Bitcoin was the very first blockchain technology that revolutionized the peer-to-peer connection in the world of financial transactions. The essence of the decentralized approach is the lack of centralized power behind the system. Even though the merits of Bitcoin are indisputable, we have to realize that Bitcoin is unable to provide solutions to the technological challenges that the possibilities of the blockchain bring along. However, it is safe to say that Bitcoin - as a decentralized currency - has a value that is the most widespread system alongside traditional money.
ILCoin is the first project in the world that has solved the problem of scalability on an on-chain basis. Thanks to the RIFT protocol, block size increase has got achieved that also resulted in the resolution of bottleneck and FIFO problems. This achievement has made ILCoin the fastest system in the world, outperforming the ones of VISA and Mastercard, too. The technology of ILCoin is built on a decentralized hybrid system whose basis is the self-developed Command Chain Protocol. C2P is one of the most significant blockchain developments of 2019 that has got audited by Palo Alto Networks Partner. The main objective of ILCoin is the creation of a decentralized cloud-based on-chain data storage system that allows data to be stored within the blockchain. This development can help the project become the world’s leading blockchain technology in the upcoming years.
Ethereum got into the history book of technological innovations by being the first successful ICO. The popularity of the system – created by Vitalik Buterin – inspired people to start engaging in the development of blockchain technology, which also resulted in giant corporations such as IBM, Microsoft, DELL, and SAP starting their own developments. The importance of Ethereum’s smart contract is unquestionable, but it is also evident that it still couldn’t move on from the speculative use of tokenization.
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