The IZC Blockchain

Network Overview and Key Metrics

IZC is the decentralized EVM-compatible public blockchain that powers the IZC platform and ecosystem. It is fully compatible with Ethereum meaning that any smart contract that can be deployed on the latter can also run on top of IZC.

The IZC blockchain uses a variant of delegated Proof of Stake (dPoS) for achieving consensus. The consensus is secured by a significant number of independent validators, only one of which is run by the IZC core team.

Validators are also responsible for the most important type of governance on IZC, namely, adopting the network protocol changes via IZC Improvement Proposals (EIPs)

The native token of the network is called IZC. New IZC tokens are issued with every added block and are also used to pay for gas, just like BNB on BSC.

The IZC blockchain is designed to ensure fast block confirmation times and a low cost of transactions. The average block interval on IZC is around 5 seconds, and it currently costs much less than 0.5% to get a transaction confirmed.

In its present capacity, the IZC blockchain is capable of processing around 200,000 native token transfers and IRC20 token transfers per second. The faster processing of native token transfers is due to the fact that they do not involve computations run on the network's virtual machine.