RIFT-Protocol Could Also Solve the Problems of Bitcoin

The use of sophisticated hacking techniques is not a new occurrence in the blockchain ecosystem. New technologies such as cryptocurrencies and blockchain have new challenges that must be constantly overcome.

ILCoin’s RIFT protocol represents the next step towards a truly decentralized future, addressing each of these challenges through a unique approach to blockchain technology. By reforging the way blockchain networks secure blocks and store information, RIFT unshackles blockchain technology and establishes a foundation for the next generation of decentralized platforms.

RIFT is a protocol designed to create infinite blockchain opportunities. RIFT not only provides extended use cases and functionality for cryptocurrency applications but also establishes a system that blends blockchain technology with daily life. RIFT’s “next version of the blockchain” allows the platform to minimize security risks while solving important issues such as cost, scalability, speed, privacy and storing data on the chain.

Using the RIFT communication protocol, blockchain networks are able to dramatically speed up transaction times and securely store data on-chain through a unique “nested” block structure. Data protection within the RIFT protocol is guaranteed, as all transmitted or stored data is fully encrypted.

RIFT’s major breakthrough is the use of “Mini-Blocks” to store large amounts of data on-chain. Each RIFT Mini-Block size is set at 25MB, which are contained in Blocks on the Block layer. ILCoin development team has tested extensively with a block size of 1.5 GB and recently they successfully tested block size of 5 GB as well.

Through the RIFT protocol, synchronization is performed in an asynchronous manner, via a Mini-Block. Mini-Blocks have a hash reference to other Mini-Blocks. This communication structure allows nodes to synchronize with each other in a decentralized manner. The RIFT protocol fundamentally alters the way blockchain networks manage data, enabling an integrated chain-based data storage solution.