Introduction
Currently, the blockchain technology has moved to ‘proof of stake’ which is a step up from other currently ran but longer held technologies which run ‘proof of work’. A benefit to the new system is that there is less hash power needed and allows for block rewards to be assigned to token holders proportionately. This acts to significantly reduce the energy needed to mine, which makes it more economically efficient.
This type of innovation building on top of the last generation has allowed for ideas such as IonChain to not only come to fruition but retain a level of dominance in the industry due to being early movers in an industry which is still seeing exponential growth. The fact that major blockchains have a present problem in handling the high volume of transactions that they are seeing is proof of the need for more platforms to be created.
http://ionchain.io
IonChain Techonlogy
The principles of IonChain’s design including increasing scalability but at the same time making sure that decentralization and security are paramount. Creating cross shared transactions seamlessly to give user quality of experience (QoE) within an ecosystem that is incentive driven is key to IonChain, being able to support different platforms and providing users with an easy to use account.
Our design will allow for scalability to be in line across the requirements of maintaining high security with a good level of decentralization.This allows for a confidence that any one user will not try to attack the system because it would be costly and economically inefficient to do so through fork mining. Of the two aspects, the confirmation would be the most computationally intensive of the tasks.
Features of IonChain Networks
An important core feature of the IonChain network is that it has been designed from the outset with scalability in mind.
Horizontal Scalability – The network runs each node as a super full node which allows the same level of security against malicious attacks as traditional blockchains.
The network is easy to use, safe, and allows for public participation with the ability to link weak miners together.
This is the trully of the features.
Sharding
Sharding is the partitioning of data from a large database into smaller databases. This is the most common way in which centralized systems reach their scalability needs. For example, Ethereum supports cross-shard transactions and has been noted as integrating sharding for their scalability needs. One complication which arises for existing blockchains is the ability to integrate sharding if it was not planned for at the outset. Challenges that surround sharding include cross sharding transactions, scalability issues and security issues such as single shard takeovers. Since the user’s account would need to have multiple accounts to keep up with the sharding for the purpose of completing a transaction.
Scalability
This type of network requires at least two transactions – one to complete the payment channel and one to destroy it. The lightning network is not good for use in all purposes, being made for a group of users to create repeated transactions between them. A random user trying to reach a sporadic target would be ineffective in a lightning network. Lightning channels will also track their transactions which creates a transparency concern, since they are tracked in the channels instead of the main blockchain. Third party sites such as PayPal are often required as well, with these type of off-chain solutions relying on such help. The number of centralized payment methods are at an alltime high, which creates uncertainty as to whether adding more would be helpful.
Decentralization
The ability to decentralize trading and storage creates an ability to reduce necessary expenses which allows normal people to be able to leverage the technology the same as a large company would. It also gives the blockchain the security which it is known for. It is being reconsidered from a practical perspective however, with many mining pools forming for a POW based blockchain which allows even the weakest miner to collect a proportional share of block reward in the same timely manner as larger miners, instead of waiting to collect block rewards. This type of mining people helps centralization which in turn creates a risk to the decentralized POW blockchain.
IonChain Token ( IONC Token )
Token name: ionchain token
Code: IONC
Foundation: Ethereum -> ionchain
Total supply: 1 000 000 000
Softcap: NO SOFTCAP
Hardcap: 1600 ETH
Payment accepted: ETH
Price: 1 ETH = 125 000 IONC
Minimum investment: 0.1 ETH
Maximum investment: 1.6 ETH
Maximum number of participants: 1000 (randomly selected)
Country: Finland
Whitelist / KYC: Yes
Restricted areas: United States, China, Singapore
Whitelisting: 27.06.2018 - 04.07.2018
Public sale: 07.07.2018 - 14.07.2018 | Price: 1 ETH = 125 000 IONC
IONC Token Distribution
*Bounty and airdrop - 5%
*Private sale (lockup to 1 year) - 35%
*Mining,Future community - 30%
*Public Sale - 20%
*Team (lockup to 1 year) - 10%
IonChain Roadmap
March 2018 : Starting from the development of Ion Chain.
May 2018 : Token Distribution.
June 2018 : Development
August 2018 : Team expansion
October 2018 : Testnet 0.1.
December 2018 : Smart Contract 0.1.
January 2019 : Testnet 1.0 and 1.0n Smart Contract.
May 2019 : Further Team Expansion.
June 2019 : Company / legal establishment.
Octorber 2019 : Ion Chain Mainnet 1.0.
December 2019 : Ion Chain Core 1.0
For more information you can visit, that IonChain Link's here :
Website: http://ionchain.io/
Bitcointalk: https://bitcointalk.org/index.php?topic=3641957.0
Whitepaper : http://ionchain.io/whitepaper.pdf
Facebook : https://www.facebook.com/chainion/
Twitter : https://twitter.com/ion_chain
Reddit : https://www.reddit.com/user/ionchain/
Telegram : https://t.me/joinchat/Iw9TNUWZmVt_8CAuW_dc9Q
Bounty Thread : https://bitcointalk.org/index.php?topic=4547460.0
Created by:
Bitcointalk username : sprewel
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile
Ethereum Wallet Address : 0x72eBcC7c73Ae55dCc6911DfcCBEB94E21314a3b0
