The innovative values of ILCoin’s developments: DApps & Smart Contracts
“The blockchain isn’t only a business but also a science that is capable of changing our lives.”
The value of innovation does not always get expressed right at the moment when the technology is created. We often need to face the issue that trends and market expectations do not chime in with optimal technological solutions. Obviously, this is not an entirely new phenomenon as several outstanding ideas have vanished away over the previous thousands of years. The question arises: Which trends will dominate the blockchain market in the upcoming decades? Has a solution in technology been created already that is capable of safely transferring large amounts of data through the network?
There are several questions regarding blockchain solutions. It is safe to say that the market is still in the process of being formed, and the breakthrough that could bring about the absolute dominance of the blockchain in information technology and financial and economic processes has not yet been realized. In spite of a large number of ideas, there are only a few solutions to the basic problems that the market is facing. Transaction security and transaction speed are two key aspects when it comes to the widespread adaptation of the technology.
Increasingly, current trends tend to prefer off-chain solutions since they are more favourable in terms of cost-efficiency than on-chain based solutions. With that said, this trade-off also comes with its drawbacks that show when it comes to secure data storage. Off-chain technology, which fundamentally contradicts the values of decentralization, can become vulnerable to tampering since the data isn’t decentralized and dispersed to different nodes on the blockchain. Reference verifications do not imply that the full transparency of the data is verified, nor do they contribute to complete security. If the entire data content is not synchronized, transparency cannot be verified.
This clearly does not mean that off-chain technology is worthless, it only makes the attributes that characterize off-chain technology clearer. The off-chain approach may be dominating the present, but the future will most definitely be about on-chain based data storage. Therefore, this is the reason why the ILCoin Development Team has created the RIFT Protocol, which is capable of efficiently managing large amounts of data on the network. The RIFT Protocol is the solution for building the future’s blockchain systems.
Why does the RIFT Protocol play such an important role in the ILCoin Blockchain’s technology? All future developments will be implemented on a system that is neither threatened by low transaction speed nor by FIFO and Bottleneck problems. This is of great importance as this is the only route to push ourselves out of the shadow of Bitcoin. No matter what the utilization area is, the future will be about blockchain-based solutions. However, DApps and Smart Contracts are in need of an efficient and fast blockchain.
The ILCoin Tools page has been created with the aim that external developers can upload their DApps to a page that is accessible and available to everyone. The primary DApp developments of the ILCoin Development Team are games; through which ILCoin is provided with valuable utilization. However, these games are not just about visual enjoyment. As the roadmap on our website suggests, game developments also serve the purpose of contributing to the scientific utilization of blockchain technology. The value of VR games is outstanding, and if all of these work on a blockchain base, the innovative approach brings further acknowledgement to the developers.
Clash Brand is well-known amongst most people in the world. The roadmap also shows that the ILCoin Development Team has signed an agreement with Clash, which is about the creation of “Clash of ILCoin” and about a World Tournament. The number of Clash users exceeds 500 million. This means that ILCoin will become a member of the world’s largest mobile game community. Thanks to the games and VR games, the popularity of ILCoin is expected to grow.
However, the objectives of ILCoin do not come to an end at games and other DApp developments. The team is committed to working on a smart contract system that is one-of-a-kind in the world. As you can see in the roadmap, smart contracts are built on a modular approach, and they use the Solidity programming language; one of the most well-known programming languages on the blockchain market. The goal is to create an adaptive smart contract system that can help and contribute to ILCoin’s spread, thereby increasing its market value and, of course, its number of users.
Smart contracts are part of a development plan where ILCoin will eventually open the doors to the opportunity for on-chain based data storage; namely, the Decentralized Cloud Blockchain (DCB). This model is about way more than just uploading data; the DCB and its related smart contract system will provide millions of people with the opportunity to manage, store and trade their data in a unique, unprecedented way. The on-chain based smart contract system ensures both data security and business transparency. Currently, no other project is working with such an approach to technological innovations as the one represented by the ILCoin Development Team.
