About IMSIMS or IMSCoin is a digital currency that enables instant payments to anyone, anywhere in the world. IMS uses peer-to-peer technology to operate with no central authority: managing transactions, issuing money are carried out collectively by the network. Assets are stored within IMS software wallets using unique private encrypted keys allowing for secure online/offline storage of funds. Holding IMS yields 8% interest per year, making IMS a great investment option to. IMS prides itself on being truly independent of political bureaucracy and corporate governance. IMS is not owned by anyone, it has successfully been running for 1 year plus now by the users and has become a secure and reliable platform for sending/receiving and storing funds. IMS is a "proof of work" / "Proof of stake" hybrid, Meaning IMS was mine able for a limited time only and now has switched to "Proof of stake". IMS is a long term project with lots of work to do. Adding a mobile wallet app to the network will help the network grow and make IMS even more convenient and is a planned feature for the system. Any donations to the project are mostly welcome and will help build IMS even further.
How it works
Balances - block chainThe block chain is a public ledger on which the entire network relies. All confirmed transactions are included in the block chain. This way, IMS wallets can calculate their spendable balance and new transactions can be verified to be spending IMS that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.
Transactions - private keysA transaction is a transfer of value between IMS wallets that gets included in the block chain. IMS wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining.
Processing - miningMining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being modified because doing so would invalidate all following blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively in the block chain. This way, no individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends. IMS Core is open source software. IMSCoin Has a total coin supply of 21212121 IMS coins. The First proof of work block contained 212121 IMS coins 1% of the total coin supply, this is also known as a premine. The decision to premine was made to help aid future developement plans. The premined coins will also be used for community bountys, promotional giveaways and competitions. 100000 IMS coins will be reserved for distribution via our faucet which will be made available after the release of our Android App & iOS App. (stay turned for further details)
Premined CoinsWe aim to be as transparent as possible. you can track the premined coins using the premine address 2Xh5W8C8o3LgLJqTwm3HpeoLB7SdiL6RCM