IceChain is making use of next-generation distributed ledger technology which is known to take blockchain technology to the next level. This particular project is aimed towards providing a solution to the current problem of scalability which is currently faced by the traditional blockchain based networks. This is going to be tackled with the help of the Icechain’s double chain setup, sharding, and hash power distribution. IceChain is going to handle more than 100,000 transactions per second across any industry from finance, electricity, telecommunications, electronics, food, autonomous vehicles, and real estate to name a few. This is going to reduce costs and thus, provide the highest level of transparency.
IceChain has established a system that is known to handle a large amount of transactions. lceChain is an innovative digital platform that is scalable in nature and which provides secure, decentralized technology. This guarantees the high level of security, leveraging permission less mining and transactions secured by at least 50% hash power at one time sent to the head chain to prevent double spending. The platform can also issue cross transactions and be confirmed in a few minutes. The number of cross transactions at any one time will act to increase the response speed.
lceChain platform is known to have the ability to issue block rewards and make use of less hash power overall. Block rewards will be issued on a proportionate basis which will cut down on the overall energy that will be required for mining and thus, make the platform economically efficient. This will allow lceChain to have a dominant level in the industry.
In the future, the traditional way of transacting will gradually become obsolete as customers will opt for the service which will allow them to facilitate their transactions at the cheapest cost and in the fastest time with the highest level of security. The scaling is a major problem for traditional blockchains at present. Under the lceChain system, this will be eliminated and the platform will have the ability to scale as appropriate to allow for any number of users to make transactions at the same time.
How does it work?
With the help of the newest technology including the use of shards, lceChain will be able to scale and also be able to handle any amount of distribution. Using this particular model, lceChain will be able to provide high-throughput blockchain that users are looking for. Since the platform is known to run on a distributable network, it will allow the ICH coin to integrate into common purchase, transactions, offering a decentralized and fast service.
Icechain is known to make use of ICH token. This is the main token that is going to be used within the network. the ICH token will issue at the outset as ERC20 tokens on the Ethereum network and will then migrate to the Icechain own network. The ICH token is the native token for the Icechain platform.
Thus, from the above discussion, it can be concluded that this is an innovative platform that has been developed for the benefit of the users. If you wish to know more about the concerned project then you should go through the whitepaper of the project once.