What is IonChain Project?

tinhkhuat (32)in #ionchain • 6 years ago

IonChain is the latest technology usage to include database networks commonly referred to as fractions.The design principle of IonChain includes scalability enhancement, but with it being careful to be decentralized and to keep security at the highest level. It is important for IonChain to create cross-share transactions to give the best user experience (QoE) in a created ecosystem. This is why it is able to support different platforms and provide an easy to use user account.

IONChain introduces the concept of “One Device, One Coin, One Code” which facilitates the integration of IoT devices with the IONChain blockchain network. With the use of Edge Computing technology, it enables every device on the IoT network to be utilized as a mining machine, making every IoT device that uses IONChain subject to mining rewards.

Owing to the use of blockchain technology, the data source will always be reliable and verifiable on the IONChain network. Furthermore, the value of the data is quantified and data transfers are fast and secured. This makes it easier for IoT standards to emerge, unlocks a plethora of new IoT application scenarios and boosts the whole industry to enter the next level of development.

How does IonChain Work?
IonChain's design principles include improving scalability but at the same time ensuring that decentralization and security are paramount.

Creating a seamlessly cross-linking to provide a quality user experience (QoE) in an incentive-driven ecosystem is key to IonChain, capable of supporting multiple platforms and providing users with easy-to-use accounts. Our design will enable scalability to align with high security requirements with a decent decentralization level.

Sharding is the separation of data from a large database into smaller databases. This is the common way that most centralized systems reach their scalability needs. For example, Ethereum cross-shard operations and are considered to integrate the consolidation process for scalability. - Scalability, Such a network requires at least two operations - one to complete the payment channel and one to destroy the other. The lightining network is not useful for all purposes when a group of users creates repeated transactions between them.

IONChain Amalgamates IoT And Blockchain

Data trading markets: Those on the data demand side, such as enterprises, need user data. Users or enterprises with IoT devices can upload the device data to IONChain and quantify the value through IONC. When users buy cars with the IONChain network, users can get IONC as long as they authorize their data to be used by the data demand side.
Making shared economy a reality: It supports operation authority trading and uses smart contracts to realize device-device interactions and device-user interactions. Take bicycle rental as an example. Anyone can become a lessor or a renter. There are no third parties or service charges throughout the entire process.
Privacy and Security: IONChain stores encrypted data through distributed nodes to ensure data security. At the same time, users get control of the data. Thus, the data can be converted into value under the authorization of the users.
IonChain Features:
Features of IonChain Networks

An important core feature of the IonChain network is that it has been designed from the outset with scalability in mind.
Horizontal Scalability – The network runs each node as a super full node which allows the same level of security against malicious attacks as traditional blockchains.
The network is easy to use, safe, and allows for public participation with the ability to link weak miners together.
The IonChain network deals with super full nodes problem by implementing multiple honest nodes in cluster form which runs like a cluster of super full nodes.

Each node can only validate a subset of the chain, with the union of subsets covering the base chain. This also means if one node crashes the rest will still run and validate blocks by being able to have any two form a cluster.

Using the IonChain design, cross-chain transactions are manageable through token conversion then transaction performance, through cross-shard transactions. There is also an option of offering a subchain to the other chain which would make the cross-chain a cross-shard.

The IonChain network is mobile oriented with DApps supported infrastructure. On-site developer tools will also be offered on IonChain for creation of environments that are Android enabled. Developers will have an ability to create and run viable online (minimal) projects.

The IonChain network also enables small to medium business owners to increase their authentication efficiencies by using the blockchain for their anti-counterfeiting business demands and high-volume transactions.

Roadmap: