IONChain - A Blockchain Network for the Internet of Things (IoT)

maeugenia (52)in #originalworks • 6 years ago (edited)

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In this day and age, the cryptocurrency ecosystem has been growing in a manner that can only be described as rapid and mesmerizing, owing this immense success to its many investment advantages when compared to any other currency avalaible. Its popularity has even reached the mainstream media, attracting the attention of companies and investors alike.

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The blockchain technology created for Bitcoin and other cryptocurrencies allows users to safely exchange any type of assets, rights, goods and services in a global market 24 hours a day, not requiring the participation of a centralized authority or any intermediaries. This type of exchange, also called Internet of Value, is based on multiple decentralized systems and value networks that operate in the blockchain, these networks are fed by different cryptocurrencies and each network satisfies a specific commercial community. The blockchain provides the infrastructure for the Internet of Value and is collaborating with emerging technologies in different applications, among which we can mention the IoT network, a revolutionary network that will achieve the development of a new era on the Internet.

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The Iot (Internet of Things) network is starting to become a reality, it will connect any device that uses the internet service to all things, such as vehicles, appliances, or simple objects such as shoes, furniture, measuring devices, etc. The objective of this technology is to make our life more comfortable and much safer, imagine being able to control all of your household appliances from a Smartphone or PC. However, the IoT technology presents some obstacles for the advance in its development, mainly the difficulty to massively interconnect devices and objects. Another problem is the security of the data collected in the IoT devices.

In the hopes of offering new solutions, IONChain will facilitate the integration of the IoT devices with the blockchain network, making use of its advantages and aiming to solve the current problems in IoT networks in terms of security, data circulation, data exchange and transactions of data, so that the IoT technology can be developed to its maximum potential and offer its users a better day to day life.

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IONChain is a blockchain network for the IoT (Internet of Things). Its main objective is to solve the scalability problems that the IoT network currently has, aiming to increase the security and integration capacity of all intelligent devices worldwide. This will be achieved by standardizing the communication parameters of all the devices through the IoT network so that they are equal and compatible, being able to function as an ecosystem within their platform.

Unifying all devices IONChain can implement their vision: "One device, One Coin, One Code."

The Ion Chain project based in Singapore owes its name to the theory of ionization proposed by the swedish physicist Arrhenius, where IONChain will act as a link between all the devices of IoT so that there is a decentralized communication between all, in this way the devices in IoT can exchange value among themselves automatically through smart contracts.

Lack of a clear business model:
Although many technological advances are being made in the IoT, it still does not have a defined business vision. The data generated by IoT has not been applied to any large-scale industry project.
Lack of information security:
IoT devices will collect a large amount of confidential information of companies and individuals and thus, security and protection of privacy are paramount. The IoT network is not free of manipulation threats from its platform, which represents a risk for its users.
Lack of interoperability between platforms:
The centralization of data represents an obstacle to the exchange and circulation of data.
Lack of adequate infrastructure:
Although cloud computing has increased bandwidth in the network, it is still not enough. IoT networks in the cloud tend to be inefficient and too slow for applications that require interactions in real time.

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IONChain offers a decentralized solution to the problems of scalability of the IoT network for the security and integration capacity of smart devices. With the use of Edge computing technology the IONChain project will solve the problems of fast connection, real-time operation, data optimization, security and confidentiality of its users.

The Edge computing technology is an open platform that integrates network, computing, storage and applications at the edge of the network, where data is generated. The devices process the data near the edge of the network instead of in a centralized data processing warehouse.

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Edge computing is flexible and will integrate seamlessly with the cloud computing platform. With IONChain, individual devices share the task of processing data, light data processing is performed on devices and the heaviest in the cloud. The cloud is where the IoT industry is mainly developed, which is why Edge will function as a complement to it, serving as a layer to optimize its operation and providing solution to any problems that may arise with a real-time response, ideal to any applications that deem speed as fundamental. In addition, the use of Edge computing will reduce the latency of the network's feedback and solve problems regarding the security and privacy of the data.

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Using the IONChain platform that combines blockcahin and Edge computing technology, users in the IoT network will have advantages in terms of speed of transactions, control and security of their data, establishing limits on who can access them.

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With the usage of IONChain, smart devices will work together using a universal communication standard, which will allow the connection between the devices of the IoT network with the existing networks through the blockchain. The devices will act as nodes within the IoT network for the storage, processing and transfer of data.

A feature of IONChain is its ionization algorithm where each device in the IoT network is a mining machine, these devices can extract and receive rewards depending on the functions they perform, data volume, time, space, etc. The system will calculate the rewards.

The ionization algorithm separates the creation of value and the transfer of value. The data can be created and processed in smart devices, and then connected to the blockchain composed of all the devices that work together.

IONChain has developed the concept "A device, a coin, a code". The word "Device" covers all intelligent devices connected within the IoT network; the identification code is translated into the hardware of the IoT devices to stamp the data, all through a cryptocurrency that allows the operations in IONChain. The vision is to partner with device manufacturers and integrate identification codes in all smart devices, this will act as an identifier in the IONChain network making all devices secure and standardized.

Provides software tools for data conversion, data processing, data packaging and nodes for the IoT system.
It resolves transaction speed problems for large volumes of data blocks through IPFS (interplanetary planetary file system), whose main purpose is to distribute data storage on multiple devices in the IoT network.
It is completely safe, access to data is restricted and users can only access them with their private key. The information stored in the local nodes or distributed in the IoT network have encryption protocols to guarantee security.
It provides an adequate infrastructure so that a massive amount of devices can participate in the mining process.
Users can design their own smart contracts, automating data exchange agreements. The contracts can be customized and allow the transfer of value through the network. For example, a building in the commercial area where its owners are willing to rent their parking at certain times when they do not use it, when installing a smart contract those who seek parking can make use of the place and pay its owners for this service without any intermediaries , it is only necessary to be connected to IONChain.
It will facilitate the exchange and circulation of IoT data in the IoT network, traditional production companies can provide data to other companies and receive rewards. For example, a company that manufactures watches is not satisfied with the production and operation of its product, through the data commerce platform IONChain can collect information from another similar company to optimize their processes using smart contracts as a means to carry out the payment. This reward model motivates companies to provide information on their processes, helping other companies to develop their business.

The integration of the IONChain protocol in smart devices will allow the creation of dAPPs that will facilitate the optimization of all processes, making our life safer and easier.

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All IONChain connected devices can be programmed to execute actions that depend on the data received from other IONChain connected devices. It is possible to connect any device with any object. For example, the exchange of data between a cardiac monitor with the mobile phone, so that if there is a serious anomaly the mobile phone makes an emergency call, which could save many lives.

While more manufacturers implement the IONChain protocol in their devices, there will be more possibilities to automate and develop new dAPPs. IONChain encourages manufacturers and users to interact in the IONChain ecosystem through rewards on their IONC tokens.

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IONChain has a committed team with experience in large-scale projects that will make this platform succeed.

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The IONChain platform issues its own IONC tokens, a total of 800 million distributed tokens will be issued as follows:

● Circulation：25%
● Mining rewards: 25%
● Community construction & incentives: 20%
● R&D Team: 20%
● Node incentives: 10%

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IONChain will be the ions that hold together the molecules that represent all the devices in the IoT network

IONChain will improve the efficiency of the entire IoT ecosystem through its "One device, one coin, one code" concept, solving the scalability problems it currently presents, facilitating the integration of all devices and IoT with the IONChain's blockchain network.

The IONC tokens issued by its platform can be used in many ways: to reward miners, to have the right to be elected as a member of the IONChain council, compensation for calculating smart contracts, settlement of transaction fees, rewards for connecting others nodes, etc.

IONChain will be a safe and reliable platform that will revolutionize and improve the life of its users by allowing the development of a technology that will connect all intelligent devices to anything we want (Internet of Things).