INTRODUCTION
The discovery of computers and the internet gave birth to the concept of IoT (internet of things). Internet of things, is the network of physical devices, vehicles, home appliances and other things embedded with electronics, software, sensors, actuators and connectivity which enables these items to connect, collect and exchange data (Wikipedia).
The use of IoTs has already been gaining more popularity recently.
However, China (one of the worlds' most technologically developed country) has its IoT market estimated at 930b RMB and is expected to reach 1830b RMB by 2022(data source: China industrial information network).
In essence, this has been the twentieth year since the inception of IoT and though it has achieved lots of feats, it has also been plagued with inefficiencies such as:
Inability to utilize IoTs in a large scale
Embedding IoT in a large number of devices which utilizes and process data is a thing that's not common yet except in one case ie RFID. Yet having effective data circulation is highly crucial to the harmonization and synchronization of software-built devices.
Lack of users' privacy and data security
In as much as users personal data is required to generate an effective Computation and transmission of data applications, it's inherently susceptible to hacks, misuse, tracking, inappropriate surveillance and other unauthorized use.
Lack of users control of personal data and privacy is often associated with centralized storage servers and management.
Lack of equality and accessibility of data sharing amongst companies. There's no swift and easier transfer of data sharing and it has greatly affected the value and potentials of IoT big data. These are mainly due to the centralized nature of the leading data platforms involved.
Concurrent back-logs and delays in the response of cloud computing industries.
Several millisecond delays are usually reported in the response of data sharing devices and this has caused some significant chaos in critical situations.
The need to improve and embrace IoT for an efficient daily use is highly paramount.
INTRODUCING IONCHAIN NETWORK
IONChain utilizes the edge and cloud computing technology to provide a secured decentralised and shareable IoT network nodes between the providers & users of data applications.
SPECIAL FEATURES OF IONCHAIN
IONChain makes use of transactions as proof of stake (TaPoS) which ensures that every recent hash in a transaction, is tallied to an already existing block and whereby it's not matched, the transaction becomes invalid.
This ensures that chains are not forged or duplicated.
IONChain makes use of different protocols and smart contracts to procure a secured and easy access to external systems and applications (eg reaching a consensus on the trading/exchange of data services).
It will also support the building of third party applications ie open source.
Exchange and circulation of data. Here, IONChain will monetize the processing and sharing of data which will inturn, produce swift data circulation. So it's not going to be centralized storage servers anymore.
Data security and privacy protection. The fear of being trailed or having your data in the wrong hands or for wrong purposes isn't necessary with IONChain network.
IONIC TOKEN DETAILS
IONC is the utility based tokens that supports IONChain platform. It has a total supply of 800m. IONC tokens will undergo initial lockup and later, some periodical release/unlock to maintain a stable currency circulation and value.
As data manufacturers and utilized increase, so will the growth and demand for IONC increase.
There's also rewards for being an IONC token holder and the use of IONC tokens in the payment of platform services, has some added advantage.
As a rule, every platform that indulges in minning, usually witness an exponential growth of its token value due to increase in transactions and purchase (and IONC is not an exception).
One code, one coin, one device
HOW IONCHAIN INCORPORATES EVERYONES' PARTICIPATION
Inorder to make IoT revolutional, IONChain has enabled everyone and every smart device to participate in the minning pool of IONChain platform. With IONChain's concept of; "one device, one coin, one code", the present IoT hardware and infrastructure will be fully developed and utilized by all.
Here, devices are crested unique codes from IONChain that enables for easy tracing of data emanating from it.
IONChain's futher integration of IPFS (inter planetary file system) helps to encrypt and store IoT data which means that accessiblility is limited to users with the private keys.
IONChain also enables every electronic device to participate in minning.
All that's required is to install, insert chip or type in the IONChain unique code into your home appliances or devices and keep checking your wallet to view your IONC earned rewards from the mined pool.
USE CASES
Danny is a trained farmer who practices mixed farming. His annual yields are generally favourable but in recent years, there has been a significant decline.
Danny was greatly discouraged but decided to find out a solution. He however, learnt that his reduction in yields are caused by climate change and that he can possibly mitigate it's effects if he keep abreast with research.
That seemed tedious for Danny but fortunately, he stumbled upon IONChain network. He quickly requested for his code after installing the App. That code was linked to the general meteorological station in his town and whenever an adverse weather is about to occur, his phone beeps for 3hours prior, the temperature in his rabbit's cage adjusts (IONChain regulated thermostat) automatically and independently while he laces his crops with cellophane etc accordingly.
These steps has helped him regain his losses.
CONCLUSION
IONChain is a self-sufficient and sustainable ecosystem that disrupts the lags encountered in accessing IoTs data assets. It also enables people to acquire quality data sharing services while participating in blockchain minning pool.
Liquidity is available and the general value of tokens is outstanding.
IONCHAIN'S TEAM
This platform is graced with the best Veterans in various fields and job expertise.
Partners are renowned Enterprises with many more on the making.
This is an entry to a contest organized by @Originalworks with more details here
https://steemit.com/crypto/@originalworks/1300-steem-sponsored-writing-contest-ionchain-org
For the roadmap and other details please check out
https://www.ionchain.org/
https://www.youtube.com/channel/UC-wi7uAGZ9Wr5yeVVOycm_A
https://www.ionchain.org/pdfjs/web/viewer_EN.html
https://t.me/ionchain
https://en.m.wikipedia.org/wiki/Internet_of_things
Twitter post
IONChain2018
This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
You can also follow @contestbot to be notified of future contests!