What is Ice Network?
Ice Network is a decentralized blockchain platform designed for scalability and privacy. It aims to address challenges like data privacy, and content ownership in the digital world by building a future where digital interactions are secure, transparent, and controlled by the people.
History of Ice Network and its ties to The Open Network
If you find Ice Network's commitment to decentralization similar to The Open Network's vision, that's because it's a fork of the TON blockchain. By choosing to run on the TON blockchain, Ice Open Network is capable of the same scalability feats that the TON blockchain is known for.
While the team behind ION acknowledges that TON has plenty of strengths like scalable architecture and robust smart contract capabilities, they proposed a TON fork. The fork intended to capitalize on opportunities to introduce a whole ecosystem worth of features to improve the blockchain's value proposition. These include IceID, IceConnect, IceNet, IceVault, and IceQuery, all of which we'll be covering in this ION guide.
How does ICE mining work: earning ICE tokens from your smartphone
Forget the days of crypto mining rigs humming away in your basement — Ice Network puts the power of earning directly in your pocket with the Ice Network app. By running the app on your phone, you contribute to the Ice Network's computational power, which helps with validating transactions and securing the ION blockchain. In return, you're rewarded with ICE tokens, the native currency of Ice Network.
The hardest part about getting started with mining ICE tokens is getting an invite. Existing Ice Network members can send out a referral code to their friends to download the Ice Network app. After passing the Know Your Customer verification process, you're free to begin mining and claiming your ICE tokens. Every 24 hours, ICE miners need to tap the 'Ice' button on their mobile device to begin mining ICE during a daily session. To incentivize group mining efforts, users can mine with friends to earn a 25% bonus mining rate during their daily session if both users check in at the same time.
According to the Ice Network team, mining rates start at 16 ICE an hour. An ICE halving will then take place, which makes it twice as difficult to mine ICE over time. Check out the table below to find out when the ICE halvings will take place, which will help to enhance the predictability of ICE's distribution and overall supply.
