Republia - Republia Ecosystem [EXPALAINED] - Norainly

Republia is a large-scale decentralized ecosystem, that includes elements of the countries that are familiar to us in the digital space and operates mechanisms based on blockchain technology. A unique solution for coordinating changes in ecosystem conditions through direct user voting based on Republia blockchain, which, in turn, is based on “we-government” methodology.

Republia ecosystem

The global ecosystem Republia is a set of operating tools based on wellorganized structure, operating under a set of internal rules, that ensures safe and comfortable usage at every stage of operation. Ecosystem is based on the main principles of the operation of blockchain technologies. secure storage of user data (information and resources are protected through integration with Republia blockchain); justice (all disputes are resolved by consensus); transparency (ecosystem users always have access to all the necessary information); full democracy (members of the ecosystem directly affect the life of Republia).

1. SAFE SMARTEST CONTRACT

Republia blockchain is written on functional programming language OCaml that is used in Space and Airplane development where price of error is unbelievably high. Thus it makes impossible to execute smart contracts with bugs and errors that prevents money loss.

2. FASTEST BLOCKCHAIN PROTOCOL IN THE WORLD

Republia blockchain provides the fastest transaction speed in the world with highest scalability. It is possible due to additional Sidechains

3. SELF DEVELOPING NETWORK

And automated protocol update lets to prevent conflicts and Hard Forks inside the system that keeps all the users inside Republia and makes coin more stable and expensive.

Safest smart-contracts

Republia Virtual Machine is implemented using functional programming language Michelson, which supports formal code verification that allows verifying smart contract before it is launched on the network. Thus, due to formal code verification, Republia VM will not execute smart contract in case an error occurs. Moreover, smart contracts created on Republia Smart Contract Platform are Turing complete, which ensures their correctness, because Turing completeness avoids fraud and delays in smart contracts. The smart contract, created on Republia platform, will never get caught in an endless loop, because it operates under the principle of a timestamp, which ensures execution of a digital contract.

Why Republia are using OCaml

1. USE IN AVIATION

Applied in areas where the price of error is unbelievably high. Facebook, Bloomberg are some from the long list who using OCaml.

2. HIGH LEVEL OF SECURITY

Minimizes hacking the code of smart contracts, maintaining formal code verification.

3. WIDESPREAD USE

OCaml is a popular functional programming language, which allows formal verification of individual parts of the protocol. This is an advantage of using OCaml in open source software, because in such systems there are often vulnerabilities that are added by ecosystem participants accidentally or intentionally.

4. ZERO ERROR RATE

Republia mainly focuses on zero error rate in the execution of smart contracts, because, according to research, there are 34 200 vulnerable smart contracts per 1 000 000 Ethereum smart contracts

Self developing network

Republia Ecosystem introduces an improved voting system, with the help of which all changes are implemented through consensus, which entails an automated update of the protocol among users. Thus, Republia Blockchain avoids hard forks. Moreover, Republia Blockchain protocol is divided into three layers (network layer, consensus layer, transaction layer) and layer separation allows to change protocol without hard forks.