Technical Background

Blocks are generated every 60 seconds, on average, by accounts that are unlocked on network nodes. Since the full token supply already exists, IEP is redistributed through the inclusion of transaction fees which are awarded to an account when it successfully creates a block. This process is known as forging, and is a kin to the “mining” concept employed by other crypto-currencies.

Transactions are deemed safe after 10 block confirmations, and IEP’s current architecture and block size cap allows for the processing of up to 367,200 transactions per day, with unlimited scalability potential. IEP transactions are based on a series of core transaction types that do not require any script processing or transaction input/output processing on the part of network nodes.