I/O Coin (IOC)
I/O Coin (IOC) is a form of improved cryptocurrency developed using its blockchain. It was released in the early days of the July month, the year 2016. According to IOC developers, the key focus of their team has been to facilitate market usability and encourage merchant adoption. Whether you are a customer or a merchant, your experience will be fast, effortless, and secure. To reach an optimal balance between security and efficiency.
How IOC works?
IOC has adopted a proof of stake model of verifying transactions on the blockchain. The proof of stake (POS) is proven to be energy-efficient and economical.It requires showing ownership of a certain amount of money, which means that the more currency tokens you own, the more mining power you will have. The POS helps in eliminating the need for massive power amount since the calculations are easy to prove, which makes IOC an Eco-friendly coin.
The IOC platform has also developed a decentralized name server referred as Di/ONS- this server allows you to register a username and match it to a hexadecimal address. The hexadecimal address is a uniquely composed of many numbers and letters. Each IOC token will have real value.
The address allows you to send and receive money using a human-readable name like James-IO, Bill-IO, John-IO, etc. You will know who you are making the transaction to while maintaining privacy. It was made possible with a uniquely generated ID that is attached to your username.
I/O Coin Video Illustration
The mobile wallet of IOC allows you to receive and send I/o digital currency with the use of your registered username. The wallet helps you to not worry about memorizing long addresses no more; you just need to remember your recipient’s username, then you will be able to send funds to him/her.