IONCHAIN the reliable link of every IoT devices

2년 전

Table of Contents

  • Abstract

  • Introduction of IONCHAIN

  • IONCHAIN is defined

  • Significant Operation of IONCHAIN
  • Setback of the IOT

  • What IONCHAIN solves

  • IONCHAIN Processes

  • FAQS

  • Use-Cases

  • Conclusion

Abstract

With the envelopment of digital currencies in the global financial system, block chain technology has significantly improved where several companies, entities and even countries are interested in adopting this technology in their daily economical activities. Block chain is being viewed has the envisioned era for generations to come that won't only take over Internet but also, will extend it in its performance. The extension of the Internet is known has Internet of things which allows physical electronics, software or sensor embedded devices connect, transfer and exchange various data. This IoT solves a lot of pauses experienced in making several devices not to exchange data.

Since the Internet of things technology is the next level of Internet and block chain goal is to provide Internet of values, this shows that there will be a-must collaboration between the two which makes IoT connect with block chain.

Thus, it is impossible for IoT not to integrate with block chain.

Notwithstanding, IoT has several setbacks that block chain needs to solve and that block chain infrastructure suitable enough is IONCHAIN.

Introduction to IONCHAIN

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From the element known as "ION", this element is known to be very essential in the integration of several substances. Therefore, IONCHAIN has that same importance as its prefix posses. IONCHAIN serve as the link in which several IoT devices can communicate in a decentralized manner with the adoption of smart contracts. With the use of blockchain and its nature of being decentralized, this allows IoT devices to interact, communicate, exchange and transfer values from one point to another[P2P].

These communications are safeguarded under the smart contract.

IONCHAIN Expatiated

IONCHAIN can simply be explained as an IoT podium which serves as the central source to which IoT devices can communicate. IONCHAIN makes all IoT devices communicate at an equal range heedlessly of the type of devices that is exchanging values. IONCHAIN translate values in a manner that will allow these IoT devices poses their codes and coin.

Significant Operations of IONCHAIN
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The operation of IONCHAIN is to serve as a link for communication amongst IoT devices. It operates in a way that once a device is connecIoT
to the IONCHAIN, it has the functionality of enabling devices earn IONC tokens and also knowing the level of values each device posess. IONCHAIN network provide devices with IONC tokens since all devices has the characteristics of mining. Thus, every device in the IONCHAIN system serves as a mining device that can get rewards of the IONC tokens.

Setbacks of IoT (Internet of things)


IoT simply means Internet Of Things, which explains an era where devices can connect with other various devices. This technology is gradually having wide range of space for new application related to the Internet to emerge.
In as much as IOT is seen to be an extension of the Internet by allowing devices communicate and exchange values, IOT still posses some level of setbacks that makes its performance not efficient. Such setbacks can be solved by the merging of IoT to blockchain technology.

1) Unreliable Data Protection


This is one setback experienced in IoT where users are not able to have full authority over their confidential information they render to the system. They don't know how their information is processed or its significance to the system. A situation where a user can't have control over their data contradict decentralization which is seen has one of the possible path to a better global system. The central authority of IoT technology can be hacked by people which becomes a threat to users.

2) Its lacks the ability for inter communication amongst platforms


Like I stated earlier, centralization is one factor that causes obscurity for most systems to function efficiently. Central authority that characterized IoT is a blockage for data to be easily shared, exchanged, transfered, circulated or even communicated.

3)Not Business oriented


IoT don't diversify is different systems present globally especially the business sector. It focus mainly on electronic technology where substantial level of information or data has not been invested in business podiums. This shows a trace of being myopic in its operations.

4)Delay in Transactions


The IoT technology most times is built on cloud computing which is an inefficient method for a speedy transaction. This IoT created on Cloud network gives slow pace feedbacks for users.

What Does IONCHAIN Solve

With the setbacks briefly stated which is experienced in the IoT technology, IONCHAIN which is built on block chain is suitable to solve the frictions that occurs in IoT technology. IONCHAIN solves the following:

1)Total Control of Ones Data


The aspect of decentralization is fulfilled here, where one is in charge of the information that is being rendered to the system to avoid any form of centralization that attracts hackers. So, with IONCHAIN, you can access any information submitted to the system which is impossible with IoT.

2)One Device, One Chain and One Code


This vision is to disrupt any barrier towards communication of several IoT devices there by adopting a global standard that would lead to the integration of various system. IONCHAIN has the function of transforming every device as a miner which is leveled based on the functions, time, space and many more. With this, there will be total working together of various systems with one device, one coin and codes which is built on every smart tool.

4)Delay in Transactions

The meaning of IPFS is Inter Planetary File System which is known to be responsible for the speed of transactions. The more the data, the more slow transactions become. Therefore, this IPFS is built on IONCHAIN to enable transactions to be carried out in maximum speed. This allows data that is being stored to be segregated from data for transactions inorder to prevent frictions.

4)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.

IONCHAIN Value Processes

  • Value Generation

  • Value Verification

  • Value Evaluation

  • Value Confirmation

FAQS

Will IONCHAIN have a significant effect on IoT?

This is definitely a Yes, because IONCHAIN is firstly decentralized which is built on the block chain, this aspect alone will eliminate any central authority towards data control of users. This will give users the total freedom to access their private information since it is not in the hands of central control.

Secondly, IONCHAIN has the functions of making devices serve as a miner inorder to earn IONC tokens. Therefore, with IONCHAIN you can earn rewards of tokens where the power, space or time and value of the device is calculated through an algorithm software. This will make new users adopt to this since earnings are acquired.

How Does it Improve the Way Smart Contracts Operates

IONCHAIN Improves the way smart contact operates where transactions are based on the IONC tokens. Thus is where both parties exchange values is locked uo in a smart contract before been distributed. IONCHAIN allows a an interaction from device to human and device to device and also allows sending values in a decentralized network.

IONCHAIN Team
These are the team behind the creation of this unique podium known as IONCHAIN.

Use Cases

Imagine your company needs the information that was been submitted to the system urgently and this so called system can't provide their personal information to them, wouldn't that be inconvenient to why such information is centralized? But IONCHAIN is decentralized and posses the nature of your company being able to have full control of their information. It replaces centralization with decentralization.

In conclusion, it is pertinent to see IONCHAIN has the reliable link to which values can be exchanged amongst IOT devices and also, IONCHAIN is putting in block chain to IoT which is the era of the next generation.

For More Information , Visit the links Below;
IONCHAIN website
IONCHAIN Whitepaper

To partcipate in this contest, click here

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