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Fair Launch July 24, 2014
Max. Block Size
Max Data Per Block
~Variable 60 to 15 seconds
1.5 IOC per block + transaction fees
Number Of POW Coins
1 Year Inflation per 60 sec Blocks
30 Year Max Supply per Constant 60 sec Blocks
30 Year Max Supply per Constant 15 sec Blocks
After years of PoS proof-of-concept testing and blockchain penetration testing, the I/O Coin development team, lead by its founder Joel Bosh, devised a unique approach to Proof-of-Stake and they started working on I/O Coin. The team opted for a Fair Launch which meant that there would be no ICO and that there would be no coins reserved for the development team. To ensure fair distribution, I/O Coin was launched via X11 Proof-of-Work mining and after 12815 blocks (14 days) the blockchain successfully transitioned to its unique Proof-of-Stake mechanism. The Genesis Block was mined on July 23rd 2014 and for the first 30 blocks the mining reward was 625 IOC, after which the block reward was doubled to 1250 IOC per block, totalling to exactly 16 million PoW I/O Coins. To keep the launch of I/O Coin fair, the dev team did not participate in the mining period.
Since then and over the las 6 years, the development team managed to add several features to the I/O Coin blockchain code without the need of any smart contracts and thus maintaining the high level of security and privacy. Some of these features are:
DIONS (an alias "DNS" system which can be used instead of the long hex addresses)
Encrypted AES 256 Single Messaging
Encrypted AES 256 Group Messaging
RSA Key Exchange via Encrypted Tunnels
Encrypted 1MB File Storage & Transfer
The team is currently working on the development of I/O Coin's very own Abstract Smart Contract platform and upcoming side entropy based graph ledger Chameleon
IOC DEV TEAM Bitcoin Conference Keynote
IOC DEV TEAM Bitcoin Conference internview