Most Blockchain projects simply say Quote "we have processed millions of transactions"
That's right .. that's a key achievement but the question is HOW DO USERS KNOW whether those claims are true ? That is the problem!.
The question demands for an answer and the answer is the solution .This is where RAYLS comes in.
Now ..let's break it down
RAYLS through its innovative approach brought in Transparency model and proof of usage framework.But first, let's understand the concept of proof of usage brought by RAYLS .
Proof of Usage by RAYLS is an approach through which it uses to display objective data of ecosystem activities.. "Objective" means that they are measurable.
The actual place where RAYLS publishes these objective ecosystem metrics such as transaction volumes, network usage statistics, fees generated, and token burn information is THE TRANSPARENCY PORTAL .
The aim is to make network activity observable rather than relying solely on claims without proof.
RAYLS does not say .. we have the numbers or we have processed millions of transactions..and add Trust us ..
No
They actually have a portal where u can see and verify facts and figures.You may be wondering why transparency portal is needed at this stage ...
Here is the fact.
For so long .. Blockchain has a problem which includes where projects claims that they have millions of users, massive adoption, high transaction volumes but if u check closely You will find out that most numbers attached to the claims are inflated, statistics can't be verified.
This shouldn't work this way ..
Proof matters and that's why RAYLs transparency portal is the ultimate solution to this problem which are inability of the users to evaluate and verify ecosystem growth, institutions can't get adoption, token holders or users can't even understand the framework and Users may entirely depend on Feeds.
Transparency portal created by RAYLS allows users, validators and beyond to understand the framework, network or ecosystem activity, Revenue generation and Ecosystem usage And Fact remains that with this approach
There is connection between Usage, Revenue and tokenomics.
Here is RAYLS data so far ..this will help you to understand what proof looks like and how Transparency portal presents them to you.
→ $1M+ cumulative revenue generated from Private Chains
→ 4 active Privacy Nodes operated by financial institutions
→ 38M+ $RLS already burned
Every fee generated by Private Chains contributes back to the network:
→ 50% is used to buy back and permanently burn $RLS
→ 50% supports long-term ecosystem growth
https://transparency.rayls.com/
Furthermore,
Let's say for an instance
If Users can utilise private networks, public chain services and applications built on RAYLS .That's practical usage.This brings it down to the ecosystem generating transaction fees and these fees contribute to token Burns according to tokenomics And Then validators gets reward
This becomes a sequence, measurable which makes everything becomes interconnected
Let's take a clear example.Imagine two Restaurants (Resta X and Resta Y)
Resta X claims they have mass number of customers and they are selling off big quantity of food which means they are successful .. without any tangible customer numbers, Revenue figures and number of sales . While Resta Y claims the same thing with an accurate figures and numbers which indicates daily customers , number of customers, monthly revenues and growth statistics..
Which one of them seems to be more trustworthy.
Resta Y right
That's what we are saying here
Transparency portal brought by RAYLS helps users to measure ecosystem activities, Revenue generation and growth with an ease .
No more claims without a proof
Transparency becomes meaningful when people can observe how a network is being used.
@Rayls