IONChain: MERGING IOT AND BLOCKCHAIN TO CREATE VALUE FOR ALL
This is an article on the IonChain platform that solves the problems of security and privacy on IOT devices.
Key abbreviations
- IOV > internet of value
- IOT > internet of things
- IPFS > inter planetary file system
- IMQTT > IONChain MQ telemetry transport
INTRODUCTION
The internet on its own, has made a great impact on the lives of people since its inception. Data are transferred at fast pace and to almost anywhere in the world with ease. However, the only thing transferred is data. All that changed with the advent of internet of value (IOV). The internet of value was built to ensure no single authority had control over the transactions. The blockchain came in 2009 provided users with secure, decentralized, private way of transaction. Over the the last decade, the blockchain due to it's strengths have been integrated into quite a number of sectors in the world. The internet of things(IOT) is no exception.
The IOT is a system of interconnected devices (digital and/or mechanical), people, objects that are given unique identification and possess the ability to process, analyse, store and transfer data over a network without the intervention of humans. The technology basically are sensors and chips embedded in physical things around us that help us understand how these things work and work together.
Application cuts across almost every field of study and sectors in business. IOT targets customers who want to cut down on their energy consumption and also streamline their operations.
In the engineering field, the IOT is integrated to monitor process and provide real transparency.
An example is given below
Anita was on her way to work in her car, when she noticed the check engine light was on. She doesn't known what the problem is. The sensors in her car tyre is connected to the engine lights just in case anything goes wrong. The break fluid was below normal and this was what triggered the check engine light. There are several sensors in the car that give out information about the car. All these data from the sensors is sent to gateway that sorts through the data and sends the most important data to the manufacturer of the car.
The manufacturing platform has built in logic to help solve problems that may arise from any of their product. Therefore Anita can get a message on the nearest automobile workshop for her to get the break fluid topped up.
This data on Anita break fluid problem already resides in the manufacturer database. Should it occur again and maybe in several cars they manufacture,the manufacturers can now determine of the source of the problem was from the fact that the cars were produced in the same factor;on the same day; using the same components. Whatever the outcome of the analysis, the manufacturer is able to solve the problems easily.
In our homes and offices IOT also plays an important role. Imagine a smart house that has sensors to monitor vital organs of the owner. When he enters the house, the house plays the right music to suit his current emotional state.
Switching off lights in the bedroom shuts down the washing machine in the bathroom. The user needs some peace and quiet, he needs his quality sleep.
In agriculture, smart farming uses this same technology to monitor growth rate of plants, nutrient concentration, automated watering etc.
IOT has its advantages
- saves cost and conserves energy
- providing data to make informed decision.
- total transparency in communication
- a fully automated process.
The Market
There is a growing investment in the IOT world and by 2020 the number will hit 1289.9 billion dollars and number of IOT devices reaching a staggering 30billion.
IOT UNRESOLVED ISSUES
Every technology has its flaws and the IOT technology is no different. Some are listed below.
[a] No Business model:
Business models is basically a plan on how the firm will generate revenue; the products and services to be produced and how to market them to rein in profits. In IOT world, there is no clear cut model. The only economic benefit is the improvement in device performance. There has been no large scale integration in bug businesses yet.
[b] No Security and Privacy
The most talked about issue with regards to internet is security and pruvacyy: people need a safe and private means of transaction and data computations. IOT does not offer this. Central data centers that hold these information don't have the necessary tools to ward off hackers. The user does not know how his data is used, where it is used.
[c] No Interoperability
The centralised nature and structure of the IOT makes it very difficult for Big and small IOT firms to tap from the potential that IOT offers. Extracting real values from IOT is no possible.
[d] Inefficient Cloud Computing
Real life application such as virtual reality; industrial autonomous dtime.ng still experience a lag in processing time
There is the need to create and efficient bonding between IOT and Internet of value(blockchain). This bond must be able to solve the existing problems associated with security,privacy, data circulation, data transaction and sharing in IOT.
This is where IonChain comes in.
what is IONChain?
IONChain is an underlying architecture and link that connects the internet of things (IOT) devices to a decentralized peer to peer network. The aim is to solve the problems faced by IOT devices using IONChain, devices can fully interact and transfer data and values under a unified standard.
ONE DEVICE, ONE CODE, ONE COIN
The name IONChain was adapted from the ionization theory posited by the Swedish scientist Arrhenius. Ionization is is simply the process where an element becomes positive or negative when it loses or gains an electron.
IONChain Solutions
The solutions given by IONChain are as follow:
latency with Edge Computing
When it comes to heavyweight processes such as virtual reality , cloud computing does not provide the best services i.e. real time processing responses are not obtained.
IONChain used Edge computing to solve this problem. Edge computing allows for data to be processed close to where they are created. The network is a mesh topology and the data is processed on the devices before they are transferred to a central data center. With edge computing only the important and necessary data are sent to the cloud.
An oil rig in the sea can have a lot of sensors installed to measure different quantities, some of them inconsequential. Instead of sending the whole data for processing. The on-site IOT devices process the data and only the necessary data is sent over the network.
Feedback latency us reduced and user experience will be improved significantly.
Security, Privacy and Control
Users are given full control of their data and have the freedom to determine who has access to whatever information they provide on the network.
The relationship between IONChain and the IOT devices is a strong bond. The problem with central data centers is that information can seep through and user data can be exploited. IONChain solves this by storing its data in local or distributed nodes using an encryption. This encryption provides a layer of security by ensuring that only the user (having the right ID) has access to it.
Better Cloud Storage Services
The concept of weather terms in internet is amazing. Cloud storage offers a more secure way of storage. But the cloud is "far". Certain computations need to be done as quick as possible. This leads us to FOG COMPUTING.. Fog literally speaking is just a cloud close the ground. This is no misnomer for the technology of fog computing. Its a cloud storage service that consists of network connections between Edge devices and the cloud. The fog computing us basically an extension of the cloud service and its purpose is to improve efficiency and reduce the amount of data to be transported to the cloud for processing, analysis and storage.
This concept of computing also reduces latency and security. The less data on the central data center, the less vulnerable the system will be.
The New Algorithm
Every blockchain platform has to achieve consensus in some way or another. Some of them exist: proof of work(PoW), proof of stake(PoS) etc.
IONChain decided to revise the proof of stake consensus mechanism to suit the IOT requirement. The new algorithm is IPOS. The algorithm involves two processes: election of block producers and scheduling production. The election gives stakeholders full control of the system for they stand to gain/lose a lot if the system succeeds/fails.
The IPOS works in different mode
[a] Normal Operations
Block producers take turns producing blocks every three(3) seconds. With the scheduling approach to block production, no user is allowed to produce a block when it is not his turn. More like time slice in processing.
[b] Minority Fork
Nodes can malfunction and this will result to minority forks being produced. The minority will produce just 1 block every 9seconds while the majority fork produces 2blocks every 9seconds..
[c] Multiple Production by Disconnected Minority
Minority forks can only attempt to produce blocks of an unlimited number but it will still be lesser than the number of blocks produced majority fork.
[d] Network Fragmentation
IONChain has made it possible to fragment the network. No single fork ( minority or majority) has the majority of block producers. The longest chain will always belong to the largest minority.
[e] Transaction as proof of stake
The consensus mechanism continues to operate even when majority block producers fail. This takes care of network disruption and corruption from large minority fork producers.
[f] Multiple Connection by Minority
[g] Last Irreversible Block
[h] Lack of Producers Quorum
IONChain Architecture
This is the benefit of the IONChain architecture:
[1] UNIFIED STANDARD
The algorithm ensures that all devices are miners. Its is pertinent to note that these IOT devices are designed on different basis of technology and thus work in different forms. The IONCHain platform ensures that value creation is still possible whatever the device may be.
This is because every device will have algorithms specially designed for their individual value creation.
[2] Optimum Value Creation
Values on the internet just like data need to be created. The generation process of value on IONChain uses the Zero Proof of Knowledge.
Communication between the devices connected in the IONChain is done via the IMQTT protocol. The protocol which is an improvement of the then IBM MQ Telemetry Transport (MQTT) technology, ensure that users achieve optimum value creation.
Creating value with edge computing is better especially for those devices with low processing capabilities. Edge gives them an improved computing power.
The values created are verified. The verification is simply parties providing the data of interest to cooperative verification.
In the evaluation section , the verification is completed. This extra layer of verification protects the system from hacksand attacks such as double spending.
Confirmation stage involves confirming the data generated and the IONC (IONChain token) is generated.
[3] Better Value Transfer
The value transfer is separated into six(6) layers.
[a] Application: it is the user interface layer based on HTTP protocol. It provides anti-counterfeit verification of IOT devices and vendors. This layer also provides a means for new businesses to be integrated easily.
[b] Service: it is an abstraction of the internal modules. Its more of a program and it adopts the binary based GPRC protocol.
[c] Protocol: creates a unified protocol.
[d] Smart contract: this layer bridges the gap between blockchain and application. Users can legally and safely use data stored on the blockchain. The contracts in IONChain are listed below:
- currency issuance: this takes care of issuing or currency, reissuance and lock. It employs the IPOS algorithm.
- wallet: this contract manages all device and participant wallet. The actions include create, freeze and maintain.
- custom management contract manager: allows users to design and manage their own contracts; set access and limits.
[e] blockchain layer which introduces a new algorithm..
[f] data storage layer:
this layer provides a better means for storage means. Combining inter planetary file system (IPFS) and the BigChainDatabase , files can be retrieved not based on their location but content. IPFS is introduced to solve discrepancy between block volume and transaction speed. With IPFS, IOT data can be stored in a decentralized and encrypted environment. Access is given to only those with the access key. However, IPFS Lacked the ability to store business transactions. The big chain database is used to achieve proper business transaction record. It copies the strengths of the blockchain and stores business transactions.
Better Exchange and Circulation
[a] B2B: traditional production enterprises can be data producers. The nodes provide a standard peripheral data interface that terminal devices will use to upload various IOT data. Data transaction will be filly automated.
[b] C2B: Data providers and buyers also benefit from IONChain.Buyers can upload their data for monetization at a later time.
ECONOMIC MODEL OF IONChain
From the ecosystem
- IONC is the official token
- Maximum supply is 800million
- Bonds all the participants
- increase in transaction and purchase will lead an increase in value of the IONChain platform
To an individual
Rewards will be distributed to owners of IOT devicesin exchange for access to their devices for sending guaranteed data.
To business
Businesses can join the IONChaij by purchasing tokens. They can now use the data provided on the platform to perform on chain data analysis.
#Token Distribution
[a] circulation: these are tokens given out for community promotions. It is #20% of the total available tokens.
[b] Community Construction and Incentinve: it supports and incubate various IONChain based apps.
[c] Minning reward: Incentive all devices that partake in the consensus.
[d] Node Incentive
10% given to nodes who provide their computing power.
[e] Research and development: incentives will be given to the team for their serves provides.
roadMap
Team(consultants)
For inquiries on the IONchain platform you can make enquiries
- IonChain Website
- IonChain Bitcointalk
- IonChain Whitepaper
- IONChainYoutube
- IONChain Twitter
- IONChain Medium
- IONChain LinkedIn
- IONChain GitHub
- IONChain Steemit
- IONChain Telegram
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