What is the implication of combining Edge Computing with Blockchain Technology?

In the introduction section we saw how Edge Computing can solve issues of latency but it is worth understanding this section a bit more. The combination of Edge Computing over a blockchain network is set to disrupt the IoT Market.

Traditionally, any ecosystem requiring to manage a large database and/or requiring large processing power automatically turns towards the cloud for a solution. This makes sense so far as centralization of operations and processing across global centers are concerned. However, it is absolutely untenable in an environment like that of IONChain to depend on a cloud for processing data and delay the response time of the IoT device. In such cases, Edge Computing acts as a primer to process the data within the IoT device (or closer to the IoT device) and thereby, improve the response time of the IoT device. Edge computing, therefore, complements the cloud solution by acting as an optimization layer for the cloud.  

When we look at IONChain’s blockchain solution employing Edge Computing Technology, it is not difficult to see that the power of decentralization, security, immutable ledger presented by the blockchain comes together quite well with the speed of response of Edge Computing. In fact, the IONChain architecture perfectly blends with the technology requirements of Edge Computing. So, we are effectively looking at a future where IoT devices will be smart and secure under the IONChain Network umbrella.

What is the impact of "One device, One code, One coin"?

One of the issues with the current IoT industry is that there is no incentive for companies exploring IoT solutions to work together. Many a times, working together would mean to work with competition which may seem unreasonable given the nascent stage at which the IoT industry is. But this is not completely impossible. A close look at the automobile industry would clear any doubts of collaboration between car manufacturers who just about two to three decades back were fierce competitors. What such collaboration has done is advancement in automobile technology like Electric cars, Access to new markets or Access to an altogether new segment of customers without eating into each other’s revenue.  

Within the IoT Industry, such collaboration among companies (Or IoT device makers) is yet to be seen and hence a delay in formation of a global standard. This is set to change with IONChain. IONChain promises to be the reason as much as the catalyst to promote cooperation among players in the IoT industry. In doing so, we would witness the formation of a global standard for the industry. The aim towards this idea is the innovative concept called “One Device, One Code, One Coin.

IONChain was developed with the aim of integrating the current IoT hardware and infrastructure. The “Device” part mean the IoT devices, “Coin” stands for IONC coin and “Code” is the unique identification code for the IoT devices within the IONChain network. The code can be embedded in the hardware of the device making it easier to time stamp from the very beginning. As such, data entering the immutable blockchain makes it easier for all to access data and trace it back to the source, if need be. Also, IONChain will bring in the required software to enable the smooth functioning of the ecosystem and hence promises to make the concept of value creation and value transfer for all parties a reality and interesting enough to collaborate.

Let’s take a look at the IONChain Technical Architecture

IONChain utilizes a unique IONIZATION algorithm to run the blockchain. The uniqueness stems from the fact that the algorithm attempts to separate the value creation layer and the value transfer layer and is successful in doing that. Now, this is quite different from the well-established blockchain functions of keeping the value creation and value transfer layer together. While keeping the value creation and value transfer layer together works well for the Bitcoin or the Ethereum blockchain, it would be found wanting for the ever-evolving IoT industry. The idea of value creation and value transfer being together in the case of IoT devices may render the blockchain too heavy for easy operations. That’s one of the main reason to figure out a way of separating the value creation and value transfer functions.

Value creation can remain with the IoT devices themselves and therefore, they come with the capability of mining and being a constant source of value. The value created by each device will vary as much as their size and function. So, an air-conditioner on the network will create different value as compared to let’s say a cell-phone. All of the value created will be denoted by the IONC tokens. Here’s how this aspect is described in IONChain’s whitepaper: 

Just like the ions after ionization, the value created by different IoT devices in the IONChain network can be combined into new types of consensus algorithms that will ‘translate’ the value generated in different scenarios into the unified standard expressed in IONC coins.

Post the value creation phase, the value transfer layer allows the transfer of value through the IONChain ecosystem. All participants of the IONChain ecosystem can exchange their value freely through the value transfer layer.  

Let’s take a closer look at the value generation process:

IONChain Value Generation Process 

The Value generation process under IONChain can be sub-divided into four parts value creation, value verification, value evaluation and value confirmation. We will look at each of the parts. 

1. Value Creation (or Value Generation) 

Value Generation is through all the IoT devices and Edge Computing Centers near the devices which are connected to the IONChain Network. Such devices will have the IONChain consensus protocol and IONChain identification code which includes device manufacturer information, device identification and other related information. Each of the IoT device, as already discussed, can be used as a mining machine and produce IONC coins after the verification phase. The IoT devices within the IONChain can communicate freely with each other and communication is via a customized IMQTT protocol. 

The IMQTT protocol is an improvement of the MQTT protocol developed by IBM for communication between IoT devices. However, this MQTT lacks a value transfer layer and that is fulfilled by the IMQTT protocol allowing not only transfer of data but also value between IoT devices. Further, it was obvious that the current IoT devices wouldn’t be proficient enough to deal with the computing requirement of the value generation layer and hence the IONChain team will set up Edge Computing Centers closer to the IoT devices. This intermediary layer would add the desired computational power to the IoT devices and allow them to join the network to generate and transfer value. 

That brings us to the last part of the value creation cycle. How do we accurately calculate the value generated by the devices? To deal with this issue mining machine were introduced. The value generated by a device is computed by the mining machines based on the Data Quality Proof and Time Lapse Proof algorithms. This essentially completes the value generation process and the information is passed to the next layer for verification.

2. Value Verification 

The Value Verification is similar to the consensus algorithm in other blockchains. Those interested in the data provided by an IoT device come together to cooperatively complete the value verification. If the verification fails then it is returned as invalid while if it completed successfully, it is passed on the next layer for evaluation. 

3. Value Evaluation 

This step is essentially the second part of the value verification process and was set up to deal with any nefarious activities such as double spending. Here the verification of the authenticity of the value is done and much like the previous step, is carried out by the interested parties. 

4. Value Confirmation 

This is the last step of the value generation process and the function of this step is to package the verified value and move to the value transfer part. This also renders the value created by the IoT device to become a digital currency in the IONChain ecosystem. 

With that the value creation part is complete. But what happens after that? To look at it let’s understand the Value Transfer part of the process.

Value Transfer within IONChain Ecosystem

Much like the Value Creation step, the Value Transfer step is also divided into steps or layers. There are six layers in the system architecture dealing with value transfer and they are the Application Layer, Service Layer, IONChain Protocol Layer, Smart Contract Layer, Blockchain Layer and Data Storage Layer. The Architecture looks as shown below.

Now, let’s look at each of the layers. 

1. Application Layer

This is the user interface layer and in the initial stage will include in-built services like data validation, data query, vendor query, device registration and wallet query. This layer provides the REST API interfaces based on the HTTP protocol. IONChain adopts the plugin function to make it convenient to connect new businesses while ensuring security by providing anti-counterfeit verification function of both the IoT device and the vendor. 

2. Service Layer 

Service Layer is the layer which connects the external world to the internal modules of IONChain. It adopts the binary based GPRC protocol and is currently available only for the internal components. In future, the service layer will also be available for core nodes. 

3. Protocol Layer 

IONChain provides a unified access protocol at the protocol layer including consensus protocol, network protocol, currency swap protocol and others which provides external services. In future, this layer will be a common layer for all third-party applications.

4. Smart Contract Layer 

Now we enter the business end of IONChain and talk about one of the most important layer of the IONChain solution. The Smart Contract layer is the binding layer between the blockchain and the applications. They are the ones which bring user requirements and blockchain consensus algorithm mechanism together. This allows users to safely and legally access data stored on the blockchain to created value-added services which benefits the entire ecosystem. The Smart Contract Layer consists of two parts and these are the Contract Management and Contract Interface Layer. As the name suggests, the contract management part deals with the dynamics of contract development and working while contract interface layer deals with external system. There are few system related system contracts made available by IONChain.

A. Currency Issuance Contract 

The Currency Issuance Contract is the core of IONChain and is maintained with the IPOS consensus mechanism. It is valid only after it is multi-signed and is used for currency issuance, re-issuance, lock and other functions. 

B. Wallet Contract 

This contract is used for manage user’s wallet and is available for both the IoT devices and participants. The wallet contract is for wallet creation, maintenance, freeze and so on. 

C. IoT device Life Cycle Contract 

This contract is to deal with the life cycle of an IoT device on the chain. It manages operations like uploading device information on the chain, activation, deletion, etc.

D. Manufacturer Management Contract 

As the name suggest this contract is to manage manufacturer information on the chain and enable different activities on the information. 

E. Custom Contracts Manager Tool 

Again, as the name suggests, this is a custom contract building tool for users. The contract can be built by the user and can be seen by relevant parties only. IONChain provides life cycle management for user-built contract too.

5. Blockchain Layer

Now, we come to the layer which makes everything work in the IONChain ecosystem. Consensus algorithm forms the basis of this layer and uses a modified version of the POS algorithm. IONChain calls this modified version, which is made to better suit the IoT world, as IPOS algorithm. IPOS is an upgrade over the POW and POS and comprises of two parts – electing a group of block producers and scheduling production. Though, how people are elected has little impact on how consensus works on the chain.  

To explain this part let’s assume there are 3 block producers, although in the real world there would be 21 or more block producers. The assumed block producers are IoT device supplier (A), IoT data consumer (B) and IoT authority (C). Now resolution of cases in such simplified world would require a 2/3+1 vote and hence we take the IoT device supplier as the tiebreaker. Much like Proof of Work, the general rule is that the longest chain wins. When an honest peer sees that there is valid longer chain, then there is certainty that such a honest peer will switch from current to the longer chain. Now in cases where there are nefarious intentions or nefarious nodes, the network risks being undermined. This is what the IPOS so effectively handles. But what are those cases? These are enumerated below:

From the examples it is obvious that the IPOS algorithm is indeed robust and secure enough to handle not only nefarious minority attacks but natural network disruptions. The best part is that IPOS can continue to function even when a majority of producers fail; this puts it in a different league compared to other blockchains which would most likely fail. IPOS is designed to optimize performance ensuring 100% honest nodes participation with robust network conditions. At this point there is simply no competing algorithm as robust as IPOS to operate effectively under such varied failure conditions!  

6. Data Storage Layer

IONChain provides two ways to store data on the blockchain which are based on IPFS and BigChainDB. The two applications of storage depend on enterprises using them or small users. The IPFS storage is an emerging standard to locate a file depending on the content rather than the location. The name of the file, therefore, will correlate with the content of the file and it will be same in all the systems. So, a computer (or user) can easily verify if their file is right and matches the other file names and their contents.  

Future applications of IONChain may require it to store business data and hence IONChain introduces BigChainDB as business storage engine to meet data research requirement. BigChainDB has some advantages of blockchain like decentralization, immutability and asset registration and transfer.  

This is what makes the IONChain architecture robust and future ready to deal with progress and improvement in the IoT space; not to mention IONChain itself would be great disruption in the IoT space. 

How will having a true IoT economy allow it to grow and hasten the process of mass adoption?

The IoT space so far has been fragmented and chances are it would remain so if progress or interest in the space does not follow. All the progress in this space has more or less been driven by private parties like Amazon, Google and others interested in furthering their solutions. No doubt, even this progress is welcome but it ensures that the siloed nature of IoT progress remains and does not incentivize any player to put their effort into collaboration and standardization. 

With IONChain the equation changes a bit. IONChain effectively has a well-thought through solution which combines Blockchain solution with Edge Computing in speeding up IoT response and then uses an innovative IPOS algorithm to run the blockchain effectively while brings in an innovative storage architecture complementing the needs of the IoT industry. In doing so, IONChain has broken the known barriers in the IoT space and has effectively made it easy to incentivize everyone including the device manufacturer, the device user, third parties studying a specific area basis the data from the devices and many more. Effectively, IoT participation improves and there is more reason to join the network. Once beyond a threshold, every other device manufacturer will see the benefit of being in this network to witness what is happening as much as what more can happen. This will then lead to an exponential rise in adoption as users and device manufacturers alike see that the solution benefits them as much as their businesses.

Just imagine an IONChain ecosystem of the future where both Amazon and Google are participants of the network. An Amazon drone out to dispatch a consignment encounters a flock of birds in its flight path. So to avoid a collision the drone has to change altitude with a minor risk of flying into other drones on those flight paths. So, the drone computes the distance to collision with the birds with the help of the Edge Computing technology and uses the time to query Google Maps on spatial information. Google Server provides feedback to gain altitude and remain at that altitude for some time, avoid the flock of birds, and come back to the original altitude. How cool is that?  

Two business giants come together to make use of IONChain ecosystem. If not for IONChain there were no converging interests of the two companies to work together.

Why is it important to have a global standard where dAPPs can be developed once to work with all IONChain implemented devices? 

Of the many challenges we saw so far in our discussion about the IoT industry, standardization is one of the biggest challenges. While all the efforts of IONChain are true and will indeed bring about changes in the solution and industry, lack of standardization will only delay the progress.  

If standardization is brought in at the DApps level or Application layer level then we are looking at standardization of user interface and thereby, easy to bring together different IoT devices under the chain quite easily. Devoid of this, users will be scrambling across applications to use devices and will lead to siloed operations. This is exactly what global standard for DApps will help counter. 

Use Cases 

Case 1: Amazon Delivery Being Stolen 

Mark is an avid buyer from Amazon and is quite a happy customer. However, lately, all his orders are being stolen. This is the case with other neighbors too. Since Mark and his wife both are working, neither are there at home to collect the consignment. This leads to the Amazon delivery man leaving the parcel at their doorstep which eventually gets stolen. He had installed a video camera and had seen the stealing LIVE. But he is fed up getting his consignment stolen and then reporting to the cops. 

Mark hears about IONChain and the instant realization of how it could help. He has already installed cameras at his place. At the time of delivery, he gets a call from the delivery man. He switches on his LIVE camera and talks to the delivery man. Using the IONChain DApps, he opens the front door so that the delivery man can push the consignment inside. Once done, he locks the door again and thanks the delivery man. The camera and the door lock are on the IONChain network and help Mark gets his consignment without hassles. This impresses him so much that he tells his neighbors to use the solution to counter the robbery that is happening in their backyard. 

Truly, IONChain to the rescue! 

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Case 2: Garment Order Management 

Terry manufactures the base garment which a popular design brand buys from him to sell all over America. There are multiple outlets through which they sell and based on consumption, they order garments from Terry. The problem is that the order quantity is quite erratic and being a design house there is no set pattern of buying. Terry has no clue how to manage his inventory. If he produces basis the last month or even last six months consumption, it is either too low (in which case he enters distress production) or too high (in which case he holds high inventory). Both cases lead to loss of money. 

Terry comes to know about IONChain and is excited about the possibilities. He convinces the big brand to install the IONChain solution in their Point of Sale (POS) system. Every time, the barcode reader reads the price label for billing, it would help him get real-time information of sales across the hundred and twenty-five outlets. This would then help him plan the production day-wise based on consumption. In fact, the production schedule can also be fed to the system through the IONChain system making the entire chain automated.  

Now Terry is a happy man as he is producing to requirement and actually following Just In Time (JIT) production principle. The story of his JIT success reaches others and everyone is excited to try out this new age JIT powered by IONChain.

A look at IONChain Tokenomics 

IONC is the official token of the IONChain ecosystem. It will have a total supply of 800 million tokens which will be released over 20 years. At the end of 20 years, the administrative committee can decide whether to re-issue IONC tokens based on the business and blockchain realities of that time. 

The current tokenomics is shown in the figure below:

 

IONChain Roadmap

 

Now, the team behind IONChain

 

And IONChain Consultants

 

Summary 

At a time when the IoT industry needs an influx of idea or solution to take it to the next level, IONChain comes as not only the idea and solution but also inspiration for the IoT space. The innovative thought process, the well thought-through technologies and the easy to deploy solution ticks all the right boxes.  

IONChain is not only here to take IoT space to the next level but also to transform the industry and make it accessible for more players! 

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Here’s my Twitter Link:  

https://twitter.com/DawsonSavio/status/1060250109718421504

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It is also recommended that readers understand more about IONChain through any of the following informative resources. 

• IONChain Website
• IONChain Bitcointalk Explanation
• IONChain WhitePaper
• IONChain YouTube
• IONChain Twitter
• IONChain Medium
• IONChain LinkedIn
• IONChain GitHub
• IONChain Steemit
• IONChain Telegram

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This article is written in response to originalworks’ call on authors’ thoughts on IONChain. It can be read here.

 Image Courtesy:Pixabay and IONChain.org Resources   

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