IOT Systems to get an overhaul with IONChain

Introduction

Technology continues to become an integral part of our modern society and we become more reliant on these machines, algorithms and information networks to create value without human intervention or capture at scale interactions that would not be humanly feasible businesses have turned to IOT.

IOT or the internet of things allows devices to interact, send information, process information, return information, create transactions and much more without a human ever doing anything. These closed loop feedback systems can create cronjobs that execute in real time and provide businesses and data specialists with insights and data that can be fundamental to business growth, and product improvement.

This sort of rapid optimisation has huge cost saving and efficiency benefits that will drive many industries forward for the next 20 years and beyond. However, IOT adoption has been slow and setups are expensive and tedious.

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Problem IONChain aims to fix

Since its introduction, IoT technology has made some great leaps and is slowly starting to integrate with both business and consumer use via consumer products and electronics. However, there is still a lack of cross-device compatibility and global standardization of how they operate.

Integration issues

Centralised services offering IOT all have their own proprietary code and integrations and this can often lead to issues in a multi-touchpoint IOT system which most are and will be in future. IONChain is the ecosystem that will unify smart device technology and enable them to truly become a part of our everyday lives!

Security issues

Having a non-standard integration or having to do workarounds in order for data to be passed to various points opens up opportunities for security breaches. This lack of security and appropriate privacy protection are two of the most serious concerns and a weakness of current IOT systems.

Having so much user data freely available can be easily used by hackers for monetary gain and having centralised servers increases your chances exponentially of a single point of failure attack.

Speed and bandwidth issues

As IOT looks to scale it will require more resources and this is where Network bandwidth increase becomes an issue. As central services struggle to handle the load the drop in call back and response times will start to have an effect on production. This may not seem like a big issue but in IOT where data is constantly sent back and forth, any delays responsiveness may begin to render real-time applications infeasible.

IONChain looks to solve this problem by creating an all-encompassing IOT development solution for plug and play as well as customised creation in order to standardize development, ease of implementation and range of integration all through its blockchain based system.

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What is IONChain

IONChain is basically an IOT integration platform that allows developers to reduce the time and resources it takes to create functional and scalable IOT systems that have various use cases and potential integration options.

Features of IONChain

Global coding standard

IONChain offers IOT providers and businesses a platform to integrate exisitng technologies along with custom solutions to create an easy to use manage, update and scale system that can meet any IOT demands anywhere in the world.

Edge computing

IONChain makes use of Edge computing which is a practice of processing data near the edge of your network, where the data is being generated, instead of in a centralized data-processing warehouse.

Using Edge computing individual devices and the cloud, share the task of processing data. Some of the lighter data processing can be done on local devices, while large computing tasks that are more resource intensive are processed on the Cloud. This helps optimise data processing and increase speed of transactions.

One device, code & coin

What really sets IONChain apart and makes it unique is the idea to break the barrier of communication between different type of devices and allow them to work together by using a universal standard. This is possible via the decentralized architecture of the blockchain which is an ideal backbone for the edge computing application.

IPFS Integration

In order to handle large volumes of data, IPFS has been built into IONChain for the express purpose of tackling transaction seed without compromising access to relevant data by distributing the storage over multiple devices.

IONIZATION algorithm

The ionization algorithm is another unique selling point of IONChain. This code base helps separates value creation and value transfer. Ionization allows for data can be created and processed locally on smart devices, and then latched onto the blockchain network comprised by all the devices working together.

The process creates a more fluid use and better use of resources, by combining the best of both worlds - blockchain and Edge Computing.

Who is behind IONChain

IONChain is based in Singapore and Shanghai with a team of developers who have worked on large-scale projects such as Hyperledger. Their funding is made up of an ICO as well as investment from top private investment funds such as LD Capital, Node Capital, Hashlink Capital and IBC Blockchain Capital.

Technologies intergrated with IONChain

Partnerships with IONChain

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How IONChain aims to improve the IOT market

The market is large, coming as the third wave of global information technology; following computers and the internet. It is expected that 1289.9 Billion USD will be invested into IoT by 2020. The number of devices with IoT software is expected to grow to 30 Billion within the same timeframe.

Using the combination of Multi-layer communication, a global coding standard, Edge computing and One device, code & coin IONChain aims to provide a superior IOT infrastructure that companies of various scales can adopt and integrate into current systems or build entirely new systems based on their technology.

IONChain offers a decentralized solution to this problem, increasing security and the ability to integrate to devices globally meaning expansion and integration with various service providers becomes a seamless process while its access to computing resources makes it a scalable solution over time.

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Application & use cases

So how can IONChain be applied in a practical manner? Have a look at the following use cases.

Use case 1: With human interaction

Let's say you have a store and you would like to know if your marketing efforts directly correlate to an increase in foot traffic into your store. You can set up beams or cameras to identify users coming in and out of your store and count the number of entries per day which can all be stored in a secure ledger and accessed via a dashboard.

As you run various marketing campaigns via your online assets like your website or social media channels or your outdoor branding and advertising efforts you can directly see if there is an improvement in the number of potential customers walking into your store.

You can then match up that data with store purchases from the register and have an accurate reflection of conversion rate and value acquired per customer. This gives you and your store valuable feedback on how to improve and optimise your in-store sales.

Use case 2: Without human interaction

Let's say you have a number of a large garden and watering it isn't always practical during your busy schedule and you don't want to water it when the temperature is also too high or leave it on too long.

Using IOT with IONChain you could connect your sprinkler system to a smart operating system that has light and temperature senses outside and can pick up the ideal time to activate your sprinkler system to water your garden and also gauge how long your garden needs to be watered based on your predefined time settings.

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What I think of IONChain

IONChain has its merits but it also has its the monumental task of not only competiting with centralised IOT providers but blockchain based IOT projects as well. Projects like VeChain, WaltonChain, IOTA and ITC have been quite popular will all 4 projects receiving substantial ICO raises and their tokens are continuously traded on a range of exchanges.

In order for IONChain to really make a name for itself it cannot simply have superior technology or application but through partners and integration with established technologies and services it could build a solid base for gradual but steady adoption and increase over time.

IONChain is definately playing in a space with a huge marketcap and growing need and if they can succeed in even servicing 1-5% of the IOT market it would mean huge upside potential in terms of an ICO investment.

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More Information:

If you found this review interesting and would like to know more about IONChain I encourage you to your own research and check out the following resources.

• IONChain Website
• IONChain Bitcointalk Explanation
• IONChain WhitePaper
• IONChain YouTube
• IONChain Twitter
• IONChain Medium
• IONChain LinkedIn
• IONChain GitHub
• IONChain Steemit
• IONChain Telegram

Disclaimer

This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.

• This is my submission for the @originalworks writing competition found here

• Here is a link to my tweet of this article

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