2008 made a big contribution to the cyber community. The scope is not about traditional internet services and other cyberspace platforms but about new technologies. Blockchain technology has been a huge success in all the benefits that already exist.
However, one feature that is lacking is the ability to carry out concurrent transactions without delay. These and a number of other underlying reasons have become reasons why technology has not been adopted. For this purpose, IceChain interferes with the current scenario and is determined to make the blockchain the right place.
Introducing IceChain
housands digital assets have been curated after Bitcoin and more are still coming. IceChain is one of them but this time, ups and downs are intended to turn against the limitations of current blockchain technology.
Projects in the field want to make transactions faster and use less power for that. For this purpose, there is a set of ease transactions on a decentralized platform.
Support for Multiple Transactions
If you have transacted with cryptocurrency and already have contact with blockchain technology, you must realize that the platform is not completely free of hitches. At present, there are continuing delays in transactions and this requires platforms that want to make the system faster.
IceChain might be better than other feasible solutions and some quotes would be enough to put trust in the statement. Often, there are comparisons between crypto coins and fiat currencies and payment solutions such as VISA. The reason is because blockchain transactions are quite slow.
The solution pioneered by IceChain features popular fraction technology. This allows multiple transactions to be carried out simultaneously. When compared to Bitcoin, it's clear that IceChain will be able to support concurrent transactions and still have the ability to scale everything in real-time.
Shard Technology
The reason behind the IceChain fraction technology is a viable option for the Bitcoin (PoW) work algorithm. The idea here is that transactions that have hitherto been delayed on another blockchain because longer time taken to store information in blocks now will be facilitated by shard technology that does not need a ledger to store data.
Power and Cost Reduction
Other weaknesses that are solved are the level of hash power and transaction costs. In other chain networks, many hash strengths are often needed to process transactions and there are also costs that must be considered.
On IceChain, costs may even be released (depending on the transaction) and events using a lot of power may not be there because the transaction is in progress without delay. Therefore, there is no need to have extra power to complete the transaction that is left behind. He also has the ability to do 100,000 transactions every second.
Technology
As part of its mission to the blockchain which is decentralized and faster, IceChain has a double layer that allows high throughput. There is also security against double spending as well as the smart contract will be supported by Ethereum Virtual Machine.
Chain Network
IceChain operates a double chain. The first is the head chain which will be a model for decentralizing the system. It has the ability to achieve a 100% hash power level and when this is the case, the platform will then be patterned as its own blockchain. There are around 10 small blockchain that will help the main chain in its operations.
Solutions for Double Spending
It is important to note that multiple expenditure attacks are possible on other platforms because there is a clear centralization of the power of the hash. This allows the miner to form pools and obtain hash strength which in turn is used in multiple spending attacks on the system.
On IceChain, there is direct decentralization that distributes 50% of the hash power across the network. This ensures that no one has a monopoly to take over the system because it has more hash power in its ownership.
Token specifications
Ticker: ICH
Platform: Ethereum
Standard Token: ERC-20
Token Type: Utility Token
Perfect Blockchain
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 PLEASE VISIT THE BELOW BELOW:
Website: https://icechain.io
ANN Bitcointalk: https://bitcointalk.org/index.php?topic=5057035
Twitter: https://twitter.com/theicechain
Telegram: https://t.me/theicechain
Authors: YarisRiyadi1st
My Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1756824;sa=summary
My ETH: 0x8B1820FB5829696cA5b595d09dF4e0F5757a97A7
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