The RIF Token is a peer-to-peer distributed database application built upon the Ethereum blockchain platform. Unlike other cryptocurrencies, which rely on “mining”, the RIF Token is completely powered by users. Users are rewarded for contributing to the network by being given RIF tokens in return. These tokens can be traded on the cryptocurrency exchanges and can also be used as collateral for loans. In this way, the RIF Token is a “no-mine” cryptocurrency that has no risk of dilution.
This type of cryptocurrency, unlike “premined” cryptocurrencies, gives users more power over their own assets. These users can decide how to distribute the tokens between themselves, and this decision can lead to an increased level of confidence in the cryptocurrency network. As the community builds up more of a reputation, more people will be attracted to the network, and they will have more confidence in it as well. This is how a cryptocurrency network works: as the network grows in popularity, people begin to use it as a store of value or as a source of income.
As time goes on, a wider variety of cryptocurrencies will be launched. As their value increases, the value of the RIF Token will likely increase as well. In this way, a wider range of users will be attracted to the RIF Token. But in order for this to happen, the “no-mine” characteristic of the RIF Token must be preserved. Otherwise, the network would be incapable of achieving the level of profitability necessary to attract more users and help keep the value of the token up.