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.
These are prospretive companies or films with product value addition which incorporates the blockchain technology as a tool in carrying out its day to day activities. The blockchain technology was first used to power the bitcoin and since then many have seen the need to explore it rich power in creating real life projects while keeping the normal tradition attribute a company is expected to have.
What is IONChain?
IONChain is an infrastructure project, with several objectives to be solved, such as sharing data, solving data, among others. IONChain is a Proof of Stake based Internet of Things ecosystem that will allow for the creation of dAPPs, smart contracts and facilitate data transference. Internet of things as described, is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect, collect and exchange data.
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.
The main challenges to overcome by IONChain
That the data move on the network quickly and efficiently is crucial because this means being able to expand the IoT technology to many more equipment such as cars where latency turns out to be very serious.Being able to carry out transactions is crucial because it allows us to generate tokens and be able to use them to pay the nodes and process the data to the miners.The safety of users, when it comes to equipment that we use every day and these can store personal information requires a protocol that allows the user to have full control of their data.
IONChain IMPACT ON IOT
Having a true Internet of Things economy allow it to grow and hasten the process of mass adoption since there is an uneven reward in terms of IONC token operators can confidently strive for better earns in turn creating more avenue for many people to join thereby increasing its usage.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.In the concept of "One device, One code, One coin” the ‘’device” stands for the Internet of Things devices participating in the IONChain ecosystem, "Coin" stands for the cryptocurrency IONC. "Code" is the unique identification code which can also be used as a wallet for these IoT devices inside the IONChain network. It impact will lead to a continuous usage of the IONChain ecosystem.
USEFULNESS OF IONChain
IONChain has taking a great step through it proof of stake Internet of Things ecosystem to address the need for closure with our devices and through which we earn IONC token by providing valuable data as service for needful proposes. I see a great avenue for growth and prosperity when fully in operations. I implore you to do your own research and see a way you can benefit from it. Thank you IONChain2018
IONChain can be useful both in companies and private homes as we make use of Internet of Things devices everyday to send massages, upload information online, collecting data for research propose, connect with friends and family, and so on. IONChain will allow us be in control of our Internet of Things device and in turn earn from it when we it provides valuable data to the IONChain ecosystem.
The Technical Architecture Of IONChain
IONChain's Roadmap
More information
https://www.ionchain.org/
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