Cryptocurrencies are gradually gaining traction amongst investors due to the remarkable advantages that blockchain technology brings. Despite all the merits, these digital coins have a glaring shortcoming; long waiting times before transactions are verified. Hence, they are preferred by individuals who transact in voluminous amounts of cash. Furthermore, the number of people who have knowledge of crypto trading is still low. Essentially, these stumbling blocks are the factors impeding the phasing out of fiat currencies.
Ivyn is a blockchain-based ecosystem that aims to phase out traditional fiat money in favor of virtual currencies. The platform leverages its proprietary payment system, IvynPay, which allows users to choose the cryptocurrency they desire to pay with. Moreover, all members are granted access to the Ivyn mining farm, a platform through which they can mint cryptocurrencies on their own. Like IvynPay, the mining pool also supports multiple digital currencies.
The Ivyn Project
This project consist of two entities, the Ivyn Software Suite and the Ivyn Mining Farm
Ivyn Software Suite
As its name suggests, this is an agglomeration of software modules working together as a system and supporting a network of users, products and service providers. Notably, all the software is free of charge.
Ivyn Mining Farm
This is a modular data center that enables user to mine cryptocurrencies. The farm generates profits through Ethereum mining and leasing of hashing power.
The Role of IvynPay
As an integral part of the software suite, IvynPay oversee all payments made on the Ivyn ecosystem. The system uses a digital eWallet to manage currencies and provide other financial services as well. IvynPay is accessible on both desktop and mobile platforms, in the form of a portal and an application, respectively.
The Ivyn Platform
The Ivyn ecosystem is made up of a combination of web portals all of which feature an inbuilt IvynPay payment system. The components include;
- IvynShop –this is virtual marketplace where users can access products and services. It has an API and plugins that makes it compatible with popular CMS like Joomla and WordPress.
- IvynReferral – this is software module that crates a network marketing model.
- IvynAdvice – a platform where users can get professional consultancy and advisory services.
- IvynTrading – a module that enables members to access the crypto trading space.
- IvynEvent – this is an event management dashboard that can also publicize a function through the World Wide Web.
- IvynMeeting – this is an advanced online forum.
- IvynMining Cloud – software that allows user manage mining hashrates.
- IvynMining datacenter – this is the facility that has specialized mining hardware.
IVYN ICO Token
Ivyn will issue the IVYN token, a cryptocurrency utility based on the Ethereum blockchain. This coin will be used to pay for services and products within the Ivyn modules.
Ivyn will issue IVYN tokens in three phases, the presale, the ICO and the SCO. The total supply will be 4,800,000,000 IVYN, with the three phases each getting an equal share of 1,200,000,000. The remaining 25% will be allocated to the Ivyn team.
Distribution of Funds
The proceeds from the token sales will be distributed as follows:
- 35% – software development
- 35% – mining farm
- 15% – operations
- 5% – reserve
- 10% – marketing