Blockchain + Internet of Things: IONChain.
If you have not been born in the generation of applications you will have realized how simple it is today to do any management. With a couple of clicks you solve any problem and that stored information can be used to automate other processes. You no longer have to queue to do the same thing over and over again, or re-fill the same form. That type of connection between process and data or between devices is only the tip of the iceberg of what is coming.
To date, experts predicted that one of the engines of digitalization would be the Internet of Things ("IoT", the acronym in English of Internet of Things); that is, the interconnection of objects with the internet by which the devices communicate with each other. Or in other words, the technology by which the electronic devices you have at home "talk" to each other. They interact in multiple ways. It has worked so that from these devices connected to the internet receive instructions of all kinds, such as quoting your virtual assistant the shopping list (and to execute that action) or being able to connect the "smart TV" to your account a digital service.
All this has opened up a host of possibilities and, now, the voice seeks to be the new element of interaction between the human and the machine. The problem of applying this concept to the public spectrum has been until recently the absence of a "verifier" (a kind of notary who checked each step and authenticated it). A shame when it comes to ending those long waits when you have to do any bureaucratic paperwork. However, this problem seems to have been solved with the arrival of another technology, the "blockchain".
This innovation, more or less recent, is known to be the basis of the existence of cryptocurrencies. But, in turn, by its nature and potential it represents a new panacea for the private and public environment. What became popular with bitcoin is nothing more than a great hyper-connected book. It works as if the movements of your bank account were linked between them and linked to those of many other users, but with the difference that one by one they are verified and modify them would involve changing the whole set at once, which is unlikely.
But the "blockchain" is not only for cryptocurrencies, but offers one of the many uses to which blockchain technology can be applied. Although the social perception of cryptocurrencies is very different (from the love of hate), the truth is that their technology has dazzled the business sector in terms of digitization. "There is a very strong movement that goes towards digitalization and transformation in general, because of the way we relate to suppliers, partners, customers and others. And that generates that need for change.
Blockchain allows you to do things that if we did them with the previous technology would be very complicated.
Many companies are interested in making their own "blockchain" network. The question is clear, why? What can be special about this technology for companies to want their own network? "Blockchain allows you to do things that if we did them with the previous technology would be very complicated. If we wanted to integrate with a thousand suppliers at the same time, we had to do it one by one. It is a new way of communicating things ».
Can blockchain become an IoT enabler?
Of course, because IoT is naturally compatible with blockchain; for example, both blockchain and IoT are distributed networks and, therefore, some current IoT problems, such as value measurement, circulation, security and interoperability can be solved with blockchain account book technology and the economic system of tokens.
IoT must enter the main market if it wants to prosper. Therefore, an integral underlying solution is necessary. A recent project, IONChain, combines IoT with blockchain in an attempt to convert the potential consumption of IoT technology into real consumption.
IONChain: Everything could be a mining machine.
IONChain exposes the idea that "everything could be a mining machine". What is "everything could be a mining machine"? This means that once all the IoT devices are connected to the IONChain network, you can get mining rewards through an "Ionization Algorithm". The incentive for the IoT device to access IONChain comes in the form of a token called IONC. With the value measured and distributed by IONC, companies and users will be motivated to connect the device to IONChain, so they can have a better experience and earn rewards at the same time.
"Everything could be a mining machine" by connecting each segment of the industry through a token incentive system, on this basis, IONChain has also mentioned the concept of "a device, a currency, a code", where "device" refers to the IoT device, "currency" refers to IONC, and "code" refers to the ION code. Unique identification of the IoT Device connected to the IONChain network. The main purpose of implanting identification codes in the IoT device is to link data and devices.
Everything could be a mining machine, not only solves the problem of mining incentives, but also equips IONChain with the cutting edge computer framework. Together, IONChain and the cutting-edge IT framework meet the demand for quick responses.
IONChain: Cutting-edge technology
If the current IoT is dominated by cloud computing, the future will be edge computing. In contrast to the growing load of servers, most IoT terminal devices remain inactive. Therefore, a more reasonable and efficient solution is to use those inactive computer resources and assign partial tasks or most of the tasks to the nodes of the device. IONChain is the first team to discover great values outside cutting-edge computing and has been dedicated to applying this technology to the IoT as soon as possible.
Its objective is to create a public chain of fund in IoT, to promote the common prosperity of its ecosystem and to solve some existing problems of IoT in the security of the data, the circulation, the exchange and the distribution. At this stage, IONChain is focusing on the CIoT market.
Compared with IIoT (Industrial Internet of Things), CIoT (Internet of Consumer Things) is characterized by a short processing distance to users, wide network nodes and easy access to energy, etc. Therefore, it is more possible to face challenges such as the explosion of IoT applications and the overload of the network that must be addressed urgently. IONChain chooses the reduction of dimensionality in the current volume of IoT data transfer through perimeter computing to perform load reduction in CIoT.
The well-designed structure of the network matches perfectly with the structure of edge computing. The ION based on IONChian can make full use of the compute capacity of the nodes and fulfill the computing and storage tasks of the terminal devices. After transferring computing tasks from the cloud to nearby nodes, the network load was shortened. With high reliability and high response capacity, IONChian greatly improves user experiences in the IoT.
Chemical reactions between IoT and Blockchain under IONChain
Here are some cases in which IONChain can be applied successfully to IoT at the consumption level.
Creation of a data commerce market
Those on the demand side of data, such as companies, need user data. Users or companies with IoT devices can upload device data to IONChain and quantify the value through IONC. When users buy cars with the IONChain network, they can obtain IONC whenever they authorize their data to be used by the data demand side.
After obtaining user data, the data demand side can also place advertisements in their cars. Once this has been approved, users can obtain token incentives again. These chips can be used for refueling, maintenance, car washing, etc.
Realize the true shared economy
IONChain supports trade in operational authority and uses smart contracts to perform device-device interactions and device-user interaction. Take bicycle rental as an example. Anyone can become a landlord or tenant. There are no third parties or service charges during the entire process.
Security and protection of privacy.
IONChain stores encrypted data through distributed nodes to guarantee the security of the data. At the same time, users gain control of the data. Therefore, the data can be converted into a value under the authorization of the users.
Perimeter computing to improve the user experience.
IONChain adopts advanced computing methods to improve response speed by implementing nearby nodes. For example, large storage companies implement RFID devices with private cloud data centers. However, when the business extends to many new stores in different locations, there will be a waiting time, which will decrease the overall efficiency of the administration's responses. This is where IONChain is useful. The implementation of nodes in warehouses can significantly reduce the response delay.
IONChain ionization algorithm: stratification of the creation and transfer of value
First, in terms of the technical architecture at the macro level, IONChain is similar to many blockchain projects. This architecture includes the application layer, the service layer, the protocol layer, the intelligent contract layer, the blockchain layer, the storage layer, etc. But below this similar surface, IONChain has its own unique feature: the ionization algorithm. By separating value creation and transfer, IONChain can implement different consensus algorithms for different devices. This process is also related to recent changes in the diversification of the IoT device.
The value creation system of IONChain.
The value creation system of IONChain is divided into four layers: value creation, verification evaluation and confirmation. The IoT device and the perimeter computing center combine to perform value creation.
The IONChain value transfer system.
The IONChain value transfer is divided into six layers: the application layer, the service layer, the protocol layer, the intelligent contract layer, the block chain layer and the data storage layer.
The foundation of the IONC value.
IONC facilitates the storage and circulation of IONChain securities. It is mainly used to reward device providers and data access. It will increase annually with the growth of access to data, but there is a limit to this growth. Owners of the IoT device can receive IONC by accessing the IONChain network and loading the encrypted data from storage.
In terms of IONC consumption, manufacturers that need the valuable data produced by the IoT device will be willing to buy IONC. When paying IONC, they will get data from the device. Then they can analyze the data for commercial benefit.
The IONC value originates from the number of devices accessed and the amount of valuable data generated. As more IoT devices connect to the IONChain network, more valuable data will be generated. This will increase the demand for IONC. The number of IoT devices must reach a certain scale before companies have the desire to buy device data in IONChain. Ultimately, the value of IONC is based on the depth and scale of its integration with the IoT.
IONC token IonChain will use the IONC ERC-20 token based on the Ethereum block system. In the future, the currency will be transferred to the IonChain blockchain.
Token will play the role of an exchange unit among the members of the network, providing a secure payment method in the IonChain network. The system provides mobility support and infrastructure for the launch of decentralized dApps applications.
Third-party developers will have access to tools to create ecosystems with Android support. They will be able to create and execute viable online projects. The network will also allow small and medium business owners to increase the effectiveness of their authentication by using a chain of blocks for their business needs with a boron purpose.
In conclusion, traditional perimeter computing, with its reasonable planning and the type of date distribution, has given local networks and terminal devices computing tasks, which basically solved the first two questions. However, for the latter, the main edge computation only shortened the data transmission route and avoided a portion of the risks. They did not completely solve the problem.
IONChain's advanced and professional vision team skilfully combines perimeter technology and blockchain, trying to find a way to avoid the third source problem. The encryption of Blockchain is propitious to solve the last problem: to eliminate the flight of data in the transfer.
In addition, both the nodes in IONChain and the devices in the perimeter network have certain autonomy: each device in perimeter computing can independently determine which data is stored locally and which data is sent to the cloud. After technical innovation, IONChain involves the storage of data in "computation", which in the past was merely for data entry and output of results. The data in the IoT, especially for the storage and permission of confidential data output, are highly protected.
Without a strong R & D team, IONChain would not have arrived until now. In the last three years, IONChain has provided systematic and integrated solutions for nearly 20 blockchain projects, helping them launch their products. Two members of the team are the backbone of the core team in Hyperledger.
The last twenty years have witnessed a tremendous development on the Internet, which has fundamentally changed our lives. The "Internet of things", born of the Internet, will be our future. IONChain, by integrating advanced perimeter computing and blockchain technologies, could be as close as possible to CIoT.
More Information & Resources:
This is my entry for the @originalworks contest
My twitter link: https://twitter.com/hasbydiaz/status/1059841280547663877