Iagon (IAG), a project launched to combine the benefits of AI and the blockchain in an ambitious vision allowing shared resources, storage, and processing capability has successfully hit another milestone over the past week.
The team have just released an updated and improved Iagon (IAG) miner application – version 2.1.3.
Within this update, they have included the following enhanced functionality:
Added Subscription Module to buy contracts, view past contract details for storage and processing.
Updated IAGON Drive for file upload, delete, and distribution to workers/miners
Improved performance for getting provider list.
Added ticket topics in support pages.
Added Notification Panel to view application status.
Additionally, there have been several minor UI and layout issues that have been fixed, along with improvements made to the overall performance.
With this improved application version, it has improved the capability for users to locate their primary features from the account’s dashboard, including access to sections like Resource Allocation, Earnings, Cloud Score and current Mining Calendar.
The Iagon project seeks to provide a number of use cases that fit within the overall vision of distributed processing and storage. These use cases are serviced, in the large part, from miners who, in turn, benefit from the provision of these services.
One of the most common methods that other tokens use is Proof of Work or Proof of Stake, which is a mechanism that rewards a particular miner for discovering a particular block. IAGON decided to take a different and better approach by using a “Proof of Variance” mechanism.
The Proof of Variance essentially classifies each miner based on their contribution into a pool, this approach allows miners within the same pool to compete with each other. Miners from lower pools get upgraded or downgraded based on several factors but the two main factors are speed and amount of data that they are able to handle. This mechanism uses a combination of algebraic theory and probability functions to compute a miners contribution and determine which pool they can be classified under. This allows newer miners to profit from mining data while increasing their processing assets.
As block tasks are distributed to miners, they need to match the data signature from the data input and find its corresponding data object in the block to return the data output. They do not need to store any of the data they process, though once it is validated to belong to the specific block, the miner is considered to have mined the block and receives incentives for it.
Some of the additional benefits are:
IAGON provides miners with complete flexibility and freedom of choice in providing and consuming decentralized cloud services.
Miners can choose either Ethereum or Tangle to fully secure and store their files, process computational tasks, pay and receive IAGON tokens for cloud services.
IAGON benefits the miners who provide processing power and storage space to the grid without requiring efforts when their servers and computers are not used by them.
Blocks are distributed evenly to miners by utilizing proof of variance and does not store any of the data within their local systems. This allows data to be processed anonymously without being able to identify any single node individually.
Miners are incentivized to process the data quickly to earn rewards.
Miners receive incentives based upon the number of processes they perform. In other words, the more data they process the bigger the incentives.
IAGON has already developed and released its beta version (MVP) of the storage grid and the miner’s application. The storage grid supports the upload of files, their encryption via SHA256 and the Blockchain, the distribution of file shards between miners and the secure retrieval of files stored on multiple nodes by the user.
Further information about the project can be found at the Iagon website (https://iagon.com/#).
Current Trading information can be found at the Panxora exchange (https://panxora.io)