Main takeaway is that it is attempting to build a solid BSHA3 blockchain - no premine and no developer Fee
Does anyone have any insight into this one or anything that is a RED flag please share.
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Ticker $REDB
Name: RedBlock
Listing Date: 2023-11-07T17:20:45.463Z
Network: RedBlock Main Chain
Is Token: No
USD Value: $139.228677851896
Circulation: 914.22
Market Cap: $127,285
Website: https://www.redblockcoin.com/
Explorer: http://explorer.redblockcoin.com/
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Some points:
* is a fork of the first SHA3-256 blockchain BSHA3.
* shares the same genesis block
* RedBlock forks at block 1 to create a completely new blockchain
* max supply of only 10,515 coins
* RedBlock does not have a premine ( according to the website )
* will never have a developer fee
From the site:
The SHA3-256 (sha3d) algorithm, marked a significant advancement in cryptographic security and efficiency. RedBlock recognizes the accomplishments of this and seeks to build upon this foundation by addressing areas of improvement and incorporating new innovations.
Our plan is to develop a strong, robust, and useful blockchain. Fancy websites and false promises are not what we will be about. As we grow, we look forward to community involvement in developing our look and feel.
Chart looks good to me
BSHA3
BSHA3 is a distributed ledger much like its predecessors. It offers a decentralized means of transparent exchange, a problem perfected by Bitcoin and its Bitcoin Core implementation.
This is the first blockchain ever to use sha3d, a double hash function analogous to Bitcoin's sha256d. Cryptographers today believe that sha256 is sound and secure. But, if sha3 is also indeed secure, it is valuable to have a chain driven by it instead.
SHA256 is included in many parts of Bitcoin, from address creation to transaction id calculation and more. These were all worth changing to SHA3-256. Two instances are omitted - the merkle tree reduction step, and the Tor implementation. Interestingly, the random oracle model expressed by these hash functions made the algorithm swap both sound and simple.
Aside from this difference, the main goals of this chain are parity with the intentional, good parts of Bitcoin, and omission of its historical errors. BIPs are also carried over in general; any differences are listed in a working document named BIPMAD - Bitcoin Improvement Proposal Modifications and Deletions.