XRK-Overview

XRK is a peer-to-peer based token which is used as an incentive and payment model for uploading records and data onto the RecordsKeeper blockchain. XRK tokens are provided to miners as fees for uploading records. XRK tokens are based upon Bitcoin’s original protocol with changes to its underlying codes, therefore creating an effective blockchain token with a different set of ‘out-of-the-box’ features, which makes it a perfect fit for data upload.

Users uploading data onto the RecordsKeeper blockchain have to pay fees in XRK for every transaction. The fees are based on the size of the data and approximately equal 0.1 XRK/KB, at present.

The current value of ETH 0.0002 = 1 XRK (5000 XRK / ETH), exclusive of transaction fees or cost, and the value is subject to change based on supply and demand. 50 million XRK will be mined in total, and their value will continue to increase as more XRK tokens are added through mining rewards, which equal 10 XRK per Block. The miner who confirms the transaction receives the XRK paid in transaction fees.

There are two types of RecordsKeeper blockchain – RecordsKeeper and RecordsKeeper-Test. RecordsKeeper has already been explained in the first paragraph. The RecordsKeeper-Test blockchain is available for testing purposes, which provides Testnet XRK for the community to build and deploy applications within the RecordsKeeper Testnet environment. One can get Testnet XRK through RecordsKeeper faucet and mining.