Introduction
IONChain is a Pos(Proof of Stake) platform that makes provision for the necessary tools and utilities for the creation of Dapps (Internet of Things applications for smart devices), smart contracts as well as execute the free flow of data within the entire ecosystem(dapps, smart devices et al.) of IONChain.
The project which was has its strong holds in singapore and china which could be due to the fact that they possess quiet alot of support in form of patnerships from huge blockchain-inspired platforms like Blockchain brothers which is based in China.IONChain will act as its link between all IoT devices to support decentralized P2P communications.
All this, will make IONChain achieve that the communication parameters of all the devices through this network, allow them to be the same.
IONChain IMPACT ON IOT
One may ask what impact willIONChain have on the Internet of Things network? It very simple to detect. Every IOT devices connected within the IONChain ecosystem that provides valuable data can be able to mine IONC coin. Two connected device cannot get equal mining power as its contribution is jointly determined by the Data Quality Proof Consensus and Time Lapse Proof Consensus. The mined coin can be transferred from peer to peer in turn for monetary value. The coin was initially launched as an ERC20 token, however, there was a consensus by the team that the mainnet should be launched as soon as possible. So on August 28th the mainnet development was completed.
Business model, not yet established
In fact, IoT could be referred to as the third wave of global information technology. Being first computers and internet. Since the change that the world is living in the last 40 years, breaking paradigms of the second wave, to exercise and impose with this third wave in which we are already sailing. Differentiating the first wave that was self-consumption, now this third wave can produce products and services for others that is the big difference.
Smart Contracts Oreinted
When it comes to sharing and receiving data, this transactions are locked up in a smart contracts where data would locked in a smart lock before an agreement is made by both parties.
The Architecture and Algorithm of IONChain
The technical architecture of IONChain is based on the algorithm of IONIZATION. The date in IONChain ecosystem is created and process with a device. The task of value creation and transfer is processed separately. It is almost like the ecosystem of ION where multiple molecules gain positive and negative charge by releasing electrons from IONS.
How will IONChain impact the IoT industry?
ION Chain will create a platform using edge computing with their patented algorithms to enable the future that is IoT. Also, as this is blockchain and cryptocurrency they will have a token that each device on the IoT network can mine and accurately keep track of many functions, all secure (the cryptography of the blockchain) and standardized (all devices coming to consensus).
The IONChain Team
For More Information
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