What is ReapChain ($REAP)?
ReapChain is a hybrid protocol mainly facing the IoT industry, which is based on the PoDC (Proof of Double Committee) consensus algorithm that improved the DPoS (Delegated Proof of Stake) and PBFT (Practical Byzantine Fault Tolerance) algorithm. The objective of ReapChain is to build a secure, efficient, and transparent ecosystem for Decentralized Application (DApp) service providers.
What is PoDC (Proof of Double Committee)?
PoDC consensus was originally developed by ReapChain which improved DPoS and PBFT algorithms. In PoDC consensus, only 29 nodes (14 standing committee nodes and 15 steering committee nodes are randomly selected from general nodes) participate in the consensus process though the network is expanding. Thus, the efficiency and the degree of decentralization of ReapChain protocol can be proved.
What is $REAP?
$REAP is the native token of ReapChain. The primary utility of $REAP is serving as fuel in ReapChain ecosystem. In addition, $REAP will be rewarded to $REAP holders, standing committee nodes, and steering committee nodes from the gross transaction fee.