Followed by the arrival of Internet of Everything era, blockchain is combining with IoT in certain sectors. Blockchain technology possesses technological advantages such as anti-tampering, secure, traceable, zero-knowledge proofs and etc. that can provide decentralized solutions for large scale collaboration between device and device and solve technical requirements which are waited to be solved during IoT development. Furthermore, dispersion of IoT terminal device also provides the best platform for decentralization, hence we can say that the application of blockchain in IoT sector is in burgeoning stage now.
Because of that, IONChain’s IONC has emerged. IONC uses IoT + blockchain terminal devices to execute environment safely and credibly and also to release IoT devices on chain credibly. This is to solve problems occurred in identity verification of IoT terminal and authentic rights of data and ensure in-depth binding between data on chain and application scenarios.
IONChain’s IONC utilizes blockchain operational mechanism as the market rule of authentic rights and transaction of data market to solve “pain point” in data privacy and make standard transaction of data market become possible. This is the base of in-depth combination of IoT from data collection to scenario application.
IONChain provides highly customizable smart contract engine in which all operations can be completed via smart contract. Contract is managed by IPOS consensus algorithm which controls the whole system via robot instead of human. System will build-in system contract based on IPOS algorithm, and the authority of system contract is higher than normal user contract, thus system contract requires multi-party authorization to pass successfully.
"One Device, One Coin, One Code" Proposed by IONChain
“One Device, One Coin, One Code” concept proposed by IONChain combines IoT and blockchain in depth and achieves “every device is a mining machine” in IoT by relying on features of edge computing. Once access to IoT device of IONChain, user can obtain mining rewards using “ionization algorithm”. In IONChain, all sources of data are true and credible, quantization of data value is shown and data transmission is fast and safe. This facilitates formation of IoT application standard, promotes growth of new IoT application scenarios and helps IoT industry to step into fast development period.
Countless of IoT devices are like ions that can combine freely to form different application scenarios, bring happier living experience for human and build a community with a shared future of mankind.
Why everyone chooses IONChain? There must be a reason why IONChain attracts the users.
Actually, once access to IoT device of IONChain, user can obtain mining rewards using “ionization algorithm”. System will carry out accurate calculation of rewards based on various dimensions such as IoT device function, data volume, time (E.g. controlled duration of end terminal, duration of data collection, etc.), space (coverage area of end terminal or end terminal cluster) and etc. With rewards of IONChain token IONC, small and medium-sized enterprises or even individual user are more willing to join the IoT project. This eventually facilitates development of IoT infrastructures and we will be able to enter a new phase of public construction and transaction with millions of people in future.
When a person is using IoT device, and at the same time he or she can obtain rewards from IONChain in device, it’s definite that IONChain’s IONC will be the best choice.
IONChain's Distributed Storage Technology
For instance, the working principle of Xiaomi or Tmall voice assistant is to upload voice message collected for identification, and then make a smart feedback. However, this involves large quantity of private information. Despite that big quantity of data research is the reason why artificial intelligence in our country reaches top of the world, usage of information that has not been authorized by users causes dissatisfaction among the public.
As the public chain of IoT, IONChain always emphasizes on the security of data on chain and decentralized storage. IONChain uses IPFS and BigChainDB methods for storage, and data in IONChain ecology is stored in decentralized data storage nodes after encrypted. Without user’s private key, garbled characters that cannot be broken will be shown if stolen by anyone, hence security of user information is ensured. Furthermore, you can authorize third party to obtain more remunerations by utilizing your data, because third party can only accept the data itself without knowing the corresponding user information.
IONChain does not intend to defeat traditional centralized IoT ecology, but to coexist with it. Currently, IPFS (decentralized storage) technology has its existence value and we are well-aware of the achievements since the technology has developed for a longer time. IONChain provides users chances to choose between centralized IoT ecology and decentralized IoT ecology, because both ecologies will definitely complement and develop mutually.
Currently, IONChain has achieved strategic cooperation with many renowned IoT retailers in China. For smart set-top box and smart lock sector, IONChain has achieved strategic cooperation with two famous IoT device manufacturers in China, Shanghai Wocheng Information Technology Co., Ltd and Hangzhou Doors Internet Co., Ltd. Both products are currently in implementation stage now. Company on the latter is a fast-developed new smart device company that has in-depth technical partnership with Zhejiang University and was awarded with honours such as “Chu Ying Project Enterprise” in Hangzhou city, “AI Town Project Selection” and “Mayor Cup Entrepreneur Competition”.
In future years, IONChain may need to find balance between establishing sustainable business model and user experiences in order to create better user environment, make users obtain IONC rewards more easily and at the same time be able to use IoT devices. Users of IONChain not only limited to digital currency market, but also to B and to C model. Target group is people who use IoT devices in IONChain + IoT devices, and IONChain is the real project that implemented and possesses high potential in digital currency market.
Similar to what Defi concept has done, we have sufficient reason to expect development of distributed storage, IONChain’s IONC of cloud computing, digital currency price and ecology set up in future.
About IONChain
IONChain aims to build a platform to design and automate transactions between smart devices and facilitate an Internet of Things Economy.
IONChain Official Website:
https://www.ionchain.org/
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