IMS or IMS coin is among popular currency that adopts a peer-to-peer technology and with no central authority. The payment and management of the crypt
IMS or IMS coin is among popular currency that adopts a peer-to-peer technology and with no central authority. The payment and management of the cryptocurrency are done collectively in the network. The IMS software included a wallet that uses private encrypted keys and allows users to store the user to store and access their funds both online and offline. With IMs, you can make a fixed deposit for at least one year and earn an 8% interest per year.
The IMS coin is independent of both corporate governance and political bureaucracy as it not owns by anyone and is managed collectively by the users. For over one year now, users have been running the cryptocurrency system without any problem and have risen to become the most reliable and secure payment platform for sending, receiving as well as storing funds.
IMS coin was the only mine for a limited time and is now “proof of work.” It is a long-term project with a lot of applications. It includes a mobile wallet application, which allows you to access it through your smartphone, making it more convenient.
- Block Chain
The entire system relies on a peer to peer network call blockchain. All transactions are recorded on the blockchain. The blockchain verifies the transaction and calculates spendable balances in the account. Transactions are verified first before they are spent by a blockchain user. The cryptocurrency enforces the chronological order as well as integrity.
- Private Keys
IMS wallet is designed to private keys in the wallet during the transaction. This private key is also called seeds and is mainly used to sign the transaction, and provide proof that the transaction was made by the owner of the wallet. The signature ensures that transaction in the cryptocurrency is always safe as they cannot be altered. Transactions are broadcast between users and confirmed after ten minutes in a process called mining.
The cryptocurrency is mined through a distributed consensus system. Mining adopt chronological order in the blockchain, which helps to protect the neutrality of the network as it allows computers in the system to agree on the state of the system. All transactions are contained in a block that meets strict cryptocurrency rules. The rules ensure security and prevent the previous block from being modified as any modification of previous blocks would automatically invalidate future blocks. Mining also prevents individual users from adding more than one block consecutively and create an equivalent of a very competitive lottery. This prevents individuals from replacing part of blockchain or rolling back what they have already spent.
IMS coin is open source cryptocurrency software that has gained a lot of market shares in the recent past. The cryptocurrency features a total of 21212121 IMS coins. The first proof of work block also referred as primine, features a total of 212121 IMs coins, which is 1% of the total IMS market supply.
The primine is dedicated to helping aid in future development plans as well as aids in promotional competitions and giveaways. Up to 100000 has been reserved for distribution through IMS faucet wallet that will be available after the release of iOs and Android applications.