IONChain - A platform to design and automate transactions between smart devices-

medicineforlife (47)in #blockchain • 6 years ago (edited)

IONChain - A platform to design and automate transactions between smart devices-

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A few years ago the cryptocurrency started, but it is not till now that they have its greatest impact, and it will continue over the years, thanks to this, there are more projects related to this world of cryptocurrency.

Today I want to talk about IONChain A platform to design and automate transactions between smart devices

In relation to its origin and this is due to Swedish physicist calle Arrhenius who according to the theory of ionization which postulates atoms and molecules, the ions are also necessary particles in the formation of substances. It will act as the underlying link between all IoT devices to support decentralized P2P communications between all devices.

source

IoT (Internet o things) that means it would be considered the new 3rd wave of technology and information from the computers, since IoT is a key component of a new generation in which to achieve, all the intelligent devices that are used today will be Connected to each other. Great strides are waiting for the not too distant future.

"According IDC in 2015 the overall investment in global IoT market was 736.9 Billion dollars and it is predicted that this number will increase up to 1289.9 Billion dollars in the next 2 years" source - Whitepaper page 8

Although this term IoT already have time being heard, because there are always barriers or problems still unsolved as:

Business model for the IoT industry still not established
Lack of data security and privacy protection
Lack of interoperability between platforms
The shackles of cloud computing architecture

IONChain aims to solve problems of IoT in terms of data security, circulation of data, etc as well as have some terms "one device, one Coin, one Code" which once made the communication between devices connected to network IoT be Used as a mining machine.

Token

Every platform has its token, in this case the token is called IONC, which has an offer of 800 million, this can be used by multiple participants, will be in circulation for 20 years, then decide if they re-issue , however we have a long journey. Then we'll see what will happen.

IONC is the only authorized cryptocurrency that unites users of the IONChain ecosystem, it will increase its value as more transactions and purchases occur within the network. The distribution will be this way.

source - Whitepaper

IONC token can also be used in the following situations.

Rewards for the IoT devices used as miners
The longer you hold the tokens, the bigger your chance to be elected as the IONChain council member, subject to the Constitution and requirements therein
Compensation for the cost of running data search, statistics and smart contract analysis. Nodes running smart contracts will get awards accordingly
As a transaction fee for transferring the IONCcurrency between accounts, the billing node award is paid accordingly
R&D expense for the developers is a compensation paid by IONC users
source-whitepaper page 30