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I/O Coin

What is I/O Coin?

I/O Coin is an innovative cryptocurrency built with an emphasis on security and privacy, while at the same time offering a myriad of features built on the blockchain platform. I/O Coin is focused on providing a balanced and fair distribution. This was achieved by adding a sophisticated cryptographic hash in the source code. It is a project that is focused on scalability, global adoption, and security.

Since the launch of the I/O Coin, this project has achieved synergy through different inherent features, trust, and support. It is one of the few projects that has managed to enjoy 100% uptime in more than 32,000 hours of computing proof of stake consensus.

There is a sheer and robust commitment to securing the I/O Coin chain. The development team behind I/O Coin is committed to offering a safe, user-friendly and game-changing blockchain framework.

The I/O Coin project has made development one of the top priorities, and since then, have formed a non-profit foundation that helps to inform people about the I/O Coin blockchain, and encourage more people to open up to the prospect of blockchain technology.

By creating awareness, individuals and companies will be able to adopt I/O Coin and other blockchain based application services.

Protecting privacy and giving the right to ownership of personal data to users is an important part of technology today, especially if the communication is supposed to be trustworthy and secure.

This, together with the features of the I/O Coin blockchain, is expected to be a game changer in the blockchain ecosystem. I/O Coin is creating a private and secure blockchain that is efficient in any application, idea or business. As long as the user has an available API, they can connect to the I/O Coin blockchain.

What is the problem that I/O Coin Solves?

Ever since the development of Bitcoin, there have been so many developers who are invested in creating the competing peer to peer digital assets.

Most of these, unfortunately, were no more than copies of Bitcoin, which did not offer any promise regarding the features, design or purpose.

There were many others that even made attempts to improve on the path that Bitcoin had started, but this has since proved to be difficult to realize altogether.

There are viable proposals to improve on the Bitcoin technology. On their part, Bitcoin has also made attempts to improve the expanding power and ability to mine coins.

However, this comes at a cost. It is estimated that the average spending on power consumption a day globally is at least $150,000, in 2013, and this is attributed to Bitcoin mining alone.

In 2018 January this estimate had risen to more than $5 million in a day. In light of this realization, one of the biggest problems that need addressing is that of exorbitant power consumption as a result of mining.

Building on the need to address the Bitcoin challenges, I/O Coin was introduced. I/O Coin could reduce the spending on consumption by 30%, and added several improvements, making it a safer alternative.

Later developments would bring forth the I/O Coin in 2014, with a unique approach to proof of stake consensus.

How does I/O Coin Solve the problem?    

I/O Coin introduced a blockchain upgrade, DIONS (decentralized I/O Name Server). The role of DIONS is to enable data on the blockchain with enhanced capabilities for identity and document storage. Through this upgrade, users can look forward to AE5 encryption messaging, and a complete alias system.

All the fees received from the alias system, IOC data and messaging are redistributed into the system to all active steakers. This is to make sure that there is sufficient incentive for users to keep staking and secure the network.

Facing challenges like security breaches, data bloating and the fact that user-friendly features were the stumbling blocks to realizing the blockchain dream, I/O Coin initiated an upgrade that would become the entry point for the blockchain. With this in mind, I/O Coin uses a proof of stake algorithm called CiPher.

Through this algorithm, I/O Coin has managed to enhance the platform by improving staking and security features and making sure that the same applies to messaging, decentralized encryption and any other features that are inherent to the platform.

By combining all the security features and the decentralized blockchain, DIONS has proven to be a successful part of the I/O Coin project and making it one of the best blockchain platforms that offer a user-friendly experience.

I/O Coin never had a pre-mining run for their coins. I/O Coin runs on proof of stake (PoS) instead of proof of work (PoW) consensus.

The reason for this is because proof of work demands that users have to calculate hashes repeatedly to have their transactions validated. This, therefore, becomes a challenge on the network regarding the resource strain and is also dangerous for the environment.

Instead of proof of work, proof of stake depends on the user proving that they own the coins they stake. In this regard, those who own larger sets of coins, or who have held coins longer, have a higher chance of signing the subsequent blocks.

This also makes proof of stake faster and more environmentally friendly as compared to proof of work. Other than that, it is also cost-effective, setting I/O Coin ahead of projects that are inherently running proof of work, like Bitcoin.

What makes I/O Coin better than the competitors?        

The issue of privacy and security in blockchain technology has been discussed in so many projects. A lot of such projects make a promise to deliver on these features and services, but this is not always the case. Given that I/O Coin has managed to do this successfully, the following are some of the reasons why I/O Coin is better than most of the projects competing in the same right.

DIONS

This is one of the unique features of the I/O Coin project. It is technology that was specifically built for I/O Digital, providing an array of features that use the blockchain technology, including encryption, file storage, and private messaging support. DIONS also supports decentralized applications that are built to run on a P2P network.

HTML5 Wallet

I/O Coin also has an innovative and intuitive HTML5 wallet. The idea behind this was to make the I/O Coin as user-friendly as possible. This is one of the few projects that can be used by beginners without worrying about anything.

The wallet can be accessed anywhere in the world, making it a one-stop shop for users who need to send fully encrypted messages, use private file storage, and enjoy secure transactions while at it. It is also through this wallet that users can stake coins, thanks to the impressive GUI.

File Transfer and Storage

Through DIONS, I/O Coin has made it possible for users to enjoy secure file storage and transfer. All files and information that is shared on the I/O Coin network are encrypted, so there is no chance of someone intercepting them for their own nefarious reasons. Besides, it is also possible to transfer file ownership on I/O Coin.

Chameleon Technology

The introduction of Chameleon technology to I/O Coin is a good idea because it helps to improve the interaction between different P2P networks, in the process increasing the level of interoperability in any central provision system.

Trend-setting

There are so many projects that are basically clones of existing projects. It is very easy for such projects to fail, especially when faced with challenges or fixes they cannot handle.

What makes I/O Coin different is that while most altcoins follow in the paths of the likes of Ethereum and Bitcoin, I/O Coin created a new, innovative platform for applications, which improve the technology upon which all the other currencies are established.

Feature-rich Platform

One of the other benefits of I/O Coin is that this is a platform that was built with a lot of features through the I/O blockchain, and introducing the DIONS technology.

These are features that are not available in any other cryptocurrency project. For this reason, therefore, I/O Coin gives users a lot of tools and services which can help them increase their usability and at the same time, give them a very good user experience. This has also increased patronage and awareness of I/O Coin among the public.

Credibility

A lot of the I/O Coin projects are owned or developed by teams who maintain a shrewd level of privacy over their personal identities. This can be a confidence struggle for anyone who is planning to invest in their projects. Unlike them, I/O Coin developers are publicly identified. I/O has even been registered as a non-profit organization in the Netherlands.

This is something that sets I/O Coin apart from most of the other projects. Take Bitcoin, for example, a very successful project, but to date, the identity of Satoshi is yet to be clearly set. There is a lot of conspiracy as to whether Satoshi is a person or a group, and this only leaves room for conspiracy theories.

How can I/O Coin be categorized?

I/O Coin is a project that was built to promote a fast, secure and user-friendly blockchain environment to help increase the adoption of decentralized services all over the world. This is in light of the fact that there are so many blockchain projects, but very few are accessible to the average user.

What’s I/O Coin’s vision on Security?

After successfully launching DIONS, the development team at I/O Coin has been working on adding more privacy features to the existing ecosystem. On this note, stealth addresses were introduced, which integrate ring signatures.

Stealth addresses are important in making sure that users can engage in their transactions without worrying about privacy concerns. This is true for IOC receivers and data privacy. Such has been a challenge in many projects, even those that promise security and privacy of data. Stealth addresses protect privacy by getting a payment sender to generate a one-time address using one public stealth address.

Ring signatures allow the user to create a key signature for any number of stealth addresses. Therefore, it is impossible for anyone to determine which key was used in writing that signature. Ring signatures act as a complement to stealth addresses. Users can sign on any transaction and observers will not determine the identity of the person who signed the transaction. Therefore, this system is always working towards providing a very powerful resource for anonymity in document transfer.

Examples of I/O Coin use cases/applications

By creating a platform that is as secure as I/O Coin is, there are several uses to which this blockchain platform can be applied, including the following:

Balloting

I/O Coin has a secure channel mechanism. This means that it is a system that can be used to offer secure voting. Anyone can call a ballot for any different reason. To call a vote, it is important to establish what the ballot alias is. This can be anything from a designated group or even a functional alias.

Group Messaging

The I/O Coin system makes it possible for users to engage in encrypted peer-to-peer communication. With this in mind, it is now possible to extend the service to different groups or memberships.

A lot of popular messaging services claim to offer encryption services, but in recent times, this has been debunked, highlighting some of the flaws in their systems. This calls for the need to have a better, safer way for people to interact, share and discuss technological and political views without worrying about repression, clampdowns or sudden censure of the messaging platforms by state agencies or governments. This is where I/O Coin comes in handy since it offers a truly secure and safe, private communication platform for group messaging.

Scientific Computation

I/O Coin is currently working with experts to investigate how the blockchain project can be used in cancer development and research for treatments. Primary interest is on proteins with highlighted mutations or distribution changes in cancers. Any staking power that is not used in the project is utilized in assisting scientific computation.

Resources

https://coincheckup.com/coins/I/O-Coin

https://www.iocoin.io/

https://iodigital.io/

https://iodigital.io/news-and-updates/

https://iodigital.io/faq

https://www.docdroid.net/0hq7LH9/io-whitepaper-v2-final.pdf

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DigitalNote

What is DigitalNote?

DigitalNote is a blockchain platform for open currency that everyone can benefit from. This open cryptocurrency platform provides a decentralized privacy protected outfit for users, complete with encrypted messaging services and secure GPU services.

DigitalNote was introduced in 2014 when developers were still experimenting with privacy coins. It started out as duckNote, and later on evolved into DarkNote by adding encrypted messaging to the platform.

Soon after introducing blockchain staking and merged mining, DarkNote evolved into DigitalNote.

DigitalNote was founded as a Bytecoin fork, similar to Monero, and is one of the most technologically advanced forks of all the forks that were built in the same manner.

DigitalNote has been a successful force behind the need to fight government surveillance and censorship. These are two of the biggest challenges facing freedom at the moment, civil or in terms of advancing technological progress.

The following are some of the features that are built into DigitalNote that help to advance its cause:

  • Multi-signature support
  • Blockchain-based deposits
  • Encrypted, untraceable messaging
  • Scalable and adaptive
  • ASIC resistant
  • CPU efficient
  • Resistant to blockchain analysis
  • Untraceable payments
  • Unlikable transactions

At the moment, leak culture and worldwide events are shaping the future of societies, and it’s because of this reason that it is important to have an untraceable and encrypted technology like DigitalNote, which provides a true sense of financial privacy, and at the same time offer peer-to-peer banking functions.

What is the problem that DigitalNote Solves?

Untraceable, encrypted messaging is one of those things that cryptocurrency projects tend to promise, but not so many of them have been able to achieve it as they should.

This is one of the biggest challenges in blockchain computing. Most of the time, cryptocurrency is only concerned about digital assets, and how these assets exchange hands from one party to another. However, in some cases, even the transfers are riddled with inefficiencies.

There are times when the payer or payee will need certain information about the other party to the transaction they are engaged in. In such a case, this information can be shared through a secret message.

Take the example of an online store that is offering a money-back guarantee. For the customer to benefit from this, they would need to share their return or refund address as part of the transaction.

Because of this reason, it is important to have a way of communicating private information between parties without worrying about this leaking out somehow.

This is an important feature that most cryptocurrency projects have thought about, but not so many have gone on to implement. The convenience of private communication is one of those things that cannot be taken for granted.

Attaching a plain message to the transaction is not a challenge. However, the problem comes in finding out how to handle secret information. What these parties to a transaction can do, is to use a private key for encryption and decryption.

This is ideal especially when both parties are going to be in communication with one another for a long time. This is why DigitalNote proposes a protocol that would allow the transfer of encrypted messages inside these transactions. Sharing these messages does not necessarily require data exchange. For this reason, this would be built on a modern symmetric stream cipher, ChaCha20.

How does DigitalNote Solve the problem?

Any cryptocurrency project can claim that they are offering privacy. This is a very common statement that is thrown around. However, privacy and anonymity are two different things, and most projects can achieve either, or both, but at different levels.

What DigitalNote does is to focus on using the CryptoNote algorithm’s anonymous technology. For this reason, DigitalNote has a rather solid foundation for building anonymous technology into the project.

There are some unique encrypted messaging solutions that were also introduced into the DigitalNote project, which make it impossible to trace messages. In so doing, users on DigitalNote are able to enjoy the benefit of privacy and anonymity when conducting transactions. These are two features that might not be the same but are intertwined in one way or the other in the context of certain transactions. Considering that a lot of people are worried about the mass surveillance that is in place in so many jurisdictions, this is the best time to implement a project like DigitalNote.

It is also worth noting that DigitalNote is one of very few projects that are ASIC resistant. The problem with ASIC is that while it makes it possible to mine efficiently, it also has the downside of making the process more centralized, which goes against the basic concept of blockchain computing. This is a challenge that we have seen with Bitcoin and so many other alternative coins that came up since then. ASIC resistance, therefore, is a tradeoff that the DigitalNote developers were not willing to risk. How does DigitalNote manage to achieve all this?

Proof of Activity Based Staking

This is one feature that completely sets DigitalNote apart from other projects. XDN rewards users who stake coins in a non-inflationary method. This is not just a means of ensuring fairness in the network, but also offers enhanced security on the network.

Rewards on DigitalNote are determined only by the staking period. Those who stake on DigitalNote are, therefore, rewarded according to the time they have had their coins locked on the blockchain project. Users can lock their coins for anywhere between one month and ten years. The higher the number of stakers, the more secure the network is against attacks.

CryptoNote Technology

This technology has been fully implemented by DigitalNote, making it one of the few projects that are offering true anonymity. Through this technology, transactions are unlinkable. Details about transactions between the sender and the receiver cannot be drawn from the blockchain, which is not the case with most of the other projects.

Apart from that, DigitalNote also uses ring signatures. There is a complex process that is involved before a block is verified. This involves the use of several public keys from different users. Therefore, identifying the original starting point of any transaction content on the block becomes a problem. It is prohibitively difficult, and to be honest, practically unthinkable.

CryptoNight Algorithm

This algorithm is a memory function that is implemented on the CryptoNote protocol, that was used in developing DigitalNote.

Why is this algorithm important?

Well, this is the reason why Application Specific Integrated Circuit (ASIC) mining setups cannot overpower the network. This is a far cry from the SHA-256 that is implemented by Bitcoin.

It is through this algorithm that DigitalNote becomes a truly decentralized blockchain project, offering fairness for all users. A lot of the large PoW projects usually struggle because ASIC miners can easily turn the mining process into a monopoly, and over time, this also increases the risk of attacks.

Proof of Work/Proof of Stake Hybrid

Using a hybrid mechanism for consensus is a feature that has been successfully implemented by a few projects, and DigitalNote is one of them. This consensus is important in authenticating transactions. The network is broken down to stakers and miners. This is an important process because it helps to reduce the amount of power or resources that are consumed in running the network. It is also through this that DigitalNote makes sure miners never get to impose a monopoly in the system.

What makes DigitalNote better than the competitors?   

In a market where everyone seems to be promising privacy and anonymity in transactions and very few manage to achieve it, there is a lot of competition. The biggest concern is that most of these projects are usually clones of certain projects, so it becomes difficult to fully understand the code they are working with, hence the challenges they experience in implementing their manifestos, especially concerning privacy and anonymity. The following are some of the reasons why DigitalNote is better than most of the competing projects:

Consensus Mechanism

DigitalNote uses a hybrid consensus mechanism. It is one of very few projects that is running a hybrid proof of stake/proof of work consensus. This is an idea that helps to champion fairness on the network by making sure that miners do not get to hog the network resources, hence gaining control over the network. Apart from that, this also makes sure that there is a drastic reduction in the number of resources and power that is consumed on the blockchain. Therefore, DigitalNote can mitigate some of the environmental constraints that are often associated with projects that operate on Proof of Work, like Bitcoin.

ASIC Resistance

One of the biggest concerns that PoW projects face is ASIC miners gaining control over the network over time. This is not something that DigitalNote users have to worry about. When ASIC miners gain control, they pretty much create a monopoly, mining most of the blocks that are needed. By implementing an improved CryptoNight algorithm, users on DigitalNote have a fair chance of mining blocks. CPU and GPU miners can also look forward to mining blocks on DigitalNote without worrying about unfair competition from the ASIC miners.

Completely Anonymous

What else would you ask for, in a project that is offering true anonymity for users? This not easy to find, and most projects that claim they offer complete anonymity barely do. Transactions on DigitalNote are untraceable. Built upon that are privacy features that make your interaction process better and safer. All messages on DigitalNote are encrypted. You can send anonymous messages, and any comments on transactions are also safe and protected. When using DigitalNote, you are always sure that the privacy of anyone involved in the process is guaranteed.

This is different from what other projects do, whereby messages and transactions that are performed are stored on a public blockchain. Therefore, anyone who can access the blockchain can view the messages and have an idea of what was going on.

Feature-rich Platform

DigitalNote is loaded with a lot of features that most projects lack. First, DigitalNote has some of the shortest block times on the blockchain. This is because updates to the platform are run from time to time. All users on the DigitalNote project have the same opportunity to mine blocks, and the security measures implemented are amazing.

How can DigitalNote be categorized?

DigitalNote is an open privacy cryptocurrency. This is a decentralized, privacy-protected blockchain project that offers instant, encrypted and untraceable messaging, blockchain staking for fixed returns, and secure, GPU and CPU efficient ASIC-resistant mining.

What’s DigitalNote’s vision on Security?

Security is always a concern for projects like these that are about encryption, privacy, and anonymity. DigitalNote implemented the LWMA-2 difficulty adjustment algorithm. This helps to bridge the security flaws that existed within the original code. As a result, DigitalNote is now a network that is highly resistant to hash attacks or timestamp attacks. According to the DigitalNote developers, this is one of the best algorithms that micro coins can implement to boost their security, given that it offers the best and fastest response, especially for a predetermined level of stability.

Examples of DigitalNote use cases/applications

There are several uses to which DigitalNote can be implemented. Given that this is a project that focusses on privacy and anonymity of transactions, it would be ideal for the following scenarios:

Donations

Donors can simply specify either privately or in a public manner, how they would like to have their donations distributed.

Payment ID

Any merchant can choose not to provide an address, especially one that was recently created, for every single customer transaction. Instead of this, they can simply transfer the payment ID inside the transaction.

Moneyback feature

A customer that does not have a permanent account on a site, especially one who is making a one-off purchase or an infrequent buyer, can choose to specify their public address so that the merchant is the only person that can see it. This is useful should the customer need to invoke the money back feature.

Greetings

You can even send a digital postcard with a personal greeting message, and send it with a present if you wish.

Resources

https://coincheckup.com/coins/DigitalNote

http://www.digitalnote.biz/

https://digitalnote.biz/news

https://digitalnote.biz/whitepaper.pdf