What is Ice Network (ICE)? Launch Date, Future, Working, Price and More

Key Highlights

• ICE Network (ICE) price is $0.006679 as of January 31, 2024, with a market cap of $7.08 million.

• Ice Network's launch date is July 07, 2023. However, it started officially being listed on various exchanges from January 19, 2024.

• ICE tokens can be mined through mobile devices.

• Snowman (SNOW) is the first memecoin of Ice Network to embrace the unifying spirit of its community.

As the winter chill settles across most countries, a new cryptocurrency project is creating a frosty thrill in the crypto space, just like its name suggests. Ice Network is the new hot potato among crypto investors, which is in the limelight for its handy mining process, crazy following, and strong vision of a decentralized future.

Being one of the newest crypto projects in the market, investors have a mind full of questions about it, especially regarding Ice network price and launch date. To answer those questions, we have created this blog that compiles all the information about Ice Network in a simplified and well-organized format.

What is Ice Network (ICE)?

Ice Network is a blockchain network developed to solve the existing challenges of centralized digital environments, such as privacy threats and data ownership issues. It claims that the Internet's centralized nature limits users' control, which is problematic for their data privacy, ownership, and autonomy.

Ice Network, also known as Ice Open Network (ION), works to redirect the existing digital landscape into a user-driven ecosystem to solve this restricted digital sovereignty. It wants to give its users unwavering control and ownership of their data, content and identity.

In technical terms, Ice Network (Ice Open Network) is a fork of the TON blockchain. However, it has some impressive extra features compared to the TON blockchain for enhanced capabilities and additional values.

These features are as follows:

IceID (Decentralized Digital Identity)

It is a decentralized digital identity service of the Ice network, allowing its dApps to verify their users while ensuring the security and privacy of their personal data. In this user-centric identification system, users can decide which dApp can access their data under what conditions and for what purpose. Since this service has all verified and trusted identities, it also enables dApps associated with Ice Network to tackle real-world use cases such as property ownership and transfers more effectively.

IceConnect (Decentralized Social Media)

All the popular social media platforms are centralized. That means they store data on corporate servers, making it susceptible to breaches and unauthorized access. They also constantly monitor users' activities and preferences for invasive advertising, which challenges the essence of users' privacy and freedom.

To solve these problems, Ice Network has IceConnect, a decentralized social media feature that lets users be the rightful custodians of their data. The users own their data and enjoy complete authority over its accessibility. This framework eliminates a single controlling entity, ensuring that all narratives and voices can access the limelight without fearing censorship.

IceNet (Decentralized Proxy & Content Delivery Network)

IceNet is a native extension designed by Ice Open Network to give users secure, fast and barrier-free access to content by introducing decentralized content distribution pathways. The community members of the Ice network run nodes to operate such a flow and get incentives for the traffic they pass through their nodes. Any Ice network participant with a server, a minimum network capacity of 100Mb, 2 CPU cores, 4GB RAM and 80GB on SSD/NVMe drive can run these nodes. The network removes any node that underperforms or slows down due to any reason to maintain a seamless content delivery flow for the end users.

IceVault (Decentralized File Storage)

IceVault is a decentralized file storage feature in the Ice Network. This storage takes its inspiration from TON storage, which fragments files into encrypted shards and then distributes them across the network of nodes. IceVault uses the same approach but with enhanced quantum-resistant cryptography that provides security against advanced futuristic machines like quantum computers. Through it, IceVault ensures that the data remains secure for the present and foreseeable future.

IceQuery (Decentralized Database Solution)

All the traditional databases we use today are inherently centralized, with many risks and challenges related to a single point of failure. Ice Network provides a tamper-proof database system, IceQuery, as a decentralised solution. Like IceVault and IceNet, community nodes run this decentralized database solution and ensure that the transactions stored are immutable and verifiable. It uses distributed ledger technology for this purpose.

Another key component in the advanced performance of IceQuery is its foundation of PostgreSQL. This renowned and advanced open-source relational database management system allows users to have relational and graph databases in a single platform. Such features have been in demand due to the rising need for more complex data structures compatible with databases.

The combination of decentralized technology and PostgreSQL offers a plethora of use cases for IceQuery in various domains, such as dApps, Supply Chain Management, healthcare, real estate, public records, voting, and more.

What is ICE and How can you mine ICE tokens?

ICE is the native digital currency of the Ice network that you can mine from a mobile device. A single ICE equals one billion smaller units, called "ice flakes". Its maximum supply remains fluid, meaning that the maximum number of ICE coins that can exist is flexible as it depends on the inaugural phase of the Ice Network, which it calls "Decentralization". This phase will run from July 07, 2023, to October 07, 2024. Once phase 1 ends, the Ice network will decide the maximum supply of ICE coins, depending upon its total registered users, online miners, halving events and other bonuses. However, the distribution of ICE coins is pre-decided.

ICE coin allocation is as follows:

• Community Mining - 40%
• Team Allocation - 25%
• Community Pool - 15%
• Treasury Pool - 10%
• Ecosystem Growth and Innovation Pool - 10%

Allocating 40% of the ICE coin supply for community mining is to create a global community. Regardless of geographical location and economic status, anyone can mine ICE coins through their mobile device. Such a mining setup establishes a democratized way of mining ICE. It differs from most cryptocurrency mining methods, like Bitcoin (BTC), which involve extensive mining tools.

ICE Use Cases

ICE is the lifeblood of the ION blockchain. It facilitates seamless transactions and operations in the various components of the network through the following use cases and functionalities:

• ICE holders have the power to shape ION's future by casting votes in Ice Network DAO on important network improvement proposals and decisions.

• You can stake ICE to contribute to the security of Ice Network and, in return, earn the network rewards while creating a mutually beneficial relationship between yourself and the network.

• In IceID, the unified Identification system of Ice Network, a portion of the fee collected goes to ICE holders to ensure a continuous reward for them.

• The Ice network will select the top 300 ICE coin miners to become the network validators. In the decentralized social media vertical IceConnect, a portion of the earnings collected will go to these ICE coin nodes for their work, commitment, and contribution to the network.

How do you mine Ice Network (ICE coin)?

You can mine Ice Coins using your mobile devices. The Ice network offers this mobile mining option to ensure everyone has an equal opportunity to join the Ice Coin ecosystem.

Follow the below steps to mine ICE:

1. Download the ICE App, which is available in Android and iOS app stores.
2. Create a free account by simply completing the quick signup process.
3. Enter the referral link if you have any. You can find many on the Internet if you don't have any referral codes.
4. You can start mining the ICE tokens once you complete the signup and account creation process.
5. Check in the app every 24 hours and tap on the Ice logo button to start your daily mining session. You will mine the ICE tokens depending on the current mining rate/hour.

Ice Network (ICE) Refer & Earn

For each of your referred friends who mine ICE tokens simultaneously, you and your friend both receive a 25% bonus on your base mining rate.

For instance, if you two have a mining rate of 16 ICE/hour and you both mine ICE coin simultaneously, your (both your and your friend's) mining rate will become:

16 ICE/hr (mining rate) + 25% of 16 ICE (4 ICE) = 20 ICE/hr

Similarly, if 5 of your referred friends mine at the same time as you, the mining rate for all of you will become:

16 ICE + (5 x 25% of 16) = 36 ICE/hour

The Ice network divides your referred friends into Tier-1 and Tier-2 groups.

Tier 1 section will have those friends whom you invited.

Tier 2 section will have the friends that your referred friends invite.

While you receive a 25% ICE coin mining bonus for each of your Tier-1 friends, you will also receive a 5% mining bonus on your mining rate for each friend of the friend invited by you (Tier-2).

For example, if the friend you invited invites five new friends. Then, these 5 friends of your friend will go into Tier 2 of your mining list. It means you will receive a 5% bonus on each of these Tier-2 friends if they mine simultaneously with you.

That means you will receive a total additional bonus of:

[5 x (5% of 16 ICE/hr)] + [25% of 16 ICE/hr] = 4+4 = 8 ICE/hr

Thus, you will receive an extra 4 ICE/hr mining rate bonus in addition to the 4 ICE/hr bonus you received from your tier-1 reference.

Ice Network offers miners multiple exciting features besides these ICE tokens mining bonuses.

Let's have a quick look at them:

DAY OFF

Ice Network gives its loyal users a day off. During this Day off, even if the user does not tap the check-in button in the Ice app, the platform will consider that user online.

You get one Day off if you mine ICE coins consecutively for six days. If you mine for 30 consecutive days, you get five days off. The users can use these Days off anytime in phase 1, which ends on October 07, 2024.

SLASHING

After all your days off, a period of inactivity and slashing begins. Slashing is another unique concept introduced by Ice Network to encourage activity and engagement. Under it, if a user becomes inactive and does not start ICE coin mining by tapping the Ice logo button on the app after using their Day off, they will lose their mined ICE coins.

Once they resume mining and turn on their resurrection option, they can recover their lost ICE coins. If any of your tier-1 and tier-2 friends become inactive and enter the slashing mode, you will also lose the bonus you received when they were active.

If an ICE network miner stays inactive for 30 days, they will lose all the ICE coins they mined in the last 30 active days.

Between the next 31st to 60th Day of activity, they will lose the remaining mined ICE coins via slashing. If you do not open your Ice network application, you will lose all your earned ICE coins and the resurrection option to retrieve them.

HALVING

Halving is another crucial point of differentiation in the ICE network, which distinguishes it from similar mobile mining cryptocurrencies. In Ice Network, Halving means a 50% reduction of the ICE coin mining rate.

Initially, this halving was based on the average number of daily active miners over the past seven days as follows:

However, after the ICE coin mining rate was reduced to 4 ICE/hr, the Ice network team adopted a pre-defined date approach for the next halvings that will be as follows:

It is important to note that these features, like halving, slashing, and Days off, are applicable in Phase One of Ice Network, ending on October 07 2024. After that, phase 2 will begin, and the features may change.

What is the Ice Network (ICE) Price?

When writing (31/01/2024), the Ice network price is $0.006679 on various crypto price tracking websites. It has a market cap of $7.08 Million, giving it a market rank of #2524. Since its launch in mid-January 2024, the ATH of Ice network price has been $0.007309 and is currently trading at nearly 28% lower than this price.

This price came when various international crypto trading platforms listed ICE coins in USD pairs after January 19, 2024. These include centralized ones like Gate.io, BingX, Bitrue, and SuperEx. ICE coins are also available to trade in selected trading pairs on decentralized crypto exchanges like Uniswap and Pancakeswap.

What is the Snowman (SNOW) Memecoin of Ice Network?

The Snowman (SNOW) coin is the official meme coin of the Ice Network, designed to amplify the community spirit within the Ice ecosystem participants. The total supply of the SNOW meme coin is 888,888,888,888 SNOW, or 888.888 Trillion. The platform unlocked all these tokens and launched them on the Ethereum blockchain. A fair launch for SNOW tokens took place on the Uniswap exchange.

The essence of the SNOW token lies in its community and fair launch. It unifies the community spirit of the Ice network towards a decentralized future. According to Ice Network's official website, the SNOW token symbolizes the power that lies in collective action.

Apart from the SNOW memecoin, the Ice Network has also launched a launchpad. This Ice Meme launchpad will collaborate with artists, brands and other memecoins to provide them with a launchpad space in a transparent blockchain environment. Each new memecoin that Ice memecoin launchpad launches will have two liquidity pools; one with SNOW token (Snowman) and the other with Ethereum (ETH). Both these pools will be paired with the new memecoin. That means the total distribution of any new memecoin (say X) launched from the Ice Meme launchpad will be - 50% ETH/X and 50% SNOW/X pair.

Additionally, the Ice meme launchpad will allocate a 10-15% supply of each new meme coin to the Ice Ecosystem to support the sustainability of the ICE coin. A portion of this allocation will also be used for the buyback of ICE coins from the market to maintain the ICE coin price.

What is ICE Network DAO?

Every new step or change introduced in the Ice Network goes through the Ice Network Decentralized Autonomous Organization (DAO). This DAO gives its participants and holders of ICE Coin the power to decide the future trajectory of the Ice Network. The objective of this DAO is to create a democratic and inclusive environment where every member of the ICE network has a say instead of only a single entity or group of individuals.

The validators of the Ice network play a crucial role in the governance and operation of this DAO. They share the following responsibilities:

• Validating transactions and adding them to the blockchain in new blocks while maintaining the security and integrity of the Ice network.

• Staking a certain amount of ICE tokens as collateral shows their commitment to the network.

• Presenting new proposals and voting on the new proposals related to the policies and development of the Ice Network. They are liable for penalties and slashing if they fail to follow the rules.

When the Ice Network launches its main net, it will select 350 validators. 300 will be from miners and creators associated with the Ice Network in phase 1, and the project team will pick the rest. As the ecosystem grows, it will increase its validator count to 1000 within five years. If any validator gets wrong feedback from the network, the community can initiate a vote on their removal.

FAQs on Ice Network Price, Launch Date and Other Info

Is Ice Network legit?

Yes, Ice Network is a legitimate blockchain project. It addresses concerns in centralized digital environments by giving solutions related to user control, data privacy, and autonomy. The project introduces innovative features such as decentralized digital identity (IceID), decentralized social media (IceConnect), and decentralized file storage (IceVault). The ICE token, its native digital currency, is mined through a mobile app, fostering a global community through community mining. The project's governance is decentralized through the Ice Network DAO, where ICE coin holders, particularly validators, actively participate in decision-making, transaction validation, and proposing network-related policies. It also had a recent launch for the SNOW meme coin, designed to amplify community spirit and showcase a commitment to transparency and inclusivity. All this information suggests that Ice Network is a legitimate project. However, we advise you to thoroughly research your level before participating.

Is Ice Network on iOS?

Yes, Ice Network is on iOS, as per its official website. Anyone from across the globe with an Android or iOS device can participate in the Ice Network ecosystem.

Does Ice Network have a future?

As per its current growth plans, Ice Network has a promising future. The project addresses critical issues in centralized digital environments, offering innovative solutions through decentralized features. Its decentralized nature and comprehensive governance system through the Ice Network DAO suggest a commitment to community-driven decision-making. Launching a meme coin (SNOW) and plans for an Ice Meme launchpad further showcase the project's adaptability and engagement strategies. However, as with any cryptocurrency project, its success will depend on sustained development, adoption, and navigating challenges in the evolving blockchain landscape.

What is the Ice Network (ICE) launch date?

Ice Network was launched on July 07, 2023, and gained over 1 million users within a month. On January 19, 2024, the network was listed on various centralized and decentralized exchanges.

What is the Ice Network (ICE) Price?

At the time of writing, the Ice Network price is $0.006679, with a market cap of $7.08 million. Since its mid-January 2024 launch, the ICE network price has experienced fluctuations, reaching an all-time high of $0.007309. The current ICE network price reflects a nearly 28% decrease from its peak. It's essential to monitor the dynamic nature of the ICE network price, influenced by market trends and trading platforms, to make informed investment decisions.

How to buy ICE coins in India?

You can buy ICE tokens in India through decentralized exchanges like Uniswap and PancakeSwap, which recently listed them for trading. As of now, no Indian centralized exchange has listed ICE tokens. However, like any other cryptocurrency, ICE is also highly volatile due to its recent launch and new updates. Thus, do extensive research before purchasing it.

How can I sell my Ice coin in India?

You can use the same platform from where you purchased your ICE tokens. If you want to sell them to a different platform, you can transfer your ICE token to the wallet address of that platform and initiate the selling process.

What is the price of the Ice network in India?

The ICE/INR pair has not been listed on any Indian crypto exchange. However, you can use multiple online converters to convert Ice Network USD price into INR.