Hi can somebody explain: the relationship between INS and Ethereum, and how they will effect each other?
The INS platform is designed as a very high-load system. The market potential for the INS ecosystem consists of billions of users, each of them making dozens of orders per year. The main focus is on performance, in which we seek smart contracts support, predictability, stability, and ease of use. We plan to use the most proven and scalable open source technologies and constantly monitor alternative technical implementations.
As the existing blockchain platforms such as Ethereum have inherent limitation in transaction bandwidth (currently limiting to a dozen tx/sec), and prospective platforms and frameworks are only in the development stage, we also consider designing and developing our own INS
blockchain platform in the future, where nodes are selected from a semi-trusted set of supporters. Given the trust in the nodes, we will implement one of much faster consensus algorithms from the BFT family (HoneyBadgerBFT/Zyzzyva/others), enabling up to thousands
transactions per second. A smart contract virtual machine will run on top of the consensus algorithm. The state of the INS blockchain will be regularly anchored to the most popular smart contract ledgers (at least ETH) so that proofs of state and proofs of transaction (within INS) can
be verified by Ethereum smart contracts (like it is currently done in BTCRelay or will be done in the future in Plasma). Common optimization techniques such as state sharding and payment channels will be also implemented.
After the ICO period, all contributors will receive the ERC20 compatible INS token on the Ethereum network. After launching the INS platform on own blockchain platform or a blockchain platform that will be chosen from the list of suitable alternatives, a token native to that platform
will be deployed. The ERC20 compatible INS token will be exchanged 1-to-1 with a native INS token.