Updated: Jan 13
What is RiveX?
RiveX is an interoperable and scalable layer-2 on-chain and off-chain solution built on Wanchain and private chains, combining the strengths and virtues of both public and private chains to empower scalable decentralized applications, enterprise solutions, and decentralized finance.
Decentralized Apps are making huge progress but the current blockchain ecosystem is not prepared to scale as per the demand. The issues of slow block confirmations and high gas fees need to be solved before we target mass adoption by mainstream users. Most importantly, it needs a great user experience. We aim to change that by simplifying the interaction between users and the decentralized world. We want to make interacting with the decentralized ecosystem so easy that anyone can do so without worrying about the complexity of the underlying system.
RiveX has chosen Wanchain as the main platform to showcase its scalability, enterprise solutions and decentralized finance use cases. RiveX network has its very own dedicated features that leverage on Wanchain’s interoperability and scalable decentralized applications, enterprise solutions, and decentralized finance, or any other protocols which Wanchain has already connected with. RiveX can easily integrate these solutions or features and aims to provide developers, enterprises and applications with tools to easily integrate into RiveX’s ecosystem via its robust SDK and API library. This allows developers or enterprises to develop their own solutions and migrate over to RiveX to leverage on the RiveX network and take advantage of the features provided.
Why build on Wanchain?
Building on Wanchain’s private chain known as Lanchain will allow dApps built on RiveX to seamlessly connect to Wanchain’s public chain anytime they need. This will enable cross-chain communication with other blockchain protocols like Bitcoin and Ethereum, as well as Wanchain’s upcoming integration, EOS, which is scheduled for Q1 2020. Below are some of the key features of Wanchain’s private chain.
- Privacy Protection
- Cross Chain
- Rapid Deployment
- High Performance
- Highly Customizable
Below are some of the examples features of RiveX:
1. Scalability — RiveX addresses the problem by moving operations off-chain to be handled separately. For example, any computations regarding privacy, saving resources, obtaining lower latency and so on can all be done off-chain without the need to record every operation on the parent chain. The result is a more effective use of computational power without the need for the parent chain handling all transactions and slowing down the network.
2. Side Chain — One of the most vital aspects of modern blockchain technology is the use of both public and private chains. It increases security and privacy. RiveX aligns enterprises, applications, and developers where it comes in as a middleware to enable these actors to communicate with each other. Not only that, the end-users are able to be part of this ecosystem as well. Blockchain provides us with a future in which an authorized third party is not needed anymore. That is why we do not need a trusted responsible person or organization in charge of the network. At RiveX, we aim to provide everyone in RiveX’s ecosystem with cryptographic end-to-end encryption with privacy features.
3. Interoperability — Blockchain interoperability provides an option for recognition or interaction on existing blockchain networks. We can almost compare interoperability with decentralization. Interoperability provides us with an option to share information across all existing blockchain networks. For example, A person on the Bitcoin network can send data to the RiveX network and you can easily recognize and interact with it. The main advantage is that it removes the need for a middleman, which cuts costs, saves time and removes the central point of failure removing the risk.
4. Developer Toolkits — A robust software bundle of functions and utilities that enable developers, applications and enterprises to integrate on RiveX’s ecosystem. A rich selection of tools and library to seamlessly connect applications to RiveX’s operating environment. RiveX’s developer toolkits are built for web3. RiveX’s technology is easy to integrate with a rich selection of use cases.
5. Decentralized Finance — Decentralized finance is conventional finance tools built on blockchain. These tools are designed to showcase the advantages of operating on a public blockchain such as censorship-resistance and improved access to financial services. DeFi is open finance, where ecosystems of existing blockchains, digital platforms and protocols are “ingratiating” themselves with existing financial structures. RiveX is building DeFi use cases as well as providing a platform for anyone who wishes to build DeFi applications on RiveX. RiveX wil be planning to introducing DeFi initiatives such as a decentralized exchange, derivatives products, and other future DeFi products.
RiveX Core Components
The RiveX wallet will be the core component of the WRDEX. Users will be able to access the DEX from all platforms using the RX Wallet, as well as WanMask, the Google Chrome Web extension. Ledger and Trezor hardware wallet support are in the midst of integration. Users will be able to store their assets on a connected Ledger or Trezor for added security in the future. RX wallet also features multiple asset storage as well as a shared wallet account which enables users to create or join an existing shared wallet. The idea of a shared wallet is similar to that of a multisig wallet.
A preview of the WRDEX integrated with the Rivex Wallet. Users will be able to access the WRDEX from within the Rivex wallet or browser (browser wallet and WanMask extensions supported)
EROX — Featuring xOffice
What is xOffice?
xOffice is a powerful online office suite that supports all major documents, spreadsheets and presentation file formats, which you can integrate into your own infrastructure. Key features are collaborative editing and excellent office file format support.
Supporting native RVX token and Ethereum as well as ERC-20 tokens