The meaning and concept of IONCHAIN
IONChain is a project based in Singapore and Shanghai that was started by a team of developers who have worked on projects such as Hyperledger and diverse Blockchain-as-a-Service (BaaS) .
IonChain is a double-layered blockchain. The IonChain consists of lastic sharding at layer one and a base blockchain to confirm the blocks from the first layer. IonChain fully supports cross-shard transactions. The principles of IonChain’s design including increasing scalability but at the same time making sure that decentralization and security are paramount. Creating cross shared transactions seamlessly to give user quality of experience (QoE) within an ecosystem that is incentive driven is key to IonChain, being able to support different platforms and providing users with an easy to use account. Our design will allow for scalability to be in line across the requirements of maintaining high security with a good level of decentralization.
The coin was initially launched as an ERC20 token
IONChainIn 1887, the famous Swedish physicist, Arrhenius, proposed his theory of ionization, which posits that similar to molecules and atoms, ions are also a fundamental particle in the formation of substances.IONChain is so named because the IONChain will act as the underlying link between all the IoT devices to support the decentralized P2P communications among all the devices ,much like the ion is an integralelement of the atom, and without it the atom would not be what it is.Making IoT devices able to exchange value between each other automatically with the use of smart contracts is going to create innumerable application scenarios for the whole industry, pushing it into a new era.
Definition and Development of IoT
The Internet of things (IoT) 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.
IoT involves extending Internet connectivity beyond standard devices, such as desktops, laptops, smartphones and tablets, to any range of traditionally dumb or non-internet-enabled physical devices and everyday objects. Embedded with technology, these devices can communicate and interact over the Internet, and they can be remotely monitored and controlled. With the arrival of driverless vehicles, a branch of IoT, i.e. the Internet of Vehicles starts to gain more attention
Internet. IoT is vastly expanding the range of possible Internet applications. Therefore, we can say that application innovation is the core, and user experience is the soul of IoT development.
According to the statistics of IDC, and international data company based in USA, in 2015 the overall investment in global IoT market was 736.9 Billion dollars and it is predicted that this number
will increase up to 1289.9 Billion dollars by 2020. This means that the average annual growth rate of the industry is 15.02%. The number of IoT devices carrying IoT software and transmitting data
have reached 14.866 billion in 2015, and it is predicted to grow up to 30 billion by 2020.9/ 50
IONChain bitcointalk Explanation
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