Rya is getting attention. Besides the folks flocking to their Telegram group to ask questions about the airdrop (keep your NXT in an account YOU control), and RYA price and exchanges (there is no price, no centralized exchange listing, no ICO, the market will decide, etc.), also more devs have joined the team, and interest in the testnet, project, and its whitepaper is picking up. Good, taking into account that Rya might be run and developed by a talented (anonymous) team right now but that it is also going to be dependent on a decentralized community-run network (remember Nxt?) and participants in the system. For this reason, understanding what the platform is about, reading the whitepaper and visiting their website is so important. Rya is here to make banks obsolete. Not to get a pump on centralized exchanges. How about it.

Website/whitepaper: https://ryacoin.io/

This week a Medium article, "A stablecoin for the apocalypse", discussed RYA's position in the "stable coin" landscape, comparing it to what currently exists. The author wrote:

"...economic autonomy and decentralization are big frickin’ deals. ... Also, questions about scale, security and how these stablecoins address credit, money creation and other features seen in the fiat economy should be considered carefully."

In the eyes of the author, this is what the Rya team has done. He waves goodbye to fiat and "pegs" like USDT, Maker, Truecoin, Tether, et al, as he reaches the conclusion that

"[Rya's] concept is elegant and seems to promise money supply rate changes as offered by fiat, but in a completely decentralized way while being a better store of value than fiat. Also, P2P loans replace the need for institutional loans seen today. Economically speaking, Rya could exist in a vacuum and be perfectly fine. Rya seems to have the potential to provide a secure, divisible and scalable solution that fits the apocalypse-ready template very well."

Rya is based on a clone of Nxt's source code, but its "Proof of Trust" algorithm makes use of 2 tokens - RYA and TRUST.

Read the article

The Rya team states:

“Bitcoin is a great store of value but is volatile due to its fixed supply. Fiat currency is less volatile because regulators impact the price of the currency but we don't want to rely on them. Rya proposes an automatic decentralized money supply solution based on p2p loans amongst other things which stabilizes the price of rya. This is the only way to truly make banks unnecessary.”

Testnet bounty is still OPEN. Join for FREE Rya -> https://docs.google.com/forms/d/e/1FAIpQLSffJrQMg8UWFCpg2FvL1R1AdVy7hiuMv2czSeg2iLsuq1SIsw/viewform

Here is the link to the Rya repo hosted at Github: https://github.com/RyaDevelopers/Rya

ANN | Website | Whitepaper | Twitter | Reddit | Telegram chat

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