The cryptocurrency sector has undergone a seismic shift in recent years as retail investors and publicly listed companies make their way into the space. Globally, estimates suggest that the number of crypto users surged by about 190% between 2018 and 2020. Record-breaking inflows into the market have also taken the number of active addresses on the Bitcoin network, as well as trading volumes, to all-time highs this year. On the face of it, all of this should be cause for celebration — and it is. But here’s the problem: While Bitcoin’s network is enjoying a surge in demand, it could …

A blockchain-powered VR game has launched on Steam for the first time — and now, developers are hoping to win a prestigious award. Age of ILCOIN is set in a futuristic sci-fi world, and the player’s mission is to protect their cryptocurrency from space alien pirates. The game, which uses the Oculus Rift VR headset, offers an immersive, 360-degree experience, with blockchain technology adding another dimension to in-game purchases. It was developed by SYDYG, the owner of ILCOIN, and there are ambitious plans to roll out the game to additional platforms — including the Oculus app store — in the …

What factors contribute to transaction fee sizes? The two main factors affecting fees are the size of a transaction, and demand for block space. Given that some networks can only contain a limited amount of data in each block, miners or validators are restricted on the number of transactions they can include. When there are many users sending crypto funds simultaneously, demand for block space increases, and there are more transactions waiting for confirmation. Sometimes, demand for block space can get so high that networks experience congestion, and fees surge to unsustainable levels. Larger transactions require more space in the …

The debate is not settled. Despite much of the great work being done, there is no one clear solution for blockchain scaling, and it’s possible there never will be. All of the possibilities explored above stand to help bring digital assets onto a global stage, but none of them are the final say yet. As we have discussed, there are pros and cons for each, and it isn’t implausible that there simply won’t be a single winner. Different projects with unique goals may need to scale in different ways. It is even plausible that more than one of these ideas …

Most people in the cryptocurrency world are aware that network validation often comes in one of two forms: proof-of-work or proof-of-stake. There are others, but these systems are common and power many of the most popular blockchains. They take the same basic problem — verifying transactions — and solve it in unique ways. However, both offer different solutions to the ongoing debate over scaling. Does one have a true advantage over the other, or are they just different philosophies? We’ll take a look at both. Proof-of-work, explained Most people have heard of Bitcoin (BTC) “miners,” but just what do they …

A company says its blockchain network offers the world’s largest block size of 5 gigabytes, having been certified by Palo Alto Networks Partner. The verification of this block size followed successful testing on a live blockchain network. ILCoin notes this was made possible thanks to the routing in fat trees protocol, known as RIFT, which enabled the block size to increase without having a negative impact on transaction speeds. Crypto enthusiasts are also being given the opportunity to verify the 5 GB block for themselves via the ILCoin Block Explorer, under number 310280. At a time when major blockchains like …

Cloud servers are able to keep a full record of our lives, storing literally everything from personal photos and videos from our smartphones to work documents. At first glance, this solution makes our lives easier, but some unexpected threats can be found under a shell of comfort and extensive customer care. Although centralized data storage has its own benefits — higher speed and availability, quick throughput and low latency — it all comes at a cost. Big cloud storage companies such as Google and Amazon that dominate the industry are often suspected of cooperating with the authorities and giving them …

A crypto platform has announced the launch of the first decentralized application (DApp) on its blockchain. ILCoin says its debut DApp, created on the SHA-256 blockchain, is a game called AGE of ILC — a tower defense game in which players have to obstruct strangers and stop them from stealing their treasure. The game’s developers say their title has been designed to have an old-school, retro look like in the 1980s and 1990s. AGE of ILC will initially be made available on Google Play in the middle of July, and work is already under way to bring the game to …

Crypto platform ILCoin says it is developing a “modern alternative to bitcoin” without scalability issues by using “pioneering technology” called command chain protocol (C2P). The protocol of C2P, created by ILCoin, is supposed to solve the main problem of the Bitcoin blockchain — the lack of scalability — by enlarging the block size. The startup says that it has already managed to increase its limit to 25 MB. This enables its users to have a higher transaction amount: Instead of the current maximum for Bitcoin of seven transactions per second, the team says they hit 170.000 transactions per block or …

A crypto platform says “pioneering technology” known as command chain protocol (C2P) is going to be instrumental in ensuring the industry is protected with strong security in the future. ILCoin says C2P was designed to prevent 51% attacks — one of the biggest risks that cryptocurrencies face today. This is when malicious actors acquire the majority of the computing power in a network, create a new chain and potentially double spend funds. As reported by Cointelegraph, Ethereum Classic fell victim to such an incident back in January. In its white paper, ILCoin says this protocol consists of a “set of …