The Rangers Protocol cryptocurrency is a virtual world-proof blockchain infrastructure that is fully compatible with Ethereum and natively supports NFTs and complex applications.
Blockchain is indeed a revolutionary technology, but like all technologies, it still faces significant challenges, which include network congestion due to high frequency usage, excessive power consumption and time constraints, to name a few.
Fortunately, tech companies are taking on the challenge of solving these issues to make the blockchain a more efficient platform, not just for today's competition, but also for the future of the tech industry.
In this article, we will discuss:
What is Rangers Protocol (RPG) token?
The Rangers Protocol cryptocurrency is a blockchain virtual world-proof platform that is fully compatible with Ethereum and natively supports non-fungible tokens (NFTs) and complex applications. It integrates cross-chain, NFT, and EVM protocols and allows developers to create complex dapps that offer a higher level of security while providing the convenience of internet applications.
Consensus Mechanism
This platform uses a Verifiable Random Function consensus mechanism (VRF + BLS) to reduce the consequences of high frequency trading.
Instead of having the usual Proof of Work (PoW) production count, which lasts in minutes (considered long by industry standards), the Rangers protocol performs a lock every second, lowering usage costs and protecting the network from congestion.
One of the most important features of the blockchain is to create a truly random set of numbers that is unpredictable and verifiable to ensure the security and transparency of a platform.
Bitcoin, for example, has achieved these two main aspects by using a 'hash' to constantly create random numbers that make it a secure, decentralized and transparent cryptocurrency. But despite the undeniable benefits of this innovation, its problems, including energy consumption and time constraints, prevent it from being used on a global scale today.
The Ranger Protocol addresses these issues by using VRF + BLS technology to generate random numbers at a millisecond level, which is faster than the industry standard speed.
VFR (Verifiable Random Function) serves as the core algorithm of the Ranger Protocol that helps you generate truly random numbers and performs a four-step process that is:
- Key pair generation function to generate a public key and a private key pair
- Random number generation function
- Zero knowledge proof calculation function
- Random number check function
To ensure above-standard security measures for user assets, the protocol utilizes a consensus system based on the relay chain and intelligent contract that executes multiple signatures placed on the public blockchain to protect assets from various risks.
Migration of innovative assets
Asset migration remains one of the top issues for blockchain platforms today, and the Rangers Protocol has found a way to solve this by using a cross-chain solution based on a relay chain.
NFT Protocols
It uses advanced protocols like ERC-721 to standardize NFT for digital assets and provides data rights management, data reuse and lifecycle management.
NFT support
The Rangers protocol has a feature that can record the lifecycle data of NFTs, from coinage, release of NFT pool, transaction to public networks and even NFT destruction.
The platform has also developed an 'NFT transport mechanism' to seamlessly transfer an NFT property across multiple dapps and set a specific schedule for each dapp to reuse an NFT to make the whole process as organized as possible.
This innovative process is similar to renting a real house, where the tenant has the right to use the house but not the right to market it.
Real Time Response
Unlike other protocols where users need to wait for a block to be generated before receiving transaction confirmation, Rangers Protocol can provide real-time execution results, saving time when dealing with interaction-related issues.
Who are the creators of the Rangers protocol token?
The Rangers Protocol is intended to be an efficient bridge for blockchain assets and public chains to allow their free and unrestricted circulation and further expand the blockchain industry.
Its three founders, with backgrounds in software development, game development and entrepreneurship, converged to establish a platform to bring blockchain technology into mainstream use.
Rangers Protocol Gas (RPG Token)
The cryptocurrency RPG (Rangers Protocol Gas) is the native token of the Ranger Protocol, with a total supply of 21 million pieces, and has versions in ERC20 and BEP20 format.
token design
In the platform's economic system, ecological nodes generate blocks that are divided into proposal and verification nodes. It also supports participation in the operation of the system through an open participation mechanism for registered users.
It is designed from the top down to operate smoothly in a decentralized environment as it allows general network compatible devices, rather than custom professional devices, to become nodes.
The Rangers Protocol also created two principles, called the 'Protocol Principle' and the 'Transparency Principle', designed to ensure that the desired level of productivity on the platform is always maintained.
The Protocol Principle is an economic system that does not rely on time-consuming traditional procedures and coercive measures and instead depends on protocol behavior and financial incentives. Meanwhile, the Transparency Principle is a system that can be centrally designed, but the platform requires users to eliminate the black box if possible.
token allocation
The Rangers Protocol will connect to significant platforms and encourage developers to distribute, develop and operate their applications on the platform.
Developers must buy and wager tokens in order to use the Rangers protocol.
As the platform expands, three main aspects will inevitably increase: the value of the RPG token, the number of token holders, and the number of green nodes.
proposal nodes
The Ranger Protocol requires users to wager 1250 RPG to become a qualified bid node, and tokens wagered as bid nodes will continue to adjust due to improvements in the platform's governance mechanism.
The RPG will not be unlocked during the wagering process to block reward distribution. It will only unlock after the node reward is issued, which would take 10 hours.
Each node can bet once in each block deal cycle and, when distributing RPG to the winning bid nodes, the process will depend on the RPG bet ratio of each node.
During each block generation, the proposal group will receive 35% of the total block rewards, each block production proposal node will receive 10,5% of the total block rewards individually, while all nodes of the proposal group, including the block producers, will share 24,5% of the remaining rewards according to the proportion of participation of the nodes.
Verification Nodes
To qualify as a check node, registered users must wager 250 RPG, and as long as the wager can enter the random pool, awaiting selection as a check node, Ranger Protocol would not implement any restrictions on node enforcement.
As with bid nodes, the RPG cannot be unlocked during the betting process to block the distribution of rewards and can only be unlocked after the node rewards are issued, which will take 10 hours.
And again, each node can bet only once in each blockchain deal cycle, and the RPG deal for the nodes in the rewarded bid will depend on each node's RPG bet ratio.
The verification group will get 14% of the total block reward during each block generation, and all nodes in the verification group will receive a reward according to the node's wagering ratio.
Ranger Protocol Foundation
Ranger Protocol Foundation is a platform for ecosystem building, community maintenance, systems operation and market promotion.
One of his specific responsibilities includes investing in dapp developers based on the Rangers protocol, implementing penalties for unethical activities on the platform, and building an efficient application ecosystem.
It also has the right to initiate voting proposals for platform governance, but the decision on whether or not to approve this proposal is up to the community.
Partners
Conclusion
The Rangers Protocol cryptocurrency is a layer 2 solution primarily applied to NFTs and DApps in the gaming industry. Its core technology is to extend existing EVM versions of Ethereum so that DApps migrate to it without changing the original infrastructure and is fully compatible with Ranger's Relaychain. It also allows you to connect to other blockchains in the future.
The success of tier 2 solutions from recent gaming platforms generates great interest among investors. Layer 2 is the ultimate platform for DApp game developers to extend Metaverse. As the Ethereum blockchain is very slow and resource intensive for gaming activities, it is not necessary. Therefore, the Rangers Protocol properly understood this trend and chose the direction of success.
