What is IViN?
IViN is a Social network with virtual reality function. The social network IViN will be used a decentralized payment system that uses the same name unit for accounting operations and the same name data transfer Protocol. Cryptographic methods are used to ensure the functioning and protection of the system.
The electronic payment between the two parties takes place without intermediaries and is irreversible — there is no mechanism to cancel the confirmed transaction (including cases when the payment was sent to the wrong address or when the transaction was signed with a private key that became known to other persons). The transaction fee is fixed.
The work of the system will be based on the technology of Proof-of-stake – a method of protection in crypto-currencies, in which the probability of forming a participant of the next block in the blockchain is proportional to the share that the units of this crypto-currency belonging to this participant are from their total number.