RaiBlocks and the Block Lattice
Colin LeMahieu, the creator of RaiBlocks, went with a very different approach. In the RaiBlocks whitepaper he outlined the concept of a “block lattice”, where each account has it’s own blockchain and each “block” contains just one transaction. The global set of accounts is referred to as the Ledger.
When you want to send RaiBlocks to another person, two transactions are required – a send transaction that deducts from your balance and a receive transaction, initiated by the recipient, that adds to their balance.
The RaiBlocks Block Lattice.
Every transaction creates Send and Receive blocks.
Sending and Receiving are asynchronous, meaning the two actions don’t have to happen in immediate sequence. If the recipient’s wallet is offline and can’t immediately create and sign the recieve block, sending to them will create a transaction that will remain nsettled until the recipient comes online and creates the corresponding receive block, which will settle the transaction.
Consensus without Mining
Since each RaiBlocks account maintains it’s own blockchain, and only the owner of the account can add to their blockchain, there’s no need for a miner to organize and verify transactions.
Since transactions in RaiBlocks don’t have to reference previous transactions to prove they’re the valid owner of the currency being sent, a double spend in RaiBlocks has a different meaning than it does in Bitcoin. Each send transaction has to reference the owner’s previous block, so a double spend would only occur if someone tried to reference the same previous block in two seperate send transactions.
If this occurs, the RaiBlocks network votes on which one is correct. Every RaiBlocks account, when created, selects a representative node that acts as its voting proxy. These represenative nodes are expected to be always online and controlled by a trusted individual. The weight of the representative’s vote is weighed by how many RaiBlocks have been linked to it. The more RaiBlocks it represents, the more its vote is wroth.
Souce – https://www.bitcoinbeginner.com/blog/what-is-raiblocks/