Tuesday, July 16, 2019
Home Cryptocurrency Articles What is Rise Coin (RISE)?

What is Rise Coin (RISE)?

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Rise (RISE) is a DPOS (Delegated proof of Stake) coin which aims to enable developers to create dApps, smart contracts, as well as becoming a decentralized mobile application platform combined with an incubator service to rival centralized systems.

The Rise platform has a user-friendly web interface, making it accessible from any device such as computers and Smartphones.

The Delegated Proof of Stake algorithm that Rise coin uses allows every user on the platform to be able to vote in a delegate. There are only 101 delegates on the Rise network, whose primary work is to forge new block, and send a percentage of the reward to every voter depending on the weight of their stake.

The weight of a voter’s stake is determined by his/her Rise balance in comparison to the total pool of voters in the node.

History of Rise

Rise was created in April 2016 by Cormac Lucking and Steve Remington. Cormac used the experience he gained from working with Mintcoin as project manager, to develop the Rise digital currency. Steve currently heads the marketing department of Rise.

Benefits of Rise

Multi-purpose currency: Rise coin can be used for different purposes which include, payment of bills, sending and receiving funds, serving as a medium of exchange for goods, etc.

Efficient Money Handling: Before Rise coin was created, a lot of considerations were made, like the provision of a web platform where users will be able to manage all their cryptocurrencies in one place, pay bills, and invest in real estate through the platform.

Physical and Digital: Rise coin is not like other cryptocurrencies that are only available in digital forms, the currency exists both in physical and digital form thereby bridging the gap between virtual and physical.

Community Involvement: Rise always tries to carry its users along in terms of decision making, and it has played a vital role in the growth of the network. The community combines forces with developers by voting for the features needed to create this cryptocurrency.

Technology

Rise network uses a shift-ark hybrid which is a code from shift and ark project. Even though some people may feel that Rise is a clone from the original shift and ark project, it isn’t because the only thing Rise had succeeded in doing is to take the best feature of the project to create its unique features that cannot be found in other systems.

Rise technology focuses on dApps (Decentralized applications) which is not unique, but it creates a mobile app store for blockchain.

Rise doesn’t need a new programming language because it supports existing programming languages like Java, C#, and python.

Long-Term Goal

Rise has plans of building a drag and drop dApp development tool, where users can create their dApps without having any coding experience (Imagine WordPress for blockchain development).

The network also has a plan to change the way money is handled with the ongoing Project Acre, which will make it possible for users to invest in real estate business, and make profit from the investment.

Rise network also aims to build a mobile application store just like Google Play Store for Rise apps.

Where to Buy Rise coin?

To purchase Rise, you first need to buy Bitcoin or Ethereum from a crypto exchange that supports fiat, and then you will have to exchange the purchased Bitcoin or Ethereum for Rise in exchanges like Bittrex.com, Yobit.net, Changelly.com, Coinclarity.com, Shapeshift.io, etc.

Where to store Rise coin?

You can store your Rise coin using the official wallet that is available on the Rise website. You can also store your Rise coin using a hardware wallet like Ledger Nano S.

Conclusion

The Rise project is a promising one with a bright future.  If the rise team should fulfill their promise, then the Rise coin could soar higher grounds in the crypto space, and many investors would want to acquire the currency.

Although the project is still in its early stage, it has the potential of becoming one of the top cryptocurrencies in the world due to its amazing features.

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