Chinese company building high speed IOT blockchain

Headline

IoT blockchain of China with transaction speeds 10,000 faster than Ethereum

Advantages

• Strong investors (FBG)
• Strong comparable with IOTA at ~$10bn+ market cap
• Little advertising so far
• Strong technology (PBFT, DAG Network, CPS)
• Partnerships with
  • Shanghai High flying electronics technology
  • Peoples daily digital communication
  • Shenzhen Galaxywind Network system
  • Shanghai Shuncom Smart Technology
  • Telink semiconductor
  • Shanghai BeTiger Network Technology
  • Shenzhen Lenze Technology

Why is it Important?

Security

• IoT devices are susceptible to botnet attacks with existing IoT software. The Botnets of Things have infected more than 2m IoT devices.
• Centralised IoT management structures are not good at securing private data

Cost

• Centralised IoT cloud infrastructure is expensive to maintain.

Solution

• IoT Chain is a new blockchain utilising PBFT consensus and the DAG network
• By combining SPV technology in nodes, PBFT consensus algorithms and a CPS IoT layered architecture, IoT has a big-data IoT ecosystem that can scale with high usage, provide intelligence and securely store data.
• IoT Chain prevents IoT botnet attacks by using asymmetrical encryption on its blockchain.
• IoT Chain is highly scalable in design with architecture for up to tens of thousands of nodes. This allows it to scale to meet the needs of IoT data storage.

Core technology

• IoT Chain leverages the PBFT consensus protocol, leading to vastly improved processing performance compared to other consensus protocols.
• IoT Chain leverages the DAG network, improving the network’s throughput capacity and lowering transaction costs. The DAG network also improves security, enabling IoT Chain to protect against Quantum attacks.
• IoT Chain leverages Simple Payment Verification (SPV), enabling faster and cheaper payments between IoT devices.
• IoT Chain leverages Cyber Physical System (CPS), to integrate cloud computation within IoT devices

Valuation

• Low circulating market cap: less than $100m
• Potential circulating market cap: $1bn-$10bn

Summary

• This is a high quality blockchain project
• The circulating valuation is less than $100m
• IOT Chain has the potential to become a $1bn-$10bn valuation blockchain by 2019.

Telegram

• https://t.me/IoTChain