IONChain, a Safe locker for the IoT
We all use this platform that speaks about crypto currencies and Blockchain, but what is the Blockchain?
Blockchain is a simple platform that has been around ever since 1991, and it's purpose consist on, making registry and verify transactions or contratcs for the users, this elements cannot be deleted later on and anyone can see them.
Think of it like a chain of online books, everyone can read and write them, but no one can erase it.
Anyways the things that lacks the blockchain is what turns into controversial and prone those greedy capitalist of risk. You see Bookkeeping tools generally require a bookkeeper, but using the blockchains, theres no main bookkeeper. There's only one Spreadsheet without centralized plots and for multiple uses.
How does it work?
The blockchain is designed to make all those transactions safe and trust-worthy, even if the persons that make them don't trust each other.
Years ago, there was a guy called Nakamoto with a math solution for a famous game theory puzzle called the Byzantine General’s Problem, on wich the old army men plan an attack, but they are worried about the traitor that are in the vicinity. Don't trust anyone! But even though you have to be careful, there must be a way to comunicate for the strike without any sabotage.
Here is where omething like the blockchain comes in play. Every time a transaction is made here, it is send to a bunch of nodes on the Bitcoin net. Basicly, all those that participate in the Bitcoin process have also a copy of that main spreadsheet and they can verify if there's some inconsistencies. The order of the transactions can also verify trough a cryptographic process that that relies on the combined computational power of the crowd. So if you try to make a fake trade, you'll be caught, because the ret of the nodes users can trace each change of the exchange.
Blockchain is a simple platform that has been around ever since 1991, and it's purpose consist on, making registry and verify transactions or contratcs for the users, this elements cannot be deleted later on and anyone can see them.
Think of it like a chain of online books, everyone can read and write them, but no one can erase it.
Anyways the things that lacks the blockchain is what turns into controversial and prone those greedy capitalist of risk. You see Bookkeeping tools generally require a bookkeeper, but using the blockchains, theres no main bookkeeper. There's only one Spreadsheet without centralized plots and for multiple uses.
How does it work?
The blockchain is designed to make all those transactions safe and trust-worthy, even if the persons that make them don't trust each other.
Years ago, there was a guy called Nakamoto with a math solution for a famous game theory puzzle called the Byzantine General’s Problem, on wich the old army men plan an attack, but they are worried about the traitor that are in the vicinity. Don't trust anyone! But even though you have to be careful, there must be a way to comunicate for the strike without any sabotage.
Here is where omething like the blockchain comes in play. Every time a transaction is made here, it is send to a bunch of nodes on the Bitcoin net. Basicly, all those that participate in the Bitcoin process have also a copy of that main spreadsheet and they can verify if there's some inconsistencies. The order of the transactions can also verify trough a cryptographic process that that relies on the combined computational power of the crowd. So if you try to make a fake trade, you'll be caught, because the ret of the nodes users can trace each change of the exchange.
There's another element here the IoT
Thank to the interconnection via the Internet of computing devices embedded in everyday objects, enabling them to send and receive data. This complex element holds a lot of data, from cap, to houses contracts, basically everything that goes trough the internet goes into this category.
Here's where IONChain turns into a Backbone for the IoT like they say.
"You would ask me... and why would it work that way? well. "IONChain is a non-profit foundation, founded in Singapore in early 2018. IONChain is an IoT infrastructure project that aims to solve issues such as:
data security
data circulation
data sharing
data transactions
IONChain will make the communication parameters of all devices over the IoT Network the same, regardless of device used! By standardizing the way data is interpreted, it will allow them to implement their vision - “One Device, One Coin, One Code”.
While IoT technology has come very far, there is still a lack of cross-device compatibility and global standardization of how they operate. IONChain is the ecosystem that will unify smart device technology and enable them to truly become a part of our everyday lives!
"
"Source: IONChain WhitePaper, Page 11
With IONChain, individual devices and the cloud, share the task of processing data. Some of the lighter data processing can be done on local devices, while large computing tasks that are more resource intensive are processed on the Cloud!"
One Device, One Coin, One Code
IONChain wants to help break the barrier that holds different types of devices, allowing them to work together uing a universal standart. All thanks to their blockchain wich is ideal for edge computing applications. Allowing each device in its IoT to be a miner. The system will accurately calculate the precise rewards from the functions [such as], data volume, time, ... space, and etc.”
This guys even have an interview on Bitcointalk! Check it out!
Simple and Comfortable
There's a large plethora of blockchains nowadays, with diverse levels of complexity, that's why the math underlying the crypto is always different. But the principle is alwys similar, a large group decentralized of machines capable of verify transactions, and IONChain makes the different with their proposal.
This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
You can also follow @contestbot to be notified of future contests!