When I first shared with you information about ITC, its price was 8k satoshi. This could be considered some kind of inside information, now the price is 3 times higher and if the team does not make any marketing mistakes, the purchase of ITC will be a perfect beginning of 2018. @dawidrams said that ITC is undervalued, i think that whole China market is undervalued and it is going to change in 2018.
IoT chain is unique
And it is better than, iota solving its failures and errors.
ITC is secure
ITC combines asymmetric encryption of cryptography, semi-homomorphic-encryption which makes IoT chain event more immutable because semi-homomorphic encryption does not allow to make changes to the encrypted data.
ITC is efficient
It can handle high network load up to 100k simultaneous requests. pBFT algorithm adoption together with DAG architecture will allow IoT Chain to be more efficient thatn competitors.
ITC allows users to share their data
IoT chain gives back data ownership to its real owners. IoT chain users will be able to share their data with companies with usage of smart contracts and zero knowledger proof. Companies will have to pay for usaging users data.
Architecture
We can sum up IoT chain architecture in 5 main points.
PBFT
Neo uses dBFT consensus algorithm, IoT chain will use another version of BFT algorithm which is pBFT becuse due to the large number of nodes it does not need to delegate consensus algorithm.
DAG
Directed acyclic graph like IOTA, IoT chain uses DAG it suits best to the IoT needs.
SPV
Simple payment verification with this technology payments verification can be conducted without maintaining complete blockchain information. It uses block headers to verify payments.
Smart contracts chain code
Data from IoT devices are worth a lot to the corporation. Companies that want to use them will have to use the ChainCode smart contracts.
CPS
Cyber Physical System is system which will be build on the top of IoT chain. CPS will bound big data, network and computations. That is the essence of IoT Chain system.
All above will alot IoT to confirm transactions in milliseconds. it is worth to buy IoT Chain, not only for speculative reasons, this product has a great future.
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This currency looks big, I have a few of us in mind that are at a small price right now which are going to be big for 2008
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thats true :)
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Hey, if you guys are interested in a more opposing view on the IoT Chain, check out my steemit article about their coin.
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Thats a great content choice...I appreciate to your blog .
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thanks :)
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Most welcome..I will wait for your new blog..
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Happy New Year - continue with good work
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happy new year, thanks!
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You have a big heart, take part of the donation,
You will be promoted as a donor, it is good for your promotion. If you can, Of course.
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Have to wait for next payout
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Interesting, will check it out!
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Do it asap :)
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Iota is a brand new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT). Unlike the complex and heavy blockchains of Bitcoin and the like, which were designed with other uses in mind, Iota is created to be as lightweight as possible, hence the name "Iota" with emphasis on the ‘IoT’ part.
The number of connected devices that will permeate our modern landscape in the coming decade is estimated to be 50 billion(!) Each of these are designed to make the world a better and more seamless place for us. Tied to this fantastic promise are of course a ton of obstacles to be overcome, of which one major one is micro-transactions. These connected IoT devices must be able to automatically pay miniscule amounts to one another in a frictionless manner without having to compromise on product design by introducing additional hardware. This is why Iota was conceived.
While it was developed as a solution to scalability issues faced in IoT, the underlying protocol is agnostic and can be applied in any other use-cases that utilize micro-transactions.
In order to achieve these audacious goals Iota’s design diverged radically from blockchain cryptocurrencies. It still retains the core principle ideas of the distributed consensus blockchain, but in order to be able to scale to the size of the coming Internet-of-Things ecosystem with tens of billions of devices that are connected to each other, it needed to be very lightweight and efficient. This problem is solved by Iota’s core innovation: the tangle.
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