IONChain: connecting the world through IoT (Internet of Things) technology
Introduction
Currently there is an incredible demand with respect to the creation of intelligent devices, which greatly facilitate the lives of people, however, the transfer of value, security and data of users or companies, most are always compromised exposing themselves to a possible hacking of data and tracking of transactions that end up being harmful, sometimes causing great losses of money without being able to attack this problem.
For some years Blockchain technology has evolved from its appearance in the technological and financial field, coming to be called the new generation of the Internet (The Internet of Value), bringing with it innumerable significant changes such as decentralization, anonymity, secure and fast transactions without borders, the monetization of innumerable initiatives, business under contracts that are executed automatically (Intelligent Contracts), among many other applications that have been emerging through the years until today
With this has also emerged a technology that allows the connection of any existing intelligent device facilitating its use in people's lives, this is called IoT (Internet of Things), which even today has not been fully implemented, but new initiatives have been born that promise to change and adapt it to our daily lives. One of these technologies and projects that finally come to change in how we can use the IoT to connect all our intelligent devices, make value transfers and much more is IONChain and I will be explaining how I could revolutionize is a new era of value and technology in the world.
What is IONChain
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IONChain is a project created by specialists in the Blockchain ecosystem, who have already had verifiable experience with previous projects such as Hyperledger. Having offices in Singapore and Shanghai, the same did not go through a phase of ICO by which most of the emerging projects in the ecosystem Blockchain, this is because the private investment funds, showed an incredible interest in it, investing in IONChain and betting on the project in question. Among the main investors in the project are
This Vision and Objective are as follows:
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Blockchain LD Capital, Node Capital, Hashlink Capital and IBC Blockchain Capital.
The name IONChain comes from the theory of Ionization proposed by Arrhenius in 1987, which stated the following:
Like molecules and atoms, ions are also basic particles of matter.
What led the creators to say:
Like Ions in physics, IONChain aims to become the underlying particle in the Internet of Things (IoT) ecosystem.
This premise leads IONChain to serve as the main link between all IoT devices that seek to transmit infinite data in a decentralized way between them in any application simultaneously, through the protocol by which IONChain technology works.
In few words and said in a simpler way, IONChain within its ecosystem, will allow the creation of many applications (Dapps), based on intelligent contracts that have as main objective to facilitate first of all the transfer of data from one application to another of equal to equal, unifying the central technologies for a fully decentralized operation and that will be part of the day to day of each person who uses it.
Vision and Objectives of IONChain
IONChain as a project, has very clear where they are going and what they want through it will develop over time. As I have already mentioned, they are based in Singapore, where they have been running a non-profit Foundation since the beginning of 2018, which to a great extent complements the projection they have in the medium and long term.
This Vision and Objective are as follows:
Vision:
Basically IONChain seeks to keep the whole society more connected and interactive through all intelligent devices that exist in the world, also based on constant research of technological advances that allow them to improve the connection of IoT.Objective:
The main objective of IONChain is basically to directly attack all the problems that currently arise in that ecosystem related to: Data security, data circulation, data exchange and data transactions, which will undoubtedly enable them to greatly improve the entire IoT ecosystem that is beginning to manifest itself more and more in our daily lives.
Ecosystem of IONChain
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For no one is a secret that in recent years has been evolving technology by leaps and bounds, with this, have created a wide range of intelligent devices capable of making everyday life easier for people, all this is at levels of mass consumption, as well as industrial and business levels that have largely automated many processes. It is here where IONChain believes that it is ideal to launch its project, which is the creation of a completely decentralized platform, which brings the combination of Blockchain technology and IoT, allowing the interaction of intelligent devices, under the implementation of a unified protocol of IONChain, where you can share data based on the data of other devices that are also connected to the interfaces of IONChain, in short IONChain is the gateway to a world of intelligent devices very broad.
How does the IONChain protocol work?
This protocol works by integrating with many other IoT devices, regardless of their manufacturers, thanks to this integration many Dapps can be created, allowing in turn the optimization of them. All these devices under the IONChain protocol, can be programmed in order to perform actions, which depend primarily on the data that these other devices have connected to the IONChain network.
In less technical words, each device connected to another, allows easy programming through the Dapps created, for the execution of relevant actions depending on the data, or rather the type of device with which it connects, taking into account that all this can be done with multiple devices without any restriction.
Another very important aspect to highlight is that the more people and/or manufacturers use the IONChain protocol in each of the devices, the more opportunities exist to program the operation or action to be executed in the created Dapps, in order to have a better experience and massive use of IoT.
Advantages and weaknesses of IoT and how IONChain can attack these
Mainly we are before a quite large market where technology continues to grow, millions of devices continue to be created and because of this continues to increase the lack of security and privacy for the data of all users who interact with any device, as most applications are in a centralized environment under servers that are in a single location being more prone to attacks and fraud.
Due to this problem IONChain with its peculiar and decentralized operation, increases security and privacy allowing to a large extent the integration of all devices worldwide.
Edge Computing to Disrupt IoT
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Edge computing is the practice of processing data perimetrically, in short, data can be processed on any local device or in the cloud, instead of being processed in a centralized data warehouse.
A device, a coin, a code
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This concept is basically the backbone of IONChain as it refers to the integration of all these elements into the ecosystem.
Device:
Means the IoT devices that participate in the IONChain ecosystem.Code:
This is the unique identification code that can also be used as a wallet for these IoT devices within the IONChain network.Currency:
This is simply the currency used in the IONChain ecosystem, which is IONC.Interplanetary File System Integration (IPFS)
This system is implemented because many Blockchains, have limitations in their storage capacity, which do not make them suitable for multimedia applications and other files that have large size, the purpose of implementation in IONChain is to address the origin of transactions, without compromising the data, which causes that distributing storage on multiple devices is the best bet for the proper functioning of your Blockchain in general.
Technical Architecture of IONChain
Mainly this system is given by what is called an Ionization, which as definition the following one:
It is a Chemical or Physical process, which generates an electromagnetic charge, where both negative and positive charges are produced, which form the ions.
Now in order to properly manage a data-driven ecosystem, IONChain created a method to separate value creation and value transfers called IONIZATION, so that it could be adapted to the Internet industry of things. Generally this process is done together by means of the chain of blocks, as it happens in a common way in Criptomonedas as Bitcoin, for example, however, this creation separates both executions of creation and transfers with multiple layers that I will explain next.
The creation of value
This is divided into four layers that are:
Value Generation:
In this layer, all information is stored in each of the intelligent devices separately, then these data are converted to an equal format, which are then passed to the next layer called Value Verification.Value Verification:
In this layer comes into action the best known consensus algorithms in the entire Blockchain ecosystem which are PoW and PoS, combined with each other. An exclusive feature of IONChain.Value Assessment:
In this layer after going through the corresponding value verification, the data is protected and authenticated so that double-spending attacks do not affect them.Value Confirmation:
In this last layer, the data is confirmed, and then generate the IONC tokens.Value Transfer
This is divided into six layers that are:
Application Layer:
This layer represents the interface to which all users using the IONChain system based on the hypertext transfer protocol (HTTP) have access.Service Layer:
This layer is used to communicate between internal modules, which even end users and main validating nodes will have access to.IONChain Protocol Layer:
This layer is used as a means to address all the central protocols that IONChain implemented within its entire ecosystem, in short, you will have access to: network protocol, consensus protocol, currency exchange protocol and all those implemented for the proper functioning of the ecosystem.Intelligent Contract Layer:
This is one of the most important layers in the transfer of value, as it forms a kind of bridge between the Blockchain and the application, ensuring that each user can use legally without traps and more securely all data stored in its chain of blocks.Blockchain Layer:
This layer is the core of the entire IONChain ecosystem.Storage Layer:
This layer is the one used by the Interplanetary File System (IPFS), combining it with BigChainDB, so that data can be stored more easily with sufficient space and in a decentralized manner.
What Rewards can we get through IONChain?
There are several ways in which users who use IONChain technology can be rewarded, these are:
The first is related to the use of Edge Computing technology, which allows each device to be a mining machine, which under IONChain's ionization algorithm constantly contributes to the network by receiving IONC tokens for this action. This is due to the creation of a unique consensus algorithm that allows to determine the value provided by IoT devices.
On the other hand, profits can also be obtained by using IONChain devices in conjunction with traditional devices, which extract a large amount of data, which in short means that the more they use a certain DAPP for the use of these devices, the more IONC can be extracted as a consequence.
IONC Specifications and Details
IONC is the token with which IONChain is monetized and produces rewards in the ecosystem, this works under the consensus algorithm PoS (Proof of Stake). In the system there is what is called stakeout which is carried out at different levels of Masternodes that are managed mainly by investors, IoT producers or other parts that could be important for the ecosystem in general. In order to perfectly secure the chain and the ecosystem, this stakeout is also executed under an intelligent contract, which goes into action when a certain number of blocks have been extracted.
IONC has a total coin supply of 800 million, the block time is set at 10 seconds on average, being prone to change depending on how the network behaves according to their demand, however, these can be changed only under the consensus of the general community. Masternodes will be set at 5 million IONC, but as the Mainnet is fully tested with partners more details will be given later.
How will IONChain impact the IoT industry?
In a very positive way it will be this impact that the IONChain project will cause in the IoT industry, this is because it addresses the main problems that hover over the security and privacy of the data in question, together with this, there is also the powerful technology behind IONChain that will allow in a decentralized way and with greater security the integration of all the existing intelligent devices that will surely change people's lives.
How can the IONChain ecosystem improve the way intelligent devices are used and communicate with each other?
The IONChain ecosystem is specially designed to improve the integration of all intelligent devices through the ionization protocol by which it works, in addition to this due to the creation of Dapps in your ecosystem, can also facilitate this entire process by allowing an infinite number of interconnections between them. In this way IONChain, is prepared to revolutionize the industry because its technology and the way it was designed there will be no borders and change the day to day of all people who adopt it.
What is the implication of combining Edge Computing with Blockchain technology?
This implication validates both parties with a clearly decentralized aspect, this is because perimeter computing is a practice where data is processed at the edge of it, avoiding that these are stored or processed in a centralized place, this combination together with Blockchain technology, which its main axis is decentralization, security, immutability, both are taken together which makes a very powerful combination giving a double layer of data security and privacy that many ecosystems do not have.
How will having a true IoT economy allow you to grow and accelerate the process of mass adoption?
Generally being able to monetize and have a digital economy and with our main devices is really shocking and attracts the attention of anyone, this is undoubtedly changing the traditional way in which business is done and hearing that by integrating your smart devices with the help of the IoT and LA Blockchain you can also earn money, accelerates the adoption of these technologies in the medium and long term. What will change many lives surely.
What is the impact of "One device, One code, One currency"?
It is the central definition of the IONChain ecosystem, which completes a triangle based on the main elements contemplated by the system in general, the nucleus by which IONChain works, having these three central definitions, even the inexperienced could broadly understand what the project is about.
Why is it important to have a global standard where Dapps can be developed once to work with all devices implemented by IONChain?
This technology allows the integration of all intelligent devices in a single place, the power to achieve this under a single project, without the need to explore other alternatives that may undermine security and privacy is really cumbersome and dangerous. For this reason, I consider that it is important that through the Dapps developed under the ecosystem of IONChain this integration was only in place and under the protocol that this offers, since the security and privacy of data is really important for anyone to generate adoption.
Use Cases
Generally speaking, a good case of use would be established for the protection of the homes of all the families that can adopt this technology, through the integration of devices that allow to link the mobile phone, with a closed circuit of security that warns you with an alarm if someone is in the premises of the same at any time, in addition to giving you instantaneous image of each one of the places where you have a camera.
Another good case of use, can also go in the integration of your mobile device and a television, which through this connection can notify you when it is on or off, or set some time off so that our children can not be distracted and perform their school tasks, that way at a distance you can control and know that there are no distractions that will allow the child to concentrate on their chores.
Conclusion
Overall IONChain is a formidable and innovative project, which comes at the precise moment when the Blockchain industry and IoT are in growing adoption as time goes by. This will undoubtedly help the whole ecosystem to generate the trust that the general population needs to be able to fully adopt the Blockchain technology and the Criptomoney, all this accompanied also by the IoT (Internet of Things).
Roadmap
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The Team IONChain
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Partners, Featured Technologies and Legal Support
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More Information & Resources:
- IONChain Website
- IONChain Bitcointalk Explanation
- IONChain WhitePaper
- IONChain YouTube
- IONChain Twitter
- IONChain Medium
- IONChain LinkedIn
- IONChain GitHub
- IONChain Steemit
- IONChain Telegram
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