# The ivault Chain

The ivault Chain is based on CoreLedger SparkNet. 

SparkNet is an independent blockchain that runs on Ethereum technology. This network runs on the Proof of Authority (POA) algorithm. It powers 10-20 transactions per second, has a scalability of 1,000 transactions per second, and generates blocks in 5 seconds.

The ivault Chain benefits from all the security improvements that come from being part of the highly secure Ethereum mainnet. 

And because it’s a hybrid blockchain, it’s:

* **Public read**: anyone can read transactions using the block explorer
* **Permissioned seal**: only approved addresses can validate transactions and create new blocks