The team behind I/O Coin (IOC) cryptocurrency (I/O Digital Foundation) is all set for the upcoming launch of DIONS (Decentralized Input Output Name Server) BlockchainUpgrade. It is said to be in its final beta stage and will be the first major milestone in IOC’s second development roadmap.
IOC and DIONS date back to the days when Proof of Work (PoW) based Bitcoin was introduced following Satoshi Nakamoto’s whitepaper.
IOC has made a successful transition to unique PoS I/O after starting as an X11 PoWbased cryptocurrency. It has overtime absorbed the best of both PoW and PoS technologies.
The I/O Digital Blockchain has proven itself to be extremely energy efficient with block time of 1 minute – ten times faster than Bitcoin. Moreover, the I/O Digital development team’s DIONS upgrade helps to gain a distinct advantage over Bitcoinwith its fully AES 256 encrypted decentralized name server, messaging, data storage and a decentralized “GPGTOOLS” like system.
The DIONS Blockchain also enables identity storage, avatar creation and encrypted document storage capabilities that are transferable between users. All the features are readily hard coded into a user-friendly HTML5 wallet system.
The DIONS upgrade will be accompanied by a Skype-like decentralized end-to-end encrypted “chat” system with built in AES 256 encryption.
DIONS will also provide users an added layer of privacy by allowing for private creation of aliases and identity storage (so called ‘private aliases’ which can be made public at will by the user). And the transactions can be carried using both public and private usernames.
A hash value in an I/O transaction can serve as Proof of Existence for any digital file, with the timestamp of hash value serving as an immutable proof. Thus, allowing I/O Digital’s Blockchain to help manage intellectual property rights, certificates of authenticity and condition reports.
DIONS can prove to be a great opportunity for businesses interested in Blockchaintechnology and its services.