Bitcoin brings a disruption in the field of technology. Blockchain is the force of nature behind Bitcoin. It is the revolutionary technology in the history of mankind. Blockchain technology is immutible, incorruptible and yet it is unhackable. That's why most of the Institutions began exploring implementation of blockchain into their core applications.
Ethereum, which has brought even higher level of distributed ledger technology (DLT) and automatically executing smart contracts. Blockchain backed cryptocurrencies provide faster, reliable, secure and low cost transactions than any other present day technology. But yet the today's blockchain's can't be scalable and doesn't handle high volume of transactions.
IceChain, a digital innovative platform which provides scalability, security, can handle high load of transactions and is fully decentralized. Let's discuss the promising high quality project in this article.
The IceChain Technology
Today we can see thousands of cryptos and their different blockchain's. But still they lag and have limitations in terms of transaction amount and speed. IceChain will bring a disruption to traditional blockchain.
IceChain is committed to provide scalability solution without compromising the security. Traditional blockchain's fail to provide scalability and this makes people to leave obsolete technology and to adopt IceChain. It provides faster and high load of transactions at lower cost with highest level of security. In order to provide seamless and high quality transaction experience, IceChain uses cross shard technology. Shards independently process different transaction subsets which are supported on the platform. IceChain Network has a head chain, which confirm the blocks on the chain without processing any transactions. And it is very difficult to revert these transactions.
Icechain uses dual chains, single chain and multiple chains. When the hash power of single chain ( Head chain) reaches 100%, then multiple chains repositions to form a single chain of infinite size. And when the hash power becomes 0%, then all the chains work independently.
IceChain supports multiple transactions
The people who are familiar with blockchain, cryptocurrency and trading. They probably know the hindrance of transaction fees and the confirmation delays. If the network traffic increases, the transaction delay also increases. Even still we have blockchain 2.0, the transactions takes more time compared to today's traditional centralized payment systems such as VISA.
IceChain is aiming to provide viable solution through sharding technology. Sharding allows blockchain to become more scalable, thus allows high volume of transactions at a single time. Icechain can handle 100,000 transactions per second.
Sharding
Sharding is done to scale the blockchain, here the larger database is partitioned into several smaller databases. Due to Sharding there is no need to store the data on the ledger, thus it saves the time required to store information in blocks to complete the transactions. Thus it becomes more viable solution compared to proof of work concept.
Power and Cost efficient
In traditional blockchain's high hash power is required to process the transactions which ultimately increases the transaction cost. In order to make it efficient Icechain allocates 50% hash power on the head chain and integration of sharding technology helps to increase transaction capacity. Thus Icechain will process more transactions at faster rate, low cost and with less power.
Protection against double spending
Traditional blockchain's are more vulnerable to double spending attacks, because of centralized hash power. Icechain distributes 50% of the hash power on the head chain network. This makes the network fully decentralized, which makes it impossible to do double spending attacks.
Token structure
• Token ticker: ICH
• Token platform: ERC20
• Token type: Utility token
• Tokens for distribution: 5,000,000
Token distribution
Roadmap
Team
Conclusion
Icechain will provide viable solutions that traditional blockchain's couldn't. Icechain's Sharding technology makes it more scalable without compromising security. Thus it can handle high volume of transactions at faster rate and with low fee. Icechain can be implemented easily in IoT, food industry, retails, logistics, financial services and in other areas. It is worth noting that Icechain is fully protected from double spending attacks. It is a very promising project to invest.
Learn more about Icechain:
Website: https://icechain.io
Read Whitepaper: https://icechain.io/icechhain_whitepaper_v0.1.pdf
ANN thread: https://bitcointalk.org/index.php?topic=5057035
Telegram: https://twitter.com/theicechain
Facebook: https://www.facebook.com/theicechain
Twitter: https://twitter.com/theicechain
Steemit: https://steemit.com/@icechain
Reddit: https://www.reddit.com/user/theicechain
YouTube: https://www.youtube.com/channel/UC46vRZJCmMWCuGyPomoni2A
GitHub: https://github.com/icechain
About Author:
Bitcointalk username: Abhijeetcg
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1676105;sa=summary
ETH address: 0x96e95a1F40cf5a50178053740ADE18046815362d
