IonChain ICO: A High-Capacity IonChain Transactional System

With the increase of decentralized blockchains such as Ethereum and Bitcoin comes an increase in other distributed ledger technologies. With the volume of electronic transactions growing at a global scale, it is clear that there is a need to increase the number of blockchain based networks to keep up with demand.

IonChain offers an innovative blockchain which meets the global standard and provides a secure, scalable and decentralized technology which guarantees security through collaborative and permissionless mining.

Security of transactions are ensured by our theoretic framework that means over 50% of total hash power is sent to the base chain which acts to prevent any double spending.

Cross transactions can also be issued on the platform and confirmed within minutes, with the number of cross transactions increasing the response time. IonChain will operate a smart contract network which will be backed up by the Ethereum Virtual Machine.

IonChain goals to remedy an extensive variety of the present day troubles of IoT networks in terms of data safety, records circulation, information sharing and facts transactions, as a result improving the efficiency of the entire IoT ecosystem.

IonChain introduces the idea of “One tool, One Coin, One Code” which helps the mixing of IoT devices with the IonChain blockchain network. With using aspect computing generation, it allows every tool at the IoT network to be utilized as a mining machine, making every IoT device that makes use of IonChain subject to mining rewards.

Because of the use of blockchain era, the statistics source will usually be reliable and verifiable at the IonChain network. Moreover, the price of the records is quantified and data transfers are fast and secured. This makes it simpler for IoT requirements to emerge, unlocks a plethora of recent IoT application scenarios and boosts the whole industry to go into the next stage of development.

HOW IT WORKS

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. 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.IonChain has created a divide and conquer concept which separates functions into two distinct layers, which acts to enhance the scalability whilst maintaining the appropriate security levels.

Utilizing a layer of elastic sharding in the blockchain, smaller shards will be listed within the layers and as the number of shards increase the ability to process them concurrently, thereby increasing systems capacity.The network contains a base chain that will confirm all sharded blockchain blocks but will not process any transactions.

It will also have a level of difficulty which will preclude anyone from reverting a transaction since it would not be economically efficient to do. The platform is designed to be able to support additional shards which will be able to independently process subsets of transactions.

Since the IonChain network is more decentralized than other blockchain systems the level of security is also much higher, with 50% of the hash power allocation held on the base chain. Sharding technology allows the ability to increase capacity depending on how many transactions need to be processed, optimizing time with ease.