The Dutch team behind cryptocurrency (I/O Digital Foundation) has announced they are in final beta and gearing up for the upcoming launch of DIONS (Decentralized Input Output Name Server) Blockchain upgrade.
“Think of Skype chat, but with a strong AES256 end to end built-in encryption all decentralized over Blockchain … this is coming out with DIONS.” said the I/O Digital development team in a press release.
It is the first major milestone in IOC’s second development roadmap following the successful completion of the previous one set during the platform’s initial launch. As a part of its initial development roadmap, the team had created a full featured HTML5 IOC wallet alternative to Bitcoin-based QT wallet. It was followed by IONS (semi-centralized domain names) and POS I/O – a Proof of Stake (PoS) volume controlled Blockchain upgrade.
“The potential user base for this is huge, we have built the Blockchain version of GPGTools and there will be no more centralized key servers needed, literally everything is decentralized […] Furthermore, nobody has been here before by ensuring the ability to protect individual freedoms through strongly encrypted communications and we’re tremendously excited,” they added.
“Users the world over can now safely and securely transmit photographic images, audio recordings, news reports or indeed any arbitrary data content across the world over Blockchain by using our Ecosystem.”
The origin of IOC and DIONS goes back to the days when Proof of Work (PoW) based Bitcoin was introduced following Satoshi Nakamoto’s whitepaper. The August 2012 paper by Scott Nadal and Sunny King on PoS based Peercoin cryptocurrency created yet another standard for digital currency platforms.
Started as an X11 PoW based cryptocurrency, IOC successfully made a transition to unique PoS I/O. The PoS based IOC used a volume controlled Blockchain, capable of instant transfers that received confirmations in less than 30 seconds. With block times of 1 minute, the I/O Digital Blockchain has proven itself to be extremely energy efficient and ten times faster than Bitcoin.
Considering Bitcoin’s lack of user-friendliness and privacy; risk of data bloat and centralized security breaches in Fintech. On December 2014, the I/O Digital development team proposed a major upgrade to the main IOC Blockchain called DIONS.
Its fully AES 256 encrypted decentralized name server, messaging, data storage and a decentralized “GPGTOOLS” like system offers a distinct advantage over Bitcoin. 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.
Encrypted Decentralized Messaging
DIONS will be accompanied by a Skype-like decentralized end-to-end encrypted “chat” system with built in AES 256 encryption. The chat feature will not only allow users to send encrypted private messages, but also provides an option to broadcast messages to a wider world. It offers an attractive option for third party developers intending to build a censorship resistant decentralized “Twitter-esque” micro-blogging service.
Decentralized Identity & Name Server System (Aliases)
The I/O Digital Blockchain DIONS, will allow users to store sensitive identity credentials ensuring a way for users to manage their reputation and control their data. The decentralized name system will be censorship resistant. DIONS which is part of the I/O Digital suite of tools enables the creation of arbitrary key / value pairs. Thus the I/O Digital Blockchain provides a decentralised DNS database. Names can right now, be referenced as domain records by using our own or even 3rd party APIs. There is no restriction on the form of our DIONS aliases, they can take any arbitrary form and be transferable between users. The DNS records may be for example A records, CNAME or MX records.
Their Blockchain provides a ready made DNS database upon which our own or even 3rd party APIs can be employed. (This can also reduce network traffic in terms of DNS queries) DIONS will allow for private creation of aliases and identity storage (so called ‘private aliases’ which can be made public at will by the user). A private alias will provide users an added layer of privacy at the time of creating an alias. In this way, users can create both public and private usernames with which transactions can take place. Combining a unique, memorable ID with their brand name to receive I/O Coin payments will be highly beneficial to individuals and business alike.
Businesses, as well as being able to make use of their own brand names, can now use unique human readable IDs to serve as a customer’s, invoice or reference numbers (e.g. HSBC:8008135). This provides a more familiar format for customers accustomed to the naming conventions of email or websites. It also allows businesses to benefit from vastly reduced fees and the robustness and easy auditability of a decentralized distributed database.
I/O Digital’s Blockchain also helps manage intellectual property rights, certificates of authenticity and condition reports. A hash value included 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. The data storage feature along with an arbitrary key allows users to input data within the HTML5 wallet either through keyboard or ‘File Upload’ option.
I/O Digital Ecosystem – Protecting Individual Freedoms In Blockchain
Our I/O Digital Ecosystem has the capability for encrypted communications approved by the NSA for levels up to “Top Secret”. It offers a unique feature in self-contained RSA public key cryptography over the Blockchain. The I/O Digital team has built the first RSA public key communications system with AES 256 fully integrated over the Blockchain for world-wide secure communications. Thus it can be viewed as a replacement for gpgtools (which has been widely used throughout the world for over 17 years), with the Blockchain * replacing * all central key servers, for a completely decentralized means of encrypted communication.
Developers through third party APIs could use DIONS to allow encrypt/decrypt, sign/verify and import keys from text selections, files, folders, images, audio for censorship free transmission across the worldwide network that I/O Digital already has become.
DIONS opens up great opportunities for businesses that can create their Proof of Concept around the I/O Digital Blockchain technology and figure out if Blockchain is interesting for their services. There is a bright future ahead for Blockchain development and services.
An award winning team
The I/O Digital Development team and IOC have won the public award in the Blockchain category of the Euro Fintech Awards. They have also made it to the finals of the Benzinga FinTech awards. I/O Digital was recently listed in the KPMG / H2 ventures FinTech top 100 as an Emerging Star.
The team of I/O Digital is highly experienced industry professionals who know how to get results, deal with technological challenges and secure a place in the Blockchain ecosystem with their technology.
I/O Digital’s ultimate goal is to have companies use their Blockchain technology to gain a competitive advantage by creating a synergy between services and operate with fewer costs while adding new services to their portfolio.
- Pulsar Venture Capital Holds ICO to Raise Money Using Blockchain - October 19, 2017
- Dash Expands Reach In Asia Through Cooperation With Rising Fintech Company QUOINE - October 19, 2017
- Hacken and Neuromation Partnership Launched to Stomp out Blockchain Cybercrime - October 19, 2017
- Playkey Brings in $1 Million in Pre-Sale Campaign and Welcomes Dillon Seo as VR Advisor - October 19, 2017
- SolarCoin Founders Introduce New Blockchain-Based Network for Global, Decentralized Energy Trading - October 19, 2017
- Kazakhstan’s Lendex.io plans ICO in early 2018 - October 19, 2017
- Swissborg – The Blockchain Era of Swiss Private Banking – Announced ICO - October 19, 2017
- Bank4YOU Group’s launches ICO end of October – Investors Call to Action - October 19, 2017
- Live Pre-sale of Trive: Fights Fake News Using Cryptocurrency and Crowdsourced Research - October 19, 2017
- A New Ozone Layer? Arcona Plans for Augmented Reality Layer to Cover Earth Surface in new AR project - October 19, 2017
- Cofound.it Introduces Seed Program for Early Blockchain Startups - October 19, 2017
- LOOMIA Announces Collaboration With Storj Labs, Introduces Smart Fabrics and Consumer Data to Blockchain Technology - October 19, 2017
- DECENT Launches Beta Release of DECENT GO, The First Decentralized Marketplace for Digital Content - October 19, 2017
- Orebits Corporation, Inc. Announces Orebits Pool, LLC and Orebits.AU Eco-System - October 19, 2017
- Pareto – the Peer to Peer Financial Content Marketplace Announces Token Sale - October 19, 2017
- Appsolutely Launches the LoyalPlatform, LoyalCoin and LoyalWallet; Using Blockchain to Usher in the New “Loyalty Economy” - October 19, 2017
- Eidoo Raises $27.9m In Successful ICO To Bridge The Cryptocurrency Gap And Open The World Of Digital Currencies To The Masses - October 19, 2017
- Malta-based RoboAdvisorCoin (RAC) Launches Token Sale for Robo-Advisor Dedicated to Cryptocurrencies and Digital Assets - October 19, 2017
- BLOCKv Announces the Availability of VEE Tokens Through Its Upcoming Token Generation Event – Open to Public on October 19, 2017 - October 19, 2017
- The Fundchain initiative starts again this year with new Research & Development roadmap for the investment fund industry - October 19, 2017
- Digital Cryptocurrency Vault DigiPulse Reaches $1 million in Token Sale - October 19, 2017
- Tickets Cloud Kicks off crypto.tickets ICO - October 19, 2017
- Ex-JP Morgan Vice President Dr Joseph Chen-Yu Wang Joins Ambrosus as Project Manager - October 19, 2017
- Russian Wood for Cryptocurrency – Timber! - October 19, 2017
- Proof Suite Announces Token Sale for Blockchain Platform Designed to Tokenize and Insure Real World Assets - October 19, 2017
- DataWallet Announces Blockchain-Based, Consumer-to-Business Data Exchange - October 19, 2017
- IEEE Releases Findings from First Detailed Study of Blockchain Adoption in the Pharmaceutical Enterprise - October 19, 2017
- Horizon State Launches Token Sale to Modernize Global Voting and Collaborative Decision Making - October 19, 2017
- Metaps Plans to Launch Time Marketplace ‘Timebank’ Token Sale on COMSA - October 19, 2017
- Lykke Vanuatu brings Binary.com tokens to Lykke Vanuatu Exchange - October 19, 2017
- After raising $15M in a pre-sale, BitClave is ramping up for its Nov 8 crowdsale, and its plans to redefine the search experience - October 19, 2017
- Kazakhstan Is About To Launch The First Cryptocurrency, Directly Backed By Fiat Money - October 19, 2017
- Positive.com launches to protect Initial Coin Offerings from cyber attack - October 19, 2017
- Latium Launches LATX Cryptocurrency Token Sale for Participation in AI-Based Tasking Platform - October 18, 2017
- IBM Announces Major Blockchain Solution to Speed Global Payments - October 18, 2017
- Launch of SMSCHAIN, a Blockchain-based SMS Gateway - October 18, 2017
- Streamr Concludes a 30 Million CHF Crowd Contribution Period to Build Decentralized Real-Time Data Economy - October 18, 2017
- Publica Building New eCommerce Platform for the Publishing Ecosystem – Token Sale Coming Soon - October 18, 2017
- BLOCKv Partners with Storj Labs to Provide Decentralized Storage Architecture and New Toolsets to Power Next Generation Digital Objects - October 18, 2017
- Coinme Announces the Start of the UpToken Sale Today With Over $40 Million USD in Pre-Registration Signups - October 18, 2017
- Blockbid Announces Launch Of ICO Backed By Multi-Cryptocurrency Trading Platform - October 18, 2017
- SportyFi – Decentralized Sports Investment Start-up Endorsed by Soccer Superstar Roberto Carlos - October 16, 2017
- Acronis Joins Runa Capital and Parallels In Accelerating Innovation and Supporting Blockchain Initiatives in Malta - October 16, 2017
- Jaxx Allows First Crowdsale Participation with STORM Token - October 16, 2017
- Hyperledger Knits New Project – Hyperledger Quilt - October 16, 2017
- Legolas Exchange Partners With BanQix to Protect Institutional Investors - October 16, 2017
- MARK.SPACE Announces Launch Of Blockchain-powered VR-platform With Upcoming Token Crowdsale - October 16, 2017
- IRTI Partners With Ateon And Settlemint To Develop Blockchain-based Products For Financial Inclusion - October 16, 2017
- Golden Alliance Coin Announces ICO – For Mining Gold - October 16, 2017
- Media Aggregator Esports Gold Announces $5 Million Ethereum Token Sale - October 16, 2017