- Safe and comfortable usage at each stage of operation;

- Solving global problems;

- Expansion and complementarity of blockchain ecosystem by means of Republia ICO Platform;

REPUBLIA EXCHANGE

Republia Exchange is the main platform for exchange of assets and creation of liquidity for RPB cryptocurrency. Users can choose among two types of exchanges - Rialto and Emporium, the first one was represented with the help of implementation of Atomic Swap technology with the most popular cryptocurrencies from Top-20, its priority is complete anonymity when making transactions.

Republia plans to achieve the same transaction speed in decentralized Rialto Exchange , as it happens inside decentralized analogues

Republia Exchange is a platform for making fast and secure transaction, which is ensured by Veracity System. 

Emporium provides an opportunity for the exchange and executions of transactions via internal Republia bank cards. When making a transaction by Republia debit card, certain amount of RPB coins will be sold under a market order and the transaction will be made faster, than via such popular payment systems as MasterCard or Visa, due to instantaneous operation of Atomic Swap.

Republia Exchange 

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ARTIFICIAL INTELLIGENCE PROTOCOL IN REPUBLIA BANK

The artificial intelligence system Republia Bank operates on the basis of algorithms, each algorithm is responsible for individual tasks in functioning of Republia AI:

Analysis of the situation on the market and the change in interest rates for “Parking” instrument. The algorithm for changing interest rates is an improved version of the mechanism of the world central banks. This algorithm was moved to the digital space in order to record spike on top crypto exchanges. In the addition to above, this algorithm does not react to small market movements (for example, short-term buying and selling RPB cryptocurrency, such small unsteadiness will be restored by the market independently.) The algorithm involves tools of technical analysis to determine long-term trends, while changing interest rates, which are coordinated with other bank systems.

Recording of critical points, sharp market volatility, and on the basis of collected data injects or charges money flows from top exchanges, on which RPB is traded. This algorithm is called Intervencium and it is designed to prevent short-term, but prolonged movements in the market, in order to change the trend quickly in the opposite direction. The algorithm is set to stabilize RPB cryptocurrency, it is achieved by gradual bringing the offer into the market during prolonged downward movements.  

Creation of USDR token. The purpose of the algorithm is to calculate actual indicators for demand and supply for this token, and then to generate the required amount of USDR. This smart algorithm is stabilizing, activating the release of USDR tokens in equivalent to the US dollar.  

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.  

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Advantages of Republia SC Platform:

 - usage without knowledge and experience in software engineering

- creation of individual smart contracts for developers

- reation of templates, when the solution is available based on IoT technology

• 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 sha

REPUBLIA ID

Republia offers its users a unique, improved ID Card - Republia ID. The main feature of RepubliaID is advanced security - Veracity System, which minimizes the risk of loss of funds or hacking user accounts. Also RepubliaID and Veracity System are implemented into all components of the global ecosystem, where it is possible to harm other Republia community members.

Thus, participant with RepubliaID becomes members of Republia community and can directly influence the life of the community. 

Information about Republia ID is stored in encrypted form in Cloud X, which makes Republia community transparent and helps to avoid information and financial losses. 

RepubliaID can be used in several other areas - IoT-solutions and smart contracts. Since the smart house system and other systems, related to IoTsolutions, will require personal information, a proper level of security should be ensured. In case of AI system (artificial intelligence), each user separately must provide personal information under the protection of RepubliaID for safe and decentralized teaching gadgets personally.  

Advantage of RepubliaID in voting

Using the number of your RepubliaID ensures fair and open voting, confirming that it is not falsified, as it is impossible to forge, because it is a unique, digital passport, and information about this passport is stored in Republia distributed register

Republia does not allow any falsifications in its ecosystem: user can see ID of each voter, as they all use this security tool.

REPUBLIA CLOUD X

Decentralized data storage is the future.

All data exchanged between users in Republia ecosystem is stored under reliable protection of Cloud X technology.

Cloud X was developed by Republia, and it is a decentralized cloud storage.

Large flows of information flow through Republia ecosystem. Taking care of data security, they are not stored on Republiа servers, instead all user information is stored decentrally in an encrypted form.
Economy of Republia project is built in such a way, that users are paid for the storage of data. Cloud X technology eliminates the problem of information theft. Popular services such as Facebook or Google, for the purpose of targeting, collect personal information and data about site visits. Considering this, Repulia provides complete security inside the ecosystem, because user data is stored decentrally in an encrypted form. Payment for data storage is not provided.
Republia Cloud X is a safe data storage, and it is the future of the entire global ecosystem. All information is controlled by users without centralized servers.

 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.

THE DESCRIPTION OF MINIMUM PROTOTYPE, MVP

MVP strategy of Republia focuses on testing hypotheses, but not on the reducing functionality for the sake of a cost-saving measure. All products in the early stages will be integrated into the system on the basis of reviews of the first users.

- MVP Bank

 The minimal product Republia Bank is designed for users to get to know about the bank and the “parking” system from the initial stage of the project. “Parking” is a voluntary deposit of coins. Upon registration each user gets 10 conventional units, those interests that users will receive from “parking” process, will be converted into real RPB coins.  

- MVP Wallet

 Republia Whitepaper The description of minimum prototype, MVP MVP Wallet provides the ability to test the speed of Republia blockchain and send money to each other not by hash function of the wallet, but by usual username. The system of contacts (Republia ID) is embedded in Republia Wallet, where the user can send funds to another member of the ecosystem with a single click on the contact.

- MVP Smart-Contract Platform 

Republia Whitepaper The description of minimum prototype, MVP MVP Smart-Contract Platform is developed to assess the convenience of creating smart contracts in GUI. In MVP Smart Contract Platform users can create a smart contract simply by clicking on the desired icons. Users can try to create smart contract for renting a house, monthly payment for utilities, payment of debt etc..  

CONCLUSION 

Republia project is the beginning of a new history in the development of decentralized ecosystems, as keynote idea of Republia team is direct influence and active participation of users.

This fact proves functioning using a new type of management - “Weecosystem”, which contributes to full democracy, justice, transparency and decentralization within the entire ecosystem. Since the entire Republia ecosystem is very extensive and includes various structural elements (Republia Bank, Republia ICO Platform, Republia Exchange, Republia Wallet, Republia Smart Contract Platform), every stage of secure operation was carefully thought out and provided with innovative technologies of its own design.

Republia also provides users with a comfortable environment for operations with cryptocurrencies, solving the problem of the highest volatility, by introducing own RPB coin, which an internal payment tool. Smoothed volatility of RPB cryptocurrency is achieved by artificial intelligence, created using Republia blockchain.

In the conditions of Republia ecosystem each participant will find all the advantages of using blockchain technology, which satisfy his requirements from the creation of his own ICO, generation of smart contracts, secure storage of his data to fast execution of transactions, comfortable communication with other community members and  user-friendly interface.