INTRODUCTION

THE ORIGIN

Its origin dates back to 1887, where the famous Swedish physicist, Arrhenius, proposed the theory that postulated the similarity of molecules and atoms, ions are also an essential particle in the formation of substances. IONChain has this name because it will act as a link between all IoT devices to support decentralized P2P communications between devices. The use of intelligent contracts seeks to create innumerable application scenarios for the entire industry, thus giving way to a new era.

DEVELOPMENT AND WEAK POINTS OF THE INTERNET OF THINGS

IoT is formulated as the key component of a new generation of information technology as well as an indispensable stage in the development of the era. IoT means: Internet of things, implying that when we reach this stage of the development of the Internet, the smart devices we use will be connected to each other. The IoT network is applied in the integration of networks through IntelliSense, therefore IoT is called as the third wave of global information technology after computers and the internet.

According to statistics from the IDC and international data company based in the USA, in 2015 the general investment in the global market of IoT was 736.9 billion dollars and it is expected that the figure may rise to 1289.9 billion by 2020, generating an annual growth rate of the industry by 15.02%. The amount of IoT devices that carry the software and transmits data has reached 14,866 million in 2015 and is thought to grow up to 30,000 million by 2020. Whitepaper p.8

Here they have a graph of the advance that is foreseen in the next 5 years an image of an:

Whitepaper p.9

Twenty years have passed since the concept of IoT was proposed, technology has evolved and great progress has been made, however at present there are some serious unresolved problems:

Business model for the IoT industry still not established
Lack of data security and privacy protection
Lack of interoperability between platforms
The shackles of cloud computing architecture

DISRUPTION OF THE IOT INDUSTRY WITH THE USE OF EDGE COMPUTING

Edge computing technology solves the long-standing IoT industry problems of adequate privacy protection and data security. -Whitepaper p.11

Here's a Reference architecture 2.0 of edge computing.

Whitepaper p.11

IONChain FOG COMPUTING

At the beginning of the development of IONChain, it focused on guaranteeing the security of the data and facilitating the exchange of data. Routing barriers of the regular platform and establishing connection between the nodes of the IOT network.

IONChain is in charge of fulfilling the requirement of the architecture of the Edge computing, making full use of the power of the network nodes which will comply with the connection requirements nearby for the calculation and storage of IoT devices, thus giving greater efficiency at the time of response.

After a thorough research on existing IoT networks, the IONChain team has come up with an innovative concept that we called “One Device, One Coin, One Code”. -Whitepaper p.12

APPLICATION SCENARIOS OF IONChain

IONChain can be adapted to any field of the IoT network, here you can see an image of the relationship between IONChain and IoT.

Whitepaper p.14

Data security and privacy protection: With IONChain applying storage methods and radical changes to IoT security and your privacy. Giving advantages over traditional centralized networks.
Exchange and circulation of IoT data: In traditional IoT networks, processing is limited to improving its own value, while the analysis of relevant data is only determined within the IoT scope network.
Smart contract facilitates sharing economy: IONChain is not only to admit the exchange of data, but for transaction of the operation authority. Smart contracts can be adapted and personalized, thus allowing the interaction between devices and devices and devices to people.
Edge computing optimizing IoT user experience: Some applications of IoT could not be materialized, thanks to the IONChain technology the efficiency of all systems hope to significantly improve helping the new business ideas to flourish.

OVERALL TECHNICAL ARCHITECTURE

Whitepaper p.21

ECONOMIC MODEL

The IONC is the official token of IONChain, and can be used by the different participants of this ecosystem, the maximum IONC offer is 800 million, being released during 20 years in a gradual manner, after those 20 years it is expected that the elected committee by the users that use the mechanism decide if new tokens will be issued according to the number of devices in the chain. The IONC token will be used to reward the providers of devices and data, however the limit is pre-established, this token is an indispensable and crucial part of the economic model of IONChain.

The IONC token can also be used in the following situations:

Rewards for the IoT devices used as miners
Compensation for the cost of running data search.
As a transaction fee for transferring the IONC currency between accounts, the billing node award
is paid accordingly.
R&D expense for the developers is a compensation paid by IONC users.

Here's an image about the distribution of tokens:

Whitepaper p.31

ROAD MAP

Whitepaper p.34

CONCLUSION

It can be concluded that the innovation of the application is the core, and the experience that the user will have will be the soul of IoT development. Creating as a point the break of barriers of the regular platform and establish connection between the nodes of the IOT network. The system was developed to integrate the current hardware and infrastructure of IoT. IONChain can be adapted to any field of the IoT network.