IONChain// IoT + Blockchain

Internet of things has always proven itself as no longer just the next phase of the Internet but a fundamental tool to the reshaping of the core characteristics that we have always know the internet to have.

In the IOT world, when something is connected to the internet, it simply means that informations can be sent and received over the net. This ability to send and/or receive information makes things smart, and smart is good.

For a thing to be referred to as smart, it doesn’t need to have super storage or a super computer inside of it. All that is needed is for it to be connected to super storage or to a super computer.

In the Internet of Things, all the things that are being connected to the internet are classified into:

1. Things that collect information and then send it.
2. Things that receive information and then act on it.
3. Things that do both.

Note that all these three have huge benefits that feed on each other

Though IoT has great potentials to transform business for owners, employees and even customers, but still those who already embraced this next-gen network still have some work to do. IoT has lots of problems, or is exposed to weaknesses, so also are the enterprises that are connected to it are equally threatened.

Security and appropriate privacy protection are undoubtedly two of the major issues impacting the development. As a result of this users are no longer able to control the private data they submit to the system. Other issues include lack of adequate means of data sharing and circulation, restrictions of cloud computing architecture and others.

This is where IONCHAIN comes in!!

IONCHAIN

IONChain is an IoT infrastructure project that was basically set to address a broad range of concerns related to security, flow, and the trading and sharing of data

IONChain, the perfect blockchain and internet of things (IoT) match, through the introduction of a new architecture and algorithm is looking to change the playing field at the intersection of both the Blockchain and IoT industries.

IONChain tends to solve major issues of IOT especially when it comes to Data Security and Privacy Protection issues. IONChain will make use of a decentralized storage method; that is, one that would be not susceptible to hack. And in terms of data circulation and exchange, IONChain will break the dilemma and thereby monetize the process for an increased speed in terms of data circulation and exchange

IONChain, will challenge to existing blockchain and IoT market leader, IOTA, by
• Leveraging edge computing
• Using IPFS to protect against centralization of private user or device data in the same vain is the involvement of individual IoT nodes been increased in the decentralized network.

IONChain will be able to endow each IoT node with a unique identity through it's IONC protocol making it easier to know whether data is authentic and reliable, and also trace its source while contributing to the formation of standards throughout the industry.

In the IONChain network, all devices that are connected will also have the ability to generate mining rewards. Giving the IoT devices greater utility.

Overall Technical Architecture

IONChain makes use of a IONIZATION algorithm that separates value created layer and value transfer layer.

The value creation layer is solely responsible for creating value. While the value transfer layer allows transfer of value within the IONChain system.

IONChain Value Generation Process

This is divided into four layers of the system architecture namely;

1. Value Creation
2. Value Verification
3. Value Evaluation
4. Value Confirmation.

In the first layer, all informations are processed and stored in each individual smart devices. From which it enters the the "verification" layer, where these data are then processed through POS/POW consensus mechanism before they are being "Evaluated" in the evaluation layer. The evaluation layer is we're the data are being protected from attack. Lastly moved into the confirmation layer, where the data are confirmed.

Value Transfer

For value transfer, it is divided into six layers,

1. Application Layer: In this layer, a device allowed to request access to IONChain and it is referred to as the user interface layer.
2. Service Layer
3. Protocol Layer: provides a unified access protocol for IONChain
4. Smart Contract Layer: a key layer, that binds both user requirements and Blockchain consensus algorithm together.
5. Blockchain Layer: a core layer to IONChain.
6. Data Storage Layer: This layer involves data Storage and this is done based on IPFS and BigchainDB

IONC Token

This is the official token of the IONChain ecosystem which can be used by several participants. This token would be used to reward devices and data providers on the platform since IoT devices and data access constitutes a greater portion of the ecosystem.

Roles IONC Token will Play in IONChain Platform

• Owing that IONC Token it is the only authorized cryptocurrency of IONChain, participants are unified by this token.
• Participants get to make use of these token to participate in value creation process.
• Tokens will also be used as rewards in exchange for access user's IoT devices and for the generated data.
• Tokens can be purchased by business entities and used to pay for on-chain data analysis services.

For More information on IONChain, click here

This is an originalworks contest, for more information about the contest click here

Twitter link--->https://mobile.twitter.com/dahtDude_Ruona/status/1059944040140099587

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