ILCoin revolutionized on-chain data storage with its new technology called RIFT.
The next-generation protocol RIFT allows on-chain data storage, which isn’t possible due to the limited scalability of blockchain solutions. Normally, blockchains are stored in small-sized data chunks because large amounts of data cannot fit in. What ILCoin did was developed a protocol that would make this possible.
Two challenges hindered ILCoin in the project; first, operating a massive amount of data on-chain is costly, and second, scaling capabilities is very limited. What happens is, if a large amount of data will be stored to on-chain storage, transactions will become slow and cost will be higher.
RIFT Protocol stood fine with the help of a two-layer architecture that stabilizes a large chunk of data in the on-chain storage. The standard mineable blocks and mini-blocks promote an advanced parallel sync process, which synchronizes the sequence of data. Therefore, larger blocks are not in the way of smaller ones, which boosts the network speed.
ILCoin tested RIFT with 5GB blocks and process 23,140,987 data with a weight of 232 bytes. Since November, the blocks are reportedly live and running.
According to experts, RIFT is the first of its kind and helps decentralize storage solutions. The technology has enough potential for service users in different industries if developed over the years.
According to ILCoin executive manager Norbert Goffa, “RIFT protocol disrupts the very concept of blockchain; mainly with the idea that simultaneously asynchronization is, in fact, technically possible. With RIFT, we are able to solve both the FIFO and the bottleneck problems and manage large blocks at unprecedented speed.”
RIFT first entered the market back in 2015, introducing ILC cryptocurrency. Today, the technology focuses on pressing problems of the industry, including blockchain usability and having enough storage.
It was last November when ILCoin released the RIFT Protocol, which aims to resolve scalability issues in the on-chain data storage.
Some of the best features developed for the RIFT include enhanced security and convenient network access. Because RIFT decentralizes data storage, records are kept in a secure network. Since by nature, blockchain is almost impossible to delete, the three-node system will protect the data from breach and attacks.
The RIFT Protocol also supports borderless transactions for all users, without geographical restrictions. For high-speed transactions, RIFT uses advanced parallel sync process to manage large files without any delays.
ILCoin is also developing other projects including the Decentralized Cloud Blockchain platform.