Wigwam is the best RARI blockchain crypto wallet

 RARI blockchain review

The RARI Chain is a Layer 3 EVM-equivalent blockchain powered by Arbitrum Orbit. The chain introduced a unique feature with the royalties being integrated at the node level, offering NFT creators on-chain NFT royalties. This feature allows creators to set fees for both collections and individual NFTs, enabling them to collect fees from every transaction. This feature is not limited as RARI allows NFTs minted elsewhere to have their royalties set on its chain with the help of ERC-2981 compliant or associated marketplaces, empowering creators regardless of the NFT’s origin. 

Origins and Vision 

The RARI Chain was introduced by the RARI Foundation, a non-profit organization dedicated to promoting the NFT ecosystem and the organization behind the NFT marketplace “Rarible”. The Foundation envisioned a blockchain that is both NFT-specific and creator-focused.  

The RARI chain’s testnet was launched on 30 November 2023, starting a new era for creators and the digital art community, offering to empower the creators to control their livelihoods and secure rightful royalties for their art. 

The RARI chain mainnet was launched on 24 of January, 2024.

What consensus algorithm does RARI blockchain Use

The RARI chain utilizes a Proof-of-Stake (PoS) consensus mechanism powered by Arbitrum Orbit. Arbitrum Orbit is a permissionless and customizable blockchain solution that empowers developers to launch dedicated blockchains. These Orbit chains can settle transactions on Ethereum itself or to any layer-2 solution like Arbitrum One or Arbitrum Nova. This setup allows the RARI Chain to work as an Ethereum-compatible Layer 3 blockchain utilizing PoS and letting validators participate in the network's operations based on the amount of coins they have staked as collateral. 

How RARI blockchain technically solved problems with scalability, decentralization, and speed

RARI chain leverages the Arbitrum Orbit, where the transactions can be settled on Ethereum itself or to any Layer 2 solution like Arbitrum One or Arbitrum Nova, based on rollup and AnyTrust technology. This unique setup allows the RARI Chain to process transactions at a much higher rate than traditional Layer 1 solutions, improving the scalability. 

The RARI chain also benefits from Arbitrum Nitro TechStack as it processes the transactions in two phases, by organizing them in sequence for soft and hard finality, further enhancing scalability. 

Arbitrum Orbit also helps in speed as it offers elastic block times, where when transaction activities increase, it allows for fast block production with a 0.25-second block time. Ensuring that the RARI Chain handles high transaction volumes efficiently, without compromising on speed, and provides a super-fast user experience.

The RARI Chain utilizes its consensus mechanism PoS, for decentralization as the consensus requires validators to stake their tokens as collateral and prevent malicious behavior from validators. 

Who are the main players in the RARI blockchain

Validators are the key players in the RARI Blockchain as they participate in the PoS consensus by staking a certain amount of tokens as collateral. 

DeFi ecosystem on RARI blockchain 

The RARI blockchain is built on Arbitrum Orbit and utilizes Arbitrum Nitro Tech Stack which offers scalability, efficiency, and customization for decentralized applications. “Rari Capital” is one of the popular Decentralized Finance projects on the RARI Chain. 

NFTs marketplaces on RARI blockchain

The RARI chain’s innovative approach in empowering NFT creators with the chain being built with Caldera offers a high-performance infrastructure layer and allows creators to earn royalties even when their work is traded on other blockchains. Additionally, minting on the RARI Chain is gasless, combining all these benefits the chain has attracted many creators to mint and sell their work on its mainnet.

The chain’s 0.25-second block time, ability to process 200 and 500 transactions per second (TPS),  affordable gas fees, cross-chain NFT transferability, and on-chain fiat payments have attracted many collectors to buy and collect NFTs in its ecosystem. By doing all this, it has managed to open up the NFT market to a wider range of users, allowing for various use cases and enabling more people to join in and gain from the NFT economy.

“Rarible”, “Rarible X”, and “Rainbow” are some of the most famous NFT Marketplaces in RARI Chain’s ecosystem.

Tokenomics and gas usage on RARI blockchain

RARI Chain utilizes RARI token for governance and users can opt to pay gas fees in ETH, USDC, or US Dollars using a credit card.

Conclusion

The RARI Chain has created a fair ecosystem for creators in the digital realm. The chain has managed to make NFT markets more inclusive and vibrant providing a scalable, efficient, and secure platform realizing RARI Foundation’s vision.