ION CHAIN

wasilahdn (25)in #cryptocurrency • 6 years ago

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.

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.

This is beneficial for:

• Allowing the network to scale as needed without compromising on time or efficiency.
• Creating a higher level of decentralization than a normal blockchain.
• Security is created by maintaining 50% of the hash power in the base chain.

Ionchain system:

Smart Contracts – smart contracts will be facilitated through Ethereum Virtual Machine as it is currently the most widely used.
On and off Chain Transactions – off chain transactions are accommodated for times when transactions must access information that is not on the blockchain. Smart contract specific data can be sharded as required.
Account management is made simple by allowing one account to be able to access all shards. Users can operate a primary account, which contains the user address in a default shard, or through a secondary account which manages all other addresses of the user in a shard. The primary account option will be mainly used, then only temporarily moved to an address in a second account if required, with any remaining balance in the secondary account being moved back to the primary account.

DETAIL 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
Token Distribution