IONChain Meets Internet of Things (IOT)

anyasiemmanuel (50)in #originalworks • 6 years ago (edited)

In line with event of thing, before we go through everything you need to know about

IONChain it is important we take a look at some basic conceptions which will aid in the understanding of all that will be said.

What are blockchain start-ups? These are prospretive companies or films with product value addition which incorporates the blockchain technology as a tool in carrying out its day to day activities. The blockchain technology was first used to power the bitcoin and since then many have seen the need to explore it rich power in creating real life projects while keeping the normal tradition attribute a company is expected to have.

What is IONChain
IONChain is a project based in Singapore and Shanghai that was started by a team of developers who have worked on projects such as Hyperledger and diverse Blockchain-as-a-Service (BaaS) companies. IONChain is a Proof of Stake based Internet of Things ecosystem that will allow for the creation of dAPPs, smart contracts and facilitate data transference. Internet of things as described, is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect, collect and exchange data. But in this case all connections, collections and data exchange will happen within the IONChain ecosystem and will help enhance the Internet of Things network.

Image Source IONChain

IONChain IMPACT ON IOT
One may ask what impact willIONChain have on the Internet of Things network? It very simple to detect. Every IOT devices connected within the IONChain ecosystem that provides valuable data can be able to mine IONC coin. Two connected device cannot get equal mining power as its contribution is jointly determined by the Data Quality Proof Consensus and Time Lapse Proof Consensus. The mined coin can be transferred from peer to peer in turn for monetary value. The coin was initially launched as an ERC20 token, however, there was a consensus by the team that the mainnet should be launched as soon as possible. So on August 28th the mainnet development was completed.

The implication of combining Edge Computing with blockchain technology is that the blockchain technology guaranties transparency, high security, decentralization, fast transaction speed and good data saving. These quality has stand it out from others in use.

Having a true Internet of Things economy allow it to grow and hasten the process of mass adoption since there is an uneven reward in terms of IONC token operators can confidently strive for better earns in turn creating more avenue for many people to join thereby increasing its usage.

In the concept of "One device, One code, One coin” the ‘’device” stands for the Internet of Things devices participating in the IONChain ecosystem, "Coin" stands for the cryptocurrency IONC. "Code" is the unique identification code which can also be used as a wallet for these IoT devices inside the IONChain network. It impact will lead to a continuous usage of the IONChain ecosystem.

Image Source IONChain

USEFULNESS OF IONChain
IONChain can be useful both in companies and private homes as we make use of Internet of Things devices everyday to send massages, upload information online, collecting data for research propose, connect with friends and family, and so on. IONChain will allow us be in control of our Internet of Things device and in turn earn from it when we it provides valuable data to the IONChain ecosystem.

IONChain has taking a great step through it proof of stake Internet of Things ecosystem to address the need for closure with our devices and through which we earn IONC token by providing valuable data as service for needful proposes. I see a great avenue for growth and prosperity when fully in operations. I implore you to do your own research and see a way you can benefit from it. Thank you IONChain2018

IONChain TEAM