Hello my dear readers, today I want to tell you about the wonderful project IceChain and its advantages!
About the project
Blockchain is the technology used primarily to verify transactions within digital currencies, although it is possible to scan, encode, and insert virtually any document into Blockchain. This creates an indelible record that can not be changed.In order to reward the miners for the work done, each mining block comes with a reward, or prize, in bitcoins. This award is given to the miner who can find the result of each block with a lceChain platform there will be an ability to issue block rewards and use less hash power overall. Block rewards will be issued on a proportionate basis which will decrease the overall energy needed for mining and make the platform economically efficient.Through a highly advanced technology, according to the demand of quantity and distribution will be the use of scalability, bringing more productivity to Blockchain users High productivity, more security with reduced costs are some of the advantages of IceChain.
Main Features on the lceChain Network:
- lceChain maintains a horizontal scalability option, running each node as a full node which creates the same security against attacks as what a traditional blockchain offers.
- lceChain network was designed from the outset with this scalability feature in mind, so it will run smoothly and will offer high throughput.
- The lceChain network is safe and well protected by 50% hash power distribution.
Through using the newest technology including using shards, lceChain will be able to scale as need and also be able to handle any amount of distribution. Using this model, lceChain will be able to offer high-throughput blockchain users are already looking for; something safe, fast and cheap (if not free) to transact on. Since the platform will run on a distributable network, it will allow the ICH coin to integrate into common purchase transactions, offering a decentralized and fast service
The design principles which form the basis of the lceChain network are that the platform is able to scale as needed while not compromising on any level of security and without costing users more in transaction fee. Security, scalability and decentralization are at the core of the lceChain model. Cross shard transactions will be able to be created in a seamless manner which will give a high level of quality within the experience to users. All this, on an ecosystem that will be driven by incentives and able to support a wide variety of alternative platforms to provide users the ability to use one account for all their transactions. Security will be maintained at the same high level regardless of how large the platform scales. The contemporary functioning of blockchain technology offers two basic functions in every block found in a chain. There is the ledger that includes the current ledger, and the confirmation that is required to approve the transactions from within the ledger and go on to mine blocks in order to reach the desired difficult levels that creates the proof of work. A ledger has the main benefit of offering a large area where data can be stored which would include the ledger being up to date and continuously making notations of all new transactions when they happen. Included in this would be the source, execution code, destination and amount of the transaction. Only a finite amount of information is capable of being saved into any single block, which is what causes the longer time waits in the blockchain. Transactional results will create confirmations in the ledger prior to the block being mined in order to reach the necessary proof of work. It is this system that creates a belief in safety that another user could not attach the system by fork mining, since to do so would cost the user far too much money and as such not be a viable plan. More hash power is needed for the computation than for the rest of the tasks needed to complete the process.
The lceChain network has both a head blockchain, and several minor blockchains, that all operate on different levels of difficulty and with different levels of incentive. Miners can then choose which blockchain is best for them considering their desired hash power. This creates an open market economics model that allows the blockchain to act as a goods seller, i.e. the block rewards, and makes the miner a buyer. This benefits all parties and allows all to pursue their own interests. All lceChain system transactions are protected through the operation of a consensus algorithm across the head and shard networks, while a proof of work system will be operating across the head chain. At the same time a head chain first proof of work algorithm is running within the shard networks. This type of proof of work system operates in the main blockchain networks as well, such as Bitcoin and Ethereum, that have the first proof of work additional head chain as a unique shard network platform compared to lceChain.
IceChain Token (ICH)
ICH is an IceChain own token. It is an ERC-20 Etherium based token designed to fuel the activities on IceChain, also available for mining and to use for bounty rewards.
Token Name: ICH
ICO Rate: 1ETH = 16700 ICH
Currency Accepted: ETH
From the previous solution, there is no doubt that IceChain might be the perfect model of what the blockchain should be. For example, there is decentralization and complete securities that will prevent multiple spending attacks.In addition, transaction costs will be reduced simply because the system can conduct transactions in real-time and quickly too. Interestingly, IceChain has future prospects because various platforms such as IoT, Retailers and financial platforms will find it useful; thus leading to faster adoption.
For more information, click the link below:
Website : https://icechain.io/
AAN Thread: https://bitcointalk.org/index.php?topic=5057035
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2217709
ETH Address: 0x3D17c00506572Bd93869D7818cE71Ae1822c139E