RChain (RHOC) is a cryptocurrency made by mathematician Greg Meredith in 2016. It is a cooperative-built blockchain platform that uses a proof-of-stake (PoS) consensus algorithm to provide a fast, secure, and scalable technology platform.
The RChain blockchain-based platform aims to address the world's greatest problems including climate change, data security, digital identity, and many other challenges the world collectively faces today. It intends to do this by providing a platform that promotes the proliferation of social coordination technologies. Additionally, RChain claims to be a breakthrough in concurrent computational systems that unshackles the blockchain. The project also claims to have ultra-fast and globally scalable transactions at low execution costs while maintaining security at scale.
The RChain platform is said to be built, nurtured, and governed cooperatively in a transparent and open-source cooperative with members from around the world. The RChain cooperative was formed in January 2017 to steward the development and progression of the RChain platform. RChain Co-op members experiment with governance models and provide support for RChain to become and maintain its place as a publicly owned and operated information utility. To become a member of the RChain Cooperative, you must pay a one-time fee of $20 and spend at least $10 on fees once the platform launches.
RChain has a maximum token supply of 1,000,000,000 RHOC, a total supply of 870,663,574 RHOC, and a circulating supply of 373,789,868 RHOC. RChain held a private token sale in August 2017 where qualified investors purchased RHOC tokens with a minimum investment of $50,000. The RChain cooperative raised a total of $15 million by selling tokens at $0.20 each.