Incepted on July 24th, 2014, I/O Coin (IOC) set out to redefine the cryptocurrency landscape with its innovative approach. Unlike many of its peers, IOC championed a transparent and equitable launch without pre-mining, ensuring a level playing field for all participants. Initially adopting the Proof of Work (POW) consensus using the X11 algorithm, IOC strategically executed a live switch after a two-week mining period, transitioning seamlessly to Proof of Stake (POS). This bold move not only showcased IOC's commitment to decentralization and innovation but also emphasized its dedication to energy efficiency and sustainability, positioning it as a trailblazer in the POS domain.
Hybrid POW / POS
Under standard conditions, the blockchain operates with a consistent block time of 60 seconds, ensuring timely transaction confirmations for its users. However, the system's true agility shines during periods of heightened activity. When the network experiences a surge in transactions, the blockchain dynamically adjusts, slashing confirmation times to a rapid 16 seconds per block, all while accommodating up to 4MB blocks. Conversely, during quieter periods with high difficulty levels, block confirmations can extend up to 6 minutes, with rewards for stakers becoming less frequent.
Variable Block Times
Launched in 2014, I/O Coin began with a transparent 2-week mining phase, producing 16 million coins, and then transitioned to a Proof-of-Stake (POS) system. Stakers, vital to network security, earn 1.5 IOC per confirmed block. While average block times hover around 60 seconds, during high activity, they can be as swift as 16 seconds. From its current 20.5 million supply, projections suggest nearly 53.5 million I/O Coins in the next 20 years. Unlike capped-supply chains like Bitcoin and Ethereum, I/O Coin's model ensures liquidity and embraces the blockchain's full potential, highlighting its dedication to a sustainable crypto future.
Supply
In Shuffle Staking, the selection process for who gets to validate the next block and earn the staking reward is randomized. This means that even stakeholders with lower coin balances have a fair chance of being chosen. The mechanism works by randomly shuffling the order of potential validators, ensuring that the opportunity to validate blocks and earn rewards is more evenly distributed across all participants, regardless of their stake size.
Shuffle Staking
Private Payments
Shade addresses on I/O Coin enhance transaction privacy by generating optional and unique, one-time addresses for each transaction. This feature maintains user anonymity, as transactions cannot be linked to each other or to the public address. Ideal for those valuing privacy, Stealth Addresses shadow tracking and surveillance of transaction histories, reinforcing the security and confidentiality of blockchain payment interactions.
DIONS
I/O Coin stands out in the blockchain realm by harnessing the power of AES 256-bit encryption, a gold standard in security, ensuring that data stored and transferred remains impervious to unauthorized access. This commitment to user experience is further exemplified by its innovative alias system, which replaces intricate cryptographic addresses with intuitive names, simplifying transactions. Beyond just facilitating secure transfers, this alias system paves the way for encrypted messaging, allowing users to converse privately within the blockchain. Moreover, the platform's architecture is adeptly designed to support the development of decentralized applications (dApps), which can fully utilize the inherent security and features of the I/O Coin blockchain, promising a future where applications are not only decentralized but also fortified by top-tier encryption.
DVM
The forthcoming DIONS Virtual Machine (DVM) is a monumental stride in I/O Coin's journey, seamlessly integrating Ethereum's Solidity language. This integration not only welcomes a plethora of existing Ethereum applications and decentralized exchanges but also ensures a smooth transition for developers into the I/O Coin framework. Central to this is the DIONS data payload, I/O Coin's distinctive feature, which underpins secure data transfers and forms the core of DVM's functionality. The synergy of DIONS and Solidity distinguishes the DVM, marrying robust data storage with versatile financial transactions. The anticipated 2024 DVM upgrade symbolizes I/O Coin's dedication to innovation, adaptability, and user-focused progress, envisioning a blockchain future where platforms collaborate as unified innovation hubs.
