ION CHAIN Review

awwalcrypto (6)in #bitcoin • 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.

We are at the brink of witnessing the next phase of blockchain, blockchain version 2 is indeed loading. ION CHAIN is the blockchain version 2, A platform that will neither compromise the already existing security nor sacrificing the decentralization capacity of the blockchain technology, yet coming with a double layered platform with the aim to further fortify the scalability with which blockchain technology is known.

The Ion chain which is built on the Ethereum platform has IONC TOKEN as its operational cryptocurrency in this ecosystem. The following is the starring innovative features of the ION CHAIN.

DOUBLE LAYERED BLOCKCHAIN:

This intensifies the security of the blockchain by reason of the ionchain ecosystem where a compromise of the entire system can only be achieved by fork mining.

The cost ineffective nature of the fork mining is a strong discouragement to this process. Hence, a layer is further dedicated to security while the other layer is dedicated to scalability by means of sharding.

ION CHAIN CROSS-SHARD TRANSACTION:

The ion chain platform offers the ability of token conversion across chain through the cross-shard transaction. This can also be achieved by offering a subchain to the other chain, which then converts the cross-chain to cross-shard.

Ordinarily, sharding is the partitioning of data to a smaller data units with the aim to achieve scalability as seen in centralized systems. The ionic cross-sharding transaction provided by the ionic ecosystem is by far beyond the ordinary sharding provided by centralized systems.

Here, the insecurity tendencies posed by sharding can be curbed by the balance created by prioritizing security through the provision of a decentralized ledger coupled with the introduction of BASE CHAIN POW ALGORITHMN.

SUPER FULL MODE WITH MULTIPLE NODES IMPLEMENTATION:

Through horizontal scalability, the ionchain platform runs each node as super full node which neither give room nor compromises the security of blockchain against any form of attacks.

DOUBLE SPENDING PROTECTION:

Double spending attack is the ability to reverse any transaction by reason of reaching the hash power required to achieve it.

However, the higher level of decentralization provided by the ionchain platform by virtue of the base chain helps to control and raise the stakes to prevent the hash power needed for the double spending attack to be reached easily.

No doubt, the ionic chain project is a comprehensive project that also aims to solve other industry related problems with a view of raising the scalability, decentralization, security and flexibility of the blockchain technology.

With a just concluded successful Private sales of ionc token, and an ICO in the offing for the remaining 20% of the entire ionc token , ionchain is bound to make a milestone in the crypto space within the limited time they have operated.

The ionc token (the official means of exchange in this platform) has several USE CASE by virtue of cross chain ability. Beside its unique features, it is community driven and people centered project as 29% of the distributive token is allocated to airdrops.

The just concluded successfully airdrop is a credit to the ionchain project. The ION CHAIN project is ably lead by Chong Wang with a team of experts.

Roadmap: