REVIEW OF IOCHAIN

Inception of the Blockchain Technology in 2008, brought the knowledge of cryptocurrency to the world. Elites and noobs doing all they can to have a good grasp of the technology. Bitcoin been the first cryptocurrency accepted for the exchange of goods and services use proof-of-work (PoW) consensus. PoW ensures that miners earn based on how much mathematical nodes that can be solved in order to confirm/process a transaction.

The first blockchain generation (Bitcoin) miners consume quite a large amount of energy (electricity), which isn't cost effective for them and the global power consumption. As technology is dynamic and not static, there came the Ethereum blockchain, which is termed the Second Blockchain Generation uses Proof-of-Stake (PoS) consensus and smart contracts. With PoS, miners can only process any transaction based on how much stake they possessed.

As wonderful the first and second blockchain technologies are, both failed in the aspect of scalability and to process transactions across chains. I present to you an innovation that has inbuilt scalability in it's blockchain.

The unique advantage Ionchain has over the first and second blockchain generations is SCALABILITY. Ionchain aims to bring distributed and scalable system into its ecosystem.

IONCHAIN NETWORK TECHNOLOGY
Aside ensuring scalability (core feature of Ionchain), it has also made it mandatory that dencentralization, security and transparency are factored into its ecosystem. Ionchain network tenchonlogy intend to:
a. provide users with an easy to use account
b. be an incentive driven ecosystem
c. support different platforms, and
d. give user quality of experience (QoE).

CORE FEATURES OF THE IONCHAIN NETWORK

Decentralization
To reduce expenses and allow the masses to pertake in the technology, there is an urgent need to decentralize storage and trading, which in turn would boost and ensures security of the blockchain. With decentralization in place, it allows all miners, especially the weak ones to earn proportional reward solving mathematical nodes alongside the large miners.
Sharding
Sharding is the data partition of a large database into smaller databases. This is the most common way in which centralized systems achieve their scalability needs. For example, Ethereum supports transactions between fragments and has been noted as a fragmented integration for your scalability needs. A complication that arises for existing blockchains is the ability to integrate fragmentation if it was not planned at the beginning. The challenges surrounding fragmentation include multi-fragment transactions, scalability issues, and security issues, such as acquisitions of unique fragments. Since the user account should have several accounts to keep up with the fragmentation to complete a transaction. The compatibility between decentralization, scalability and security must be met in a successful blockchain. Thus to ensure increase in security per transaction, data will also be required. This means that to have a large storage capacity, one must settle for lower transaction speeds.
Scalability
The blockchain can be scaled in various ways, some of which are multiple blockchain, sharding and lightning network. Scalability ensures that large transactions are processed with the shortest timeframe thereby eradicating clogging in the network.

IONCHAIN TOKEN
IONC token, which is the token to be used on IONCHAIN ecosystem follows the Erc-20 standard embedded o the Ethereum blockchain. It will used to facilitate all forms of transaction in the IONCHAIN platform. As soon as that IOCHAIN mainnet goes live, Ionc token will be swapped to Ionc coin.