Blockchain News

Ice Network: Phase 1 Progress, Max Coins Supply, and the Dedicated Team behind the Protocol

Despite opting for anonymity, the dedicated team emphasizes transparency and commitment to their open-source product. As they prepare to unveil the testnet and subsequent phases, Ice Network's promising start in the industry sets the stage for a lasting impact in the decentralized landscape.

ICE Network Kickstarts Phase 1 Development 

After a brief delay in its official launch, Ice Network has finally opened its doors to users, allowing them to mine its native ICE tokens. This cutting-edge protocol, accessible via Android and the web lite version for IOS users, has made impressive strides in its Phase 1 development.

Celebrating a remarkable milestone, Ice Network has garnered over 1,000,000 users in the crypto industry. Phase 1 commencement, two weeks ago, has already yielded positive improvements in the crypto space, particularly about the innovative halving event.

The concept of halving involves a reduction in the mining rate, starting at a base mining rate of 16 ice tokens per hour. The reward is then halved based on the average daily active miners over the past seven days, creating a dynamic and engaging mining environment.

To keep users well-informed, Ice Network recently used its Twitter platform to share details about the second halving event. The community well-received this move, fostering transparency and trust within the network.

Explaining Phase 1 Plans: Whitepaper and Upcoming Testnet and 

Phase 1 of the protocol has generated curiosity among users, eager to learn more about the roadmap for future plans, including the completion of Phase 2, which marks the launch of the mainnet. Although the roadmap for these phases is yet to be revealed, the team has actively engaged with the community on Twitter, addressing questions and concerns raised by users.

An exciting revelation came from the core team, indicating that the testnet would be unveiled during Phase 1. This unveiling will bring Decentralized Applications (dApps) with top utilities to enrich the Ice Network's ecosystem. 

Additionally, the team confirmed that, unlike the Pi Network, Ice Network will not operate on a closed mainnet system. Instead, they have set a firm date for the mainnet launch – October 7, 2024.

The roadmap and Whitepaper will be disclosed once the testnet is live, aligning with the team's commitment to delivering timely updates and maintaining open communication with the community.

Information on Max Supply 

One intriguing aspect of the Ice Network lies in its unique approach to determining the total supply of ICE coins. Influenced by factors such as the number of registered users, active miners, and various events like halving, bonuses, and slashing, the exact total supply will be determined once Phase 1 is completed.

Notably, the protocol employs a slashing mechanism, which can reduce the coin balance of users who are not actively participating. This feature adds an element of dynamism and challenges the ability to predict the total supply of ICE coins after Phase 1, as it heavily relies on user activity levels.

Anticipating the community's curiosity, the team has promised to share a comprehensive report detailing the number of coins and pre-staking allocation for the current mining period after the Friday halving event. This report aims to foster trust and transparency while informing the users about their network contributions.

Team’s Preference to Remain Private 

Behind the scenes, the dedicated team working on the Ice Network has opted to remain private. Their decision is driven by the unique nature of the crypto world, which demands a cautious approach to safeguarding their safety and that of their families. 

Despite their anonymity, the team takes pride in developing open-source products. It emphasizes that they are not involved in selling coins, soliciting money from users, or engaging in data-selling practices.

Furthermore, the team has explicitly stated that they will not entertain trolls or non-productive discussions detrimental to the project. Emphasizing the importance of constructive engagement, they invite users who share their vision and values to be part of the thriving Ice Network community.

Promising Start in the Industry 

Ice Network's Phase 1 has set the stage for a promising future in the crypto space. With a rapidly growing user base, innovative halving events, and a commitment to openness and transparency, the protocol appears poised to make a lasting impact in the decentralized landscape. 

As the team works diligently to achieve its goals, users eagerly await the unveiling of the testnet and the subsequent phases, all while building a community rooted in trust, dedication, and shared vision.

What is Ice Network: 

Ice is a decentralized network with a digital currency that users can mine for free with their mobile phones. The protocol is controlled by a DAO, allowing users to have a say in what is being developed. 

Users can join the ice network via an invitation from an existing member to start earning & building their own micro-communities immediately.

Where to find Ice Network: 

Website | Twitter | Telegram 

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