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How Much Has Ionomy Evolved?

The gaming industry is experiencing a surge in blockchain-based gaming platforms like Ionomy. However, there are certain features that set Ionomy apart from other gaming platforms.

Written by: Ifeanyi

October 14, 2018

Ionomy is a blockchain powered gaming ecosystem which allows gamers access gaming products with the ION token. Unlike the majority of gaming platforms, Ionomy utilizes the static proof-of-stake verification and reward mechanism.  In addition, the platform rewards its users with the “connectivity age” model.

This is a stark contrast to the “coinage” model utilized by other platforms. As such, the network’s reward model centers on the contributions of users to the network. The development team believes that this model will promote the participation of users on the network.

What Is Static Proof-Of-Stake?

The concept of static proof-of-stake is similar to the popular proof-of-stake mechanism, however, the reward is static. As such, the reward remains the same and it is fixed at 50 percent of rewards on each block. As earlier mentioned, the block reward will be distributed to users based on their contribution to the network.

This could eliminate the concentration of tokens and the emergence of centralized figures on the network. Other features of the Ionomy ecosystem include:

  • The platform has a user-friendly interface
  • Users can by-pass crypto exchanges by buying ION directly from the platform.
  • Users can exchange altcoins like Dash, Ether classic, Storj, and Gnosis to IONs.

In order to keep the network unique and competitive, the development team has added the following functionalities:

  • The platform has games that reward gamers.
  • The platform sets up a weekly tournament where users compete to win rewards.
  • There is a 50% discount on all purchases with the ION token.
  • The platform features a PWR-GRD that allows game developers to earn while tweaking their games.
  • The platform also has a community where users can review gaming apps.

Also Read: Is Gaming Driving the Cryptocurrency Mass Adoption?

The ION Token

The ION token is the native token of the IONomy ecosystem, as such, it facilitates all the transactIONs carried out within the network. ION has a total supply of 55 millION IONs and there are 27,473,825 IONs presently in circulatION.

As at press time, the price of the coin is $0.651080 USD which is a 2.6 percent rise from last week’s price. In January ION’s price hit its all-time high of $6.66. As such, the coin has recorded a 90.1% plunge since the beginning of the year. This mirrors the persistent struggle of the crypto market.

The Crypto Community and ION

It is a well-known fact the crypto community plays a major role in the success of a coin. The community has been a bit skeptical of the functionalities and performance of Ionomy platform. Majority of the reviews on Bitcointalk claim that the platform does not have quality games. As such, the major selling point of the platform is its reward functionalities.

Final Thoughts

Ionomy’s ICO came under a lot of scrutiny and backlash, however, the development team has put in work to change the community’s sentiment. The platform boasts of innovative features and structures, and a fantastic reward model. However, the icing on the cake will be the development of quality gaming apps. These will majorly contribute to the growth and viability of the platform.

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Image Courtesy- Cryptocoindude, laserquill, twimg, masternode.

Ifeanyi

Ifeanyi Egede is an experienced and versatile blockchain/crypto writer and researcher on with tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids. Learn more about how Ifeanyi Egede could be of help to your business.

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