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ReapChain implements a more secure and transparent Blockchain-based IoT ecosystem by blockchainizing the entire end-to-end section of the IoT industry

Easy, fast and safe ReapChain creates new values that were never existing in the IoT world

ReapChain becomes the pride of IoT Blockchain and dreams of a perfect Blockchain world.

WHITEPAPER

The objective of this Whitepaper is to present a brief summary of the business model, technology, and value proposition of the ReapChain.

ABOUT ReapChain

Introducing the innovation solution platform based on Blockchain technology

ReapChain was created to solve the problems of the existing IoT Blockchain.

Based on the Shell-Core structure, which combines public and private Blockchains, and the two-way consensus algorithm (PoDC), we have overcome the three problems of the existing Blockchain: “scalability, security, and decentralization”.

Also, by giving the PID of an object through the Reap SDK, it is possible to secure clean data by improving security through mutual verification between devices and preventing the forgery of data.

ReapChain is creating a new IoT Blockchain world with technology that has both complete security and transparency.

ReapChain TECHNOLOGY

The Shell-Core structure solves the existing Blockchain's trilema, realizing the effective convergence of the Blockchain and the IoT industry.

The new hybrid Blockchain is implemented through the shell-core structure and PoDC consensus algorithm, in which public and private Blockchains are perfectly fused to solve the existing Blockchain's trilemma problem.

The Shell-Core Structure has a double-layered chain, and it is designed as a double structure that forms a fake ledger cell block by ReapMiddleChain on the outside, and a definitive block of the real ledger concept inside.

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The Shell-Core Structure processes the transaction first with the concept of a fake ledger by placing a high-speed private Blockchain on the outskirts and the public Blockchain with strong security and decentralization is a new structure of the Blockchain that is placed inside and post-processed with the concept of a real ledger.

Individual IoT devices acquire a private key, which is a unique ID, for each device through the Reap SDK to prevent the forgery of data.

An Individual IoT device obtains a private key, which is a unique ID for Individual devices, through the Reap SDK to prevent hacking or illegal access.

When a transaction occurs on an IoT device with the Reap SDK applied, it is only accessible to authorized personnel or devices, and it is possible to check whether data is forged or tampered with. This prevents malfunction or side effects of the management system due to incorrect data transmission.

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Reap SDK can support project modules or settings developed based on the existing Micro Controller Unit (MCU). Reap SDK allows you to reuse existing native SDK code to have interoperability between codes and minimize maintenance and management costs. In addition, a unique ID (private key) is created for each IoT device and stored in the internal non-volatile memory.

When a data transaction occurs, individual hash devices become small nodes of the ReapChain by receiving and storing the final hash information generated in the ReapMiddleChain. This allows you to verify device reliability.

BUSINESS

ReapChain BaaS

ReapChain is a Blockchain as a service (Blockchain as a Service), and consists of Reap SDK for connecting and authenticating devices, ReapMiddleChain and ReapChain for data processing and storage, and Reap Platform for operating and managing all services.

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ADVANTAGE
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Reap SDK

Prevention of data forgery through object PID.

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ReapMiddleChain

Providing services specialized for distributed processing and security of large data.

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Reap HUT

Provides reliable and flexible private temporary data storage.

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Reap Platform

Easy and fast IoT-only system construction.

01Distribution and Logistics

IoT can be applied to logistics operations to increase supply chain visibility and efficiency, and to prevent disruptions in a smooth delivery.

ReapChain collects, analyzes, and shares information from freight shipments, pick-ups, and transportation to the right delivery to consumers, optimizing reliability, efficiency, and processing speed to achieve innovation in the distribution and logistics industries.

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step 1

Product production and data (basic information) input based on IoT sensor applied with Reap SDK

step 2

Continuously transmit and verify product status data through sensors

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Transmission and verification of additional data such as location information and record of delivery and receipt in the entire distribution process

step 4

Receive and confirm reliable data on products purchased by end consumers

02Energy

The energy sector is pursuing domestic automation and energy management efficiency by integrating advanced information and communication technology (ICT) such as IoT.

The energy management system utilizing ReapChain BaaS can improve the above problems and build an efficient system.

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step 1

Aggregate various data and power generated from smart home devices with Reap SDK through smart meters

step 2

Continuous transmission and verification of device status and power data through smart home device control devices

step 3

Through the Reap Platform, the electricity producer checks the amount of electricity required in each home, and the service provider checks the device status data to improve service quality

step 4

Receiving reliable data and checking information on individual devices in the smart home at home

Business Model

ReapChain's business is a platform and DApp business composed of various IoT-based business fields.

ⅰ) Combination of each business area through platform activation

ⅱ) Establishing a reasonable fee and incentive system

ⅲ) Establish a business model by building a competitive infrastructure through token economy with competitiveness and profitability.

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Revenue structure of ReapChain
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License cost

ReapChain BaaS Service fee

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Reap HUT usage fee

Reap HUT service fee

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Transaction Fee

Fees for data transfer

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Data purchase information

Required data purchase cost

Ecosystem

Participants in the ReapChain ecosystem will be a member of the IoT-based 4th industrial ecosystem and will contribute to the development of the IoT industry while gaining economic benefits.

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  • Device manufacturers Companies that provide services including hardware resources provided by IoT devices such as sensors and drivers, and operating systems (OS) and software that connect these hardware resources.
  • IoT operators services that facilitate the creation and execution of various application services, application implementation and network service providers that support the deployment of IoT-based application software
  • Data analysis companies companies that process, analyze and utilize data obtained from various devices
  • IoT users individuals or subjects who use IoT services through applications
  • ReapChain BaaS An integrated platform that supports various standards / non-standards as a connection platform between devices and devices and services and application platforms.

Benefit

ReapChain aims to be a platform-sharing economic business model that anyone can easily use by providing economic incentives for Blockchain participants to voluntarily activate ReapChain. Through this, we intend to form a virtuous cycle structure in which IoT-based infrastructure and data are enriched and the IoT industry is activated by creating a structure that participates in the ReapChain ecosystem organically and is rewarded accordingly.

REAP, which serves as a fuel for the ReapChain ecosystem, will pay transaction fees as rewards and incentives to users who hold a certain stake or maintain the ReapChain network through transaction verification and block creation. ReapChain also rewards REAP holders, standing committees, steering committees and candidates to revitalize the ecosystem.

Reward is the total commission income, and is paid when the commission accumulation amount of 1 million REAP is satisfied, and if the reserve exceeds the upper limit at the time of distribution, it is summed up.

The allocation ratio of total reserves is 70% for all REAP holders, 20% for the Steering Committee and Candidates, and 10% for the Standing Committee, and duplicate payments are permitted.

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Additional Incentive 10%

Apart from the reward for total commission income, 10% of the total amount of REAP issued is rewarded for participation in the ecosystem, and is provision 1% annually over 10 years. When the 1.2 millionth block is created, it is paid to all REAP holders in proportion to individual REAP holdings.

TOKEN ECONOMY

Reap Token, a token issued by ReapChain, is a new mainnet project to solve the problems of the existing Blockchain's trilemma, block creation time and transaction processing speed, and to efficiently integrate with IoT.

It plans to sell 14.7 billion of the total issuance of 4.9 billion or 30%, and the hard cap is $ 18 million.

Focusing on corporate/institutional investment, it will be held until the end of June 2020, and the private sale will be held until the end of May 2020.

After the completion of the Pre-Sale in 3Q 2020 (scheduled), the tokens will be distributed to participants at the same time before the initial listing (notice of distribution date). Check out the white paper for more details.

ROAD MAP

Follow the progress and the milestones of our scaling business.

2019.1Q

  • ReapChain Mainnet planning and design

2019.2Q

  • ReapChain Mainnet (Ver 0.1) development

2019.3Q

  • ReapMiddleChain (Ver 0.1) Design and Development

2019.4Q

  • Reap Platform & Reap SDK (Ver 0.1) design and development
  • Smart Contract establishment and Reap Wallet (Ver 0.1) development

2020.1Q

  • ReapChain MVP (Ver 0.8) Verification Test
  • ReapMiddleChain MVP (Ver 0.8) Verification Test
  • Whitepaper Ver 0.8 released
  • Seed Sale

2020.2Q

  • ReapChain Alpha (Ver 1.0) development and verification test
  • ReapMiddleChain Alpha (Ver 1.0) development and verification test
  • Reap Platform & Reap SDK Alpha (Ver 1.0) launch and verification test
  • ReapChain Token Sale - Private Sale 1st
  • ReapChain Token Sale - Private Sale 2nd

2020.3Q

  • Whitepaper Ver 0.9 released
  • Alpha Integration Test
  • ReapChain Beta (Ver 2.0) development and verification test
  • ReapMiddleChain Beta (Ver 2.0) development and verification test
  • Reap Platform & SDK Beta (Ver 2.0) launch and verification test
  • Reap Wallet (Ver 1.0) Open
  • Pre-Sale and exchange listing
  • Token Generation (TGE) and Distribution
  • MCU based object PID development
  • Signed MOU with IoT MCU developer ITM

2020.4Q

  • Whitepaper Ver 1.0 released
  • Beta Integration Test
  • ReapChain BaaS based service infrastructure construction
  • Microservice based Reap Platform service infrastructure construction
  • Secure BM to spread Reap Platform - Sign MOU with IoT device company
  • Secure BM to spread Reap Platform - Sign MOU with IoT platform service provider

2021.1Q

  • Commercialization service environment establishment and operation stabilization

2021.2Q

  • Service infrastructure scalability establishment

2021.3Q

  • Mainnet officially opened

TEAM

ReapChain Team members aims to bring our valuable technologies of ReapChain to the public, through their extensive experience in the field.

MANAGEMENT

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WOOJUNG KIM

CEO
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JAKE LEE

co-CEO
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KHAN KIM

CSO
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SUNGJIN KIM

CTO
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JAY YOO

CMO

DEVELOPMENT & TEAM

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SUHO KWON

PM [ReapChain]
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HURST CHOI

PL, Blockchain Engineer
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JONGJIN PARK

PL, Blockchain Engineer
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JOOYEON JUNG

PL, Blockchain Engineer
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JEONGHYUN KIM

PL, Blockchain Engineer
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JAESUNG LEE

Blockchain Engineer
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JAEHYUK KWON

Blockchain Engineer
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NAMHO KIM

Blockchain Engineer
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MARTIN BHOJRAJ BHATTA

Blockchain Engineer
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YOUNGMIN SEO

Blockchain Engineer
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HYUNHAN NOH

Blockchain Engineer
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SUNGSIK PARK

Blockchain Engineer
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ILSEOK IM

Business planning Manager

MIDDLEWARE

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MASON SON

PM
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DANIEL KWON

Middlechain Engineer
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JANGGWAN JO

Middlechain Engineer
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SEOKBAE PARK

Middlechain engineer
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AIDEN KIM

Middlechain Engineer
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YONGHWAN HEO

Middlechain Engineer
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HOJUNG KIM

Middlechain Engineer

ADVISORS

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SEUNGHUN HAN

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CHULHO LEE

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TAEHONG KANG

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HYUKJUN KWON

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CHEOLHWAN KIM

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HYUNWOO YI

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DAVID LEE

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JONGWON KIM

PARTNERS

KBIPA
SCH IACF
SYNOSIA
KOUNOSoft
MORROWBOGI
OLIVE TECH
Reap Pay
LN
coinvest
YL solution
bi square lab
the check
fintech lab
robo Pia

ADVISORY GROUP

barun
Oh Kims
DECENTRE
HAHM SHOUT
ReBlock

NEWS

FAQ

Q What is ReapChain?

ReapChain is a hybrid Blockchain to solve the trilemma problems of existing Blockchain and to converge the Blockchain and IoT industry.

Q What advantages does ReapChain have over other Blockchain projects?

The Shell-Core structure is a private Blockchain technology with high security and relatively fast speed, which is first processed in time, and the public Blockchain technology element with strong transparency, openness, and decentralization is inside. It is a hybrid Blockchain that is placed in and post-processed in time. ReapChain solves the trilemma problem through this shell-core structure.

Q How did ReapChain solve the problems of the existing IoT market?

The problems of the existing IoT market are the security problems due to the lack of authentication of IoT devices and the processing and speed reduction of large data due to the centralized processing method. ReapChain increases authentication and security of individual devices through DID of IoT devices utilizing Reap SDK, and realizes large-capacity data processing and speed improvement through ReapChain’s unique Shell-Core structure.

Q When does the ReapChain mainnet start?

After moving from the testnet to the mainnet in the first quarter of 2021, we will officially open the mainnet in the third quarter of 2021.

Q What is ReapChain's technology roadmap schedule?

ReapChain ​​plans to release a testnet in the second quarter of 2020, plans to launch a DApp Reap Platform in the third quarter of 2020, and finally moves from the testnet to the mainnet in the first quarter of 2021. The mainnet will be officially opened in the third quarter of 2021.

Q What is ReapChain's future plan?

As data is expected to arrive in the new 'Data Economy' era, which serves as a catalyst for the development of all industries and the creation of new values, ReapChain ​​utilizes the infrastructure of ReapChain ​​to collect and store numerous IoT data. Based on the data, the data is shared with other industrial platforms such as medicine and finance, and data is shared with each other. Based on this open data-sharing platform, high-quality data distribution among all industries is promoted. We want to realize a Blockchain-based sharing economy ecosystem by acting as a hub for a platform ecosystem where we can register, search, and trade easily and quickly.

Q When will Reap tokens be listed?

It will be listed in 3Q 2020 after the end of pre-sale.

Q How much does Reap tokens sell?

The price of each token is 0.03 USD.

Q What is the sales period of Reap tokens?

1. Seed Sale : 2020.01.15 2. 1st Private : 2020.05.15 ~ 2020.06.14 3. 2nd Private : 2020.06.20 ~ 2020.07.05 4. Pre-Sale : 2020.07.22 5. Listing : 2020.3Q

Q Where and how to purchase Reap tokens?

You can purchase through the 1st, 2nd private sale and Pre-Sale. Details can be found at www.reapchain.com

Q In what currency can I buy tokens?

You can purchase through USDT, ETH.

Q What about unsold tokens?

For unsold tokens, they will be sold after listing.

Q What is different about each Reap token sale round? (Each bonus (seed sale / 1,2 private / Pre-Sale))

The sooner you participate, the higher the bonus rate may be applied. The supply of tokens is limited, and tokens can be obtained on a first-come, first-served basis. Token sale will be held as follows, and bonus rate will be announced separately at the time of sale.

Q What is the ReapChain ecosystem?

ReapChain BaaS consists of Reap SDK, the core of IoT devices, ReapChain and ReapMiddleChain, and a Reap Platform that supports them. Ecosystem members of ReapChain based on this infrastructure are IoT device manufacturers that can utilize and introduce ReapChain BaaS, and individuals/enterprises/government and public institutions to build IoT-based systems. It consists of operators and companies for processing, analyzing, and utilizing IoT-based data.

Q What is the role of the Reap token?

Reap, which serves as a fuel for the ReapChain ecosystem, is paid as transaction fees, rewards, and incentives to users who hold a certain stake or maintain the ReapChain network through transaction verification and block creation. In addition, ReapChain provides rewards to Reap holders, standing committees, steering committees, and candidates to revitalize the ecosystem.

Q What is ReapChain's specific revenue distribution system?

Rewards and incentives are paid for transaction fees to users who maintain the ReapChain network. The reward is the total commission income and is paid when the commission accrual of 1 million Reap is met, and if the accrual exceeds the upper limit at the time of distribution, it is summed up. The allocation ratio of total reserves is 70% for all REAP holders, 20% for the Steering Committee and Candidates, and 10% for the Standing Committee and duplicate payments are permitted. Apart from the reward for the total commission income as an additional incentive (10%), 10% of the total amount of REAP issued is a reward for ecosystem participation and provision 1% annually over 10 years. When the 1.2 millionth block is created, it is paid to all REAP holders in proportion to individual REAP holdings. These REAP holders contribute to the maintenance of the ReapChain network through transaction verification and block generation and receive REAPs as compensation.

Q Where is ReapChain used?

Users, manufacturers, and related service providers in the IoT industry are both providers and consumers in the ReapChain ecosystem. The Reap SDK is a software service (SaaS, Software as a Service), and when it is provided to IoT device companies, a license fee is incurred, and the Reap Platform is a service operation platform and a data store platform, which incurs the cost of data transaction. In addition, all IoT-based users and operators will incur a fee for data transactions by default and will pay a certain fee for the use of Reap HUT, private temporary storage.

Q What is your business model? Is there a profit-generating structure?

There are 4 basic profit models according to the Business Model. 1. Initial license fee to introduce ReapChain BaaS 2. Data transaction fees 3. Reap HUT fee 4. Data transactions It is the cost according to the above.

Q Can I get economic incentives just by participating in the Blockchain ecosystem?

Apart from the reward for the total commission income, 10% of the total amount of Reap issued is a reward for ecosystem participation, and provision 1% annually over 10 years. When the 1.2 millionth block is created, it is paid to all Reap holders in proportion to individual Reap holdings.

Q Are rewards and incentives different systems?

Rewards allocate and pay the total fees of ReapChain transactions, and incentives are rewards for participation in the ecosystem, apart from rewards, in proportion to the total amount of Reap held to all Reap holders.

Q What is ReapChain's consensus algorithm?

ReapChain is a Proof of Double Committee (PoDC) consensus algorithm that improves DPoS (Proof of Delegate) and Byzantine Problem (BFT). ReapChain combines 14 standing committee nodes and 15 steering committee nodes, and a total of 29 nodes participate in the consensus process for block creation. The proportion of nodes participating in the Steering Committee node is always maintained at 51% or higher, and the Steering Committee node is randomly selected as a strong quantum random number among general nodes. It operates transparently.

Q How does the PoDC consensus algorithm work?

The block generation cycle of ReapChain is 2 seconds, and a coordinator is selected from among standing executives to reach an agreement quickly. The remaining 28 nodes, centered on the selected coordinator, reach consensus with minimal network traffic in the TCP / IP communication state during the consensus process. These coordinators eventually become block producers and can generate blocks, and if blocks are not created within 2 seconds, block generation of the cycle is skipped.

Q When using ReapChain, why can it be processed at high speed?

ReapChain aims at 2,500 TPS and ReapMiddleChain aims at 100,000 TPS. The block generation cycle of ReapChain is 2 seconds, and a coordinator is selected from among standing executives to reach consensus through minimal network traffic. ReapMiddleChain maximizes speed by processing time-series data generated in short intervals of milliseconds (1/100 second) through cell block processing.

Q How does ReapChain work?

ReapChain is a hybrid Blockchain that combines public and private Blockchain that has a Shell-Core structure. ReapChain consists of 14 always-on standing committee nodes and 15 operating committee nodes (15 nodes selected using secure quantum random numbers out of the typical nodes), with a total of 29 nodes participating in the block creation agreement process.

Q What is the core technology of ReapChain?

Integrates with IoT systems based on Shell-Core structure and ReapMiddleChain, implements high-speed processing of large-capacity data and improves authentication and data reliability between individual devices through ID (Invisible ID) of MCU-based IoT devices using Reap SDK.

Q What are the advantages of ReapChain's dual Blockchain structure?

The Shell-Core structure is a private Blockchain technology with strong security and relatively high speed, which is first processed in time, and the public Blockchain technology element with strong transparency, openness, and decentralization is placed inside. It is a hybrid Blockchain that is post-processed in time. ReapChain solves the trilemma problem through this shell-core structure.

Q Does ReapChain have patent technology related to Blockchain?

ReapChain has the following list of patents related to Blockchain mainnet construction. 1. How to provide a consensus service for the bilateral system using Blockchain-based quantum random 2. A method of providing a high-speed transaction processing service executed in a middleware layer based on a dual Blockchain structure 3. Blockchain-based cryptocurrency revenue distribution system and method have.

Q What is the function and purpose of each node in ReapChain?

1. Standing Committee Node : This node is always operated in ReapChain and participates in the consensus process and has the authority to create blocks. 2. General Node : A node that anyone can install, and can participate selectively in the transaction verification process by a random selection method using quantum random numbers. The nodes participating in transaction verification are defined as the Steering Committee and Validator. 3. Governance Node : This is a special node that includes fees, dividend policy, random general node selection policy, and all types of node management policy functions. 4. Q-Manager : Generates and manages quantum random numbers, and uses the node information provided by governance to support the process of selecting candidate groups for coordinator and steering committee of quantum random numbers.

Q What does the Governance Node do?

It is a special node that includes fees, dividend policy, random general node selection policy, and all kinds of node management policy functions.

Q How is ReapChain's coordinator selected?

The block generation cycle of ReapChain is 2 seconds, and a coordinator is selected from among standing executives to reach an agreement quickly. Quantum random numbers are used to fairly determine the coordination of the standing committee. Q-manager provides a coordinator using a quantum random number, but it's unknown from the Q-manager that generated the quantum random number which node is the actual coordinator.

Q What information is stored on the Blockchain?

All data generated in the IoT industry to which ReapChain BaaS is applied can be stored in ReapChain. For example, in the distribution and logistics industry, information related to products, such as the origin of the product and producers, is stored, and inventory information or location information generated during the distribution process are also included.