Recently, the author of this article unexpectedly received a highly technical document – the white paper of the International Convergence Consumption (ICC). The whole white paper is basically about technology, and here we will analyze it with you.
Like the other white papers, the ICC white paper also introduced the project overview and vision first, described the relevant technologies, architecture, and core, and finally described the application and currency issuance plan, which seemed unremarkable. However, when we look carefully, the International Convergence Consumption Blockchain (ICC) is clearly a new generation of the integrated enhancement of VEN and WICC.
First of all, the objectives of the three blockchain projects are very clear from the pursuit of goals. VEN, who has been working in the field of cryptographic digital currency for nearly three years, aims to build a global business ecology of information interconnection. On the other hand, the main application of WICC is blockchain, which aims to solve the pain points of traditional industries by utilizing the characteristics of the blockchain, and to truly implement blockchain technology. While the International Convergence Consumption Blockchain (ICC) hopes to build a trusted distributed business ecosystem that not only can self-circulate but can also expand outwards. By establishing the track traceability system based on the blockchain cloud platform, it can improve the reputation mechanisms and applications based on the blockchain. Isn’t the comprehensive strengthening of VEN with WICC the best among them?
So what sustains the International Convergence Consumption Blockchain (ICC) to set such ambitious goals and move forward? This is a good example that blockchain a worthy reference, and the author has sorted this for this.
First, strong technical safeguards:
1. ICC uses a unified ID to identify the object and the data after the hash is protected and is associated with the ID to create the object data corresponding to the ID, and is combined with the internet of things technology to achieve the target digitization.
2. ICC has created a new “master node network”. The master node can only be joined by a certain amount of deposits, and the reward can be determined by consensus calculation to reduce price fluctuations. The security and efficiency can be guaranteed by a series of expansion protocols and untrusted Quorum.
3. In terms of anonymity, ICC has improved and extended CoinJoin (a hybrid technology of anonymous technology) and developed Darksend. Other than having the core concept of CoinJoin, it is also strengthened in such aspects as decentralization, strong anonymity with links, same value, and passive advanced mixed currency technology. It solves the problem of tracking the flow of funds through the account, enhances the protection of the relay link and DOS attack, as well as using a relay system to cover the main node.
4. The ICC uses InstantX for instant transactions to ensure point-to-point transactions without central authority interference.
Of course, like VEN and WICC, these three projects all face severe challenges in the era of the internet of things. For example, traditional attack technology destroying the equipment of the Internet of things arbitrarily, and the high cost of centralized architecture costs. In order to cope with these problems, VEN gradually developed four modules according to the actual demand of the market and users: VAC anti-counterfeiting module, VAM asset management module, VSC supply chain management module, and VCE consumption experience module. The International Convergence Consumption Blockchain (ICC) still relies on technology, while the WICC is committed to decentralizing its accounts.
It is not hard to see from the ICC white paper, the founding team wants to change the world by consensus through the blockchain trust machine. Other than the basic applications of “zero-knowledge proof”, the founding team has taken the high-speed asynchronous blockchain technology, which makes the unit of bookkeeping more granular, and the DAG is accelerated by the interrelationship of the nodes. The more transactions you make across the network, the more wallets you have and the more change you can sustain. Last but not least, ICC also adopts SPV (Simple Payment Verification) technology to conduct payment verification without retaining the complete blockchain information, as long as the block title is retained.
As a matter of fact, no blockchain can really survive by the concept of speculation. In the end, what will survive will be projects like VEN and ICC that continuously invest the cost into technology and truly implement projects. Whether it’s VEN or the ICC, it’s good enough for the market to be a good blockchain, even if it’s not a challenge to the mainstream digital currency at the moment, but we have to look at the potential of it, and it should be important to the project that really perfected the blockchain to use small coins to move the world.