IONChain - a better player in the IoT industry

okipeter (52)in #crypto • 6 years ago (edited)

Introduction:
I am currently a final year student of the department of Computer Engineering in the University of Benin, Benin City, Nigeria. My project topic is to propose a platform secured smart house, where devices in the house were all controlled by the resident of the house in a swift, seamless and automatic manner. After much deliberations, I discovered that I needed the Internet of Things (IoT) to achieve this.

My approach was to develop an algorithm that sends signals from a central device, to other devices in the smart house, preferably through Bluetooth. However, upon doing numerous research, I discovered that the IoT network I intended on building was not fully secured, and it could be hacked at anytime. Once the IoT network could be hacked, the smart house could be accessed, by any person. This defeated the aim of my project.

Problem Definition:
The aim of my Project is to make life easier and comfortable for intending residents of my smart house. However, the security of my smart house is yet to be guaranteed, and this has greatly impeded the aim of my project. Security is one of the numerous issues rocking the IoT. These issues includes:

Lack of Data Security and Privacy protection
Lack of Interoperability between platforms
Business Model for the IoT Industry not yet established.
Shackles of Cloud computing architecture.

Lack of Data Security and Privacy Protection:
In the last faculty elections done in my faculty (engineering) in the University of Benin, my department was tasked with building an online election software, which the department successfully did. This online election software was used to conduct the election, and winners emerged in the different categories that were contested for. However, upon further review, it was discovered that data of over 50% of the students in my faculty were hacked, and these data were used to manipulate the results of the election to favor an individual. The hacking of the data was made possible and convenient, since all data of my faculty students were stored online in a centralized database.

This is one of the issue rocking the IoT industry. The IoT is bound to hold delicate and intricate information, hence data security has to be ensured.

Lack of Interoperability between platforms:
A percentage of the world’s population is on facebook. Facebook holds the data of these percentage of the world’s population, and it is a major player in the data sector. In the case of my smart house, which requires the data of users, there is way I can get the type of data which facebook holds, since I am not a major player in the data sector. This is a big snag to my project. The easiest way to solve this, is to create an interoperability between facebook and my smart house project. Through this way, the user data can be effectively used.

Business Model for the IoT industry not yet established:
Over time, it has been proven that the best way to fully achieve the potentials of an industry, is to create a business model for that industry. We have seen it happen with alibaba.com, Microsoft, Apple, Amazon etc. These guys each developed a business model for the Internet and Computer hardware, and this ensured that full potentials were reached. However, it is said to state that we are yet to see a business model for the IoT.

The Shackles of Cloud Computing Architecture:
Delay is a dangerous factor. In the trading sector, if a trader delays in investing, this might ultimately cause the trader to either gain or lose profits. The same thing comes to play in the IoT, due to cloud computing. IoT network is bound to be built on cloud computing, and cloud computing typically experience delays which can be measured in milliseconds, from the perception stage to execution stage. This is slow, for real time applications (like my smart house).
The need for a new IoT infrastructure cannot be overemphasized. This new infrastructure should be able to leverage the properties of the blockchain to provide an IoT network free from all issues. This infrastructure is IONChain.

IONChain:
What is IONChain:
The Swedish physicist Svante Arrhennuis was the first to postulate the theory of Ionization, which basically states that ions link themselves together to form atom. Taking ideas from this, I can state that IONChain acts as a link between IoT devices present in an IoT network. Hence, it is safe to state that, IONChain is the ion, while, the IoT is the atom.
IONChain was founded in Singapore, early this year 2018. IONChain uses the blockchain’s smart contract protocol to ensure that all IoT devices connected to the IoT network are highly secured, and communicate in a privately secured P2P manner.

One Device, One Coin, One Code:
IONChain brought about the most efficient concept to connect IoT devices. This concept is known as ‘One Device, One Coin, One Code’.
‘Device’ stands for IoT devices which would be connectd to the IONChain network. These devices, through zero knowledge proof algorithm would have IONChain consensus protocols and IONChain identification codes, which would be encrypted and stored within these devices. Through these identification codes, data from these connected devices can be spotted and traced in an inimitable and dependable manner.
‘Coin’ stands for IONChain coin (IONC). ‘Code’ stands for the identification codes for the IoT devices present in the IONChain Network.

With this ‘One Device, One Coin, One Code’ concept, a standard that would be universal and widely accepted is created.

This standard would bring about a way for different types of devices present in the IONChain network to communicate with each other. This would bring about an insurmountable increase in the quantity and rate at which value can be exchanged within the IONChain network, thereby ensuring and propagating the mass adoption of IoT tech.

This standard would also ensure the seamless running and functionality of decentralized Applications, which would be developed for the IONChain ecosystem. These daPPS would then be integrated to all IoT devices connected to the network.

IONChain and Edge Computing Technology:
Edge computing is a data processing architecture that ensures that the data generated by users are processed at the edge of the network, which is very close to the source of the generated data.

IONChain opted to use edge computing prevents the delay caused when data are sent to centralized computing tech for processing, since with edge computing, the numerous smart devices in a network could be used as data processing stations.

Another benefit of edge computing tech is that the users are in charge of their data, since their data is processed very close to them. Users can then decide who access their data and can also be incentivized by companies/individuals who sought after their data.

IONChain System architecture:
IONChain system architecture operates on a protocol known as Ionization algorithm. The name was gotten from the theory of ionization, which was proposed by Svante Arrhenius.

The IONChain team did their research and discovered that the protocols that presently combine value creation and value transfer were not effective, and they had numerous loopholes. They then brought about Ionization algorithm, which separated the two processes.

IONChain and Value Creation Process:
On the IONChain Network, there are four process that are used in creating process:

Value Generation:
This is concerned with the creation of the user data at the IoT device of the specific user. With the IMQTT protocol, IoT devices on the IONChain network can exchange data and transfer data. When data are created at the IoT device, edge computing technology is used to process the data (close to the user), and then the data is passed unto the next stage

Value Verification:
The value created and processed has to be verified by all parties involved in the transaction. Once the value is authenticated, the value is passed unto the next stage.

Value Evaluation:
To prevent malicious attacks on the system, such as numerous spending, the value is passed through a process to ensure that all parties involved in the transaction are aware of the contents, details and conditions of the transaction. Once this is done, the data is passed to the next stage.

Value Confirmation:
Once the data passes through the preceding stages, the data is organized and then passed along to the transfer section, so that it can be converted to IONC coins in the network.

IONChain and Value transfer:
This aspect consists of six parts

Application Layer:
This is the user interface of the network. This layer gives user access to the IONChain network via their smart devices. This layer uses the REST API interfaces which are based on the HTTP, and it includes the following services built-in: data validation, data query, vendor query, device registration, wallet query.

Service Layer:
This is the interface meant for end-uses. This layer interfaces the components and functions of the network, via the binary-based GPRC protocol. Presently, this layer is only for internal components. However plans are in the pipeline to ensure that this layer is available for core nodes.

Protocol Layer:
This layer ensures a unified access protocol consisting of, but not limited to, consensus protocol, network protocol, currency swap protocol.

Smart Contract Layer:
This is a vital layer. This layer ensures the protection of parties involved in the value transaction. This layer achieves this by ensuring that the data stored on the blockchain are used safely and legally. Once this layer detects otherwise, value is sent back to the incoming source.

Blockchain Layer:
This layer is the core layer. This layer uses a new customized algorithm, known as IPOS algorithm. The IPOS algorithm is a robust protocol, and it is difficult to break. This algorithm is an upgrade to both the POW and POS algorithms.

Data Storage Layer:
There are two ways to store data on the blockchain with IONChain. The IPFS and BigChainDB. It is a known fact that a large block of data would results in the reduction of transaction speed. The Inter Planetary File System (IPFS) storage ensures that IONChain carries out transaction in a timely manner, without the access to blockchain stored data been compromised. This is achieved by data been stored on multiple devices, and also differentiating and separating the storage process and transaction process.

IONChain Token (IONC):
The IONC token is the crypto which the economic model of the IONChain network is built on. The IONC token powers the IONChain network is the IONC. The maximum supply of IONC is 800 million tokens. The team has given 20years as the time frame to gradually relase the IONC token.

All IoT devices which are present in the network and which participate in mining by engaging in trading of value are to be rewarded with IONC tokens.

Benefits of IONChain:
Solution to the Data security and privacy protection issues rocking IoT:
IONChain is based on the blockchain, and thus, it uses decentralized storage methods to ensure the storage of data. With these decentralized storage methods, data is encrypted, safely store and private to the user, since the user is in charge.

Data trading market:
With IONChain, a data trading market is created. Any company/individual can be sure of getting data from willing users of IONChain, and these users are also sure of making cool cash, via the exchange of their generated data.

A true and fair data sharing economy:
With IONChain, all parties interested in getting data generated by user are sure to be given the same treatment, regardless of whether the party interested is a major player or not. This is due to the smart contract protocol, which ensures that anyone can buy and/or sell data, and also ensures that the data are used in a safe and legal manner.

Improved User Experience:
With IONChain’s use of Edge Computing and Blockchain technology, users are bound to get an improved user experience, consisting of speed, security, privacy, etc.

Application and Use Case:
Onome has company dedicated to the creation of high heels for ladies. However, Onome needs to know the number of the different colours of shoes to create. She wants to maximize profit. She hears of IONChain, and then she decides to give it a try. She goes to IONChain and purchases data from the ladies staying in her region. These data specifies the colour of shoes which each ladies prefer. With these data, Onome knows the number of different colour of shoes she needs to make for her region, to ensure that profit is maximized. Thanks to IONChain.

Conclusion:
With IONChain ensuring the security of data, I am sure to attempt my “smart house” project, albeit later in life. This would enable me achieve my aim of making life easier for people.
Also with IONChain, the way values would be treated changes. I mean, if I am able to make cool cash from selling my data to interested parties, that is a big advantage. On the hand of companies, if companies can know what their intended market want via user generated data, they are bound to make more profit.
I don’t know about you, but to me IONChain is currently the best way to propel the IoT to the next level.

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