ICECHAIN High-Throughput Transactional System

IceChain (ICHX)

IceChain is using next-generation distributed ledger technology which takes blockchain to the next level, IceChain aims to bring a solution to the current problem of scalability which traditional blockchain based networks are having. We can do this by using IceChain's double chain setup, sharding and hash power distribution. IceChain will handle over 100,000 transactions per second across any industry, from finance, electronics, electricity, telecommunications, food, autonomous vehicles, and real estate to name a few. This will save costs and provide the highest level of transparency.

DECENTRALIZATION

Necessary expenses are reduced through a decentralized trading and storage, giving everyday people the chance to gain from technology just like a business or large group would. Decentralization also creates the security for the entire blockchain that is inherent in a good blockchain platform. When smaller mining pools link together to create mining pools, proportional block share rewards can be enjoyed by any miner, in the same time frame that a larger mining pool would gain. Centralization is benefitted by this design of blockchain which is a risk to the decentralized proof of work format blockchain that is envisioned.

Collaborative mining style formations create difficult algorithms which are effectively hard enough to share the hash power across the miners equally, which allows for the system to be evenly spread. This is controlled through the head chain and by ensuring that at least 50% of the overall hash power is spread across the entirety of the network. This acts to prevent any type of double spend attack or attack by a malicious miner. 

SECURITY FEATURES

If security issues are prioritized through a decentralized ledger, vulnerabilities on the transactional platform can be secured and eliminated. In order to keep every node in sync, a peer to peer blockchain has the requirement of needing to be updated regularly. In a proof of work based blockchain there will be 51% of the total hash power needed for completion f the double spend or in order to reverse any transaction. To create an attack like this requires the platform to be less decentralized than what is possible in the lceChain network. When a blockchain is appropriately decentralized it will create a situation that it would not be economically efficient for a person to attempt a double spend attack.

The lceChain network has both a head blockchain, and several minor blockchains, that all operate on different levels of difficulty and with different levels of incentive. Miners can then choose which blockchain is best for them considering their desired hash power. This creates an open market economics model that allows the blockchain to act as a goods seller, i.e. the block rewards, and makes the miner a buyer. This benefits all parties and allows all to pursue their own interests. All lceChain system transactions are protected through the operation of a consensus algorithm across the head and shard networks, while a proof of work system will be operating across the head chain. At the same time a head chain first proof of work algorithm is running within the shard networks. This type of proof of work system operates in the main blockchain networks as well, such as Bitcoin and Ethereum, that have the first proof of work additional head chain as a unique shard network platform compared to lceChain. 

lceChain is operated by determining which one of two shards will be allowed to survive through having a node compare the corresponding chains and only allowing the longer one to survive. This type of system would be much more difficult to attack since it would require manipulating at least 51% of the overall hash power to survive.

On the lceChain platform there are 10 minor blockchains that operate in the network system with a total head blockchain target of no longer than 180 seconds in duration and block target durations of 10 seconds. This will facilitate the system being able to operate and around 10x the level of any single shard, therein creating an even mining. Trying to run super full nodes ends up being higher priced when there is a high level of throughput in the blockchain. If 1M TPS is given on each transaction of 300 bytes a requirement would be created for over 2.4GBps of network bandwidth, which most users could not achieve. Traffic would also create a pull on the central processing unit, storage, memory and overall network capability, which is not conducive to blockchain values nor any good for maintaining decentralization.

The lceChain network will tackle this issue through the implementation of several 'trust' nodes that will cluster in order to run like a super full node. Each node will only be able to validate a small subset of the chain and the grouping of subsets that cover the head chain. If one node crashes it will not be an emergency because the other nodes will still be running and continuing to validate blocks by the ability of any two nodes being able to cluster. Miner incentives will encourage cluster formation that will have the result of encouraging miners to work together. 

Solving random block information will be conducted over a high number of blocks that will be intensive on memory use and create an inefficiency in downloading random blocks. A transaction will be classed as either being a cross-shard transaction that has their input and output addresses contained on different shards, or will be in-shard transactions. The in-shard transactions have less difficulty since the shard stores all the information together, and a requirement to synchronize cross shard transactions as they increase in amount. The cross shard transactions will be supported by allowing any user to be able to issue a cross shard transaction at any point in time, that will have a minutes confirmation and be able to scale linearly as shards increase in numbers.

With the lceChain solution a user will not have to make several accounts across all the different shards in order to manage their cross-shard transactions since only one account will be needed for account management to complete a smart contract. Smart wallets will facilitate cross-shard and in-shard transactions in a seamless manner, allowing the user to have in-shard transactions. 

CROSS CHAIN TRANSACTIONS

In the lceChain design a cross-shard transaction becomes manageable by token conversion and transaction performance. A sub-chain will be on offer to the other chain, that can make a cross-chain a cross-shard. Smart contracts will be made possible through the EVM as it is the most popular choice at present. Off chain transactions will be accommodated for whenever a transaction must have access to information that is off the blockchain. Smart contract data will be sharded when needed and remain specific in nature. The overall account management is made easy by the ability to have one account having access to any shard and users will be able to run a primary account containing the user address in a default shard, or by running a secondary account that manages every address of the user in a shard. The primary option will be the most popular account chosen and will only be moved temporarily to another address in a second account if necessary. The remaining balance in the secondary account will be moved back to the main account. The overall process will be easy and the shards will be able to automatically detect what a user's primary account is, with seamless running that will go unnoticed by the user.

For More Information Click Link Bellow:

• Website: https://icechain.io/
• Whitepaper: https://icechain.io/icechhain_whitepaper_v0.1.pdf
• ANN Thread: https://bitcointalk.org/index.php?topic=5057035
• Telegram: https://t.me/theicechain
• Facebook: https://www.facebook.com/theicechain
• Twitter: https://twitter.com/theicechain