IONChain is the ecosystem that will unify the technology of intelligent devices and allow them to truly become part of our daily lives!
IONChain is an IoT infrastructure project that aims to solve problems such as:
• data security
• data circulation
• share data
• data transactions
A non-profit foundation, founded in Singapore in early 2018
IONChain will make the communication parameters of all the devices through the IoT network equal, regardless of the device used. By standardizing the way in which data is interpreted, it will allow them to implement their vision: “A device, a currency, a code”.
While IoT technology has gone very far, there is still a lack of compatibility between devices and the overall standardization of their operation.
The name of IONChain has its origin in the theory of the ionization of the Swedish physicist Arrhenius: IONChain will be the ions that hold together the molecules that represent all the devices in the universal Internet of things
Integration of the interplanetary file system (IPFS)
Currently it is understood in the Blockchain industry that with slow data blocks slow transaction speeds are produced. IPFS has been incorporated into IONChain for the express purpose of addressing the origin of transactions without compromising access to relevant data by distributing storage across multiple devices.
By separating storage and transaction, the contradiction between the size of the data block and the speed of the transaction can be overcome.
Technical architecture: ionization algorithm
“Ionization is the process by which an atom or molecule acquires a negative or positive charge by winning or losing electrons to form ions, often together with other chemical changes.”
The ionization algorithm separates the creation of value and the transfer of value. Data can be created and processed locally on smart devices, and then connected to the blockchain network composed of all the devices that work together. This allows a more fluid use, combining the best of both worlds: blockchain and Edge Computing.
IONChain value generation
The process of generating value can be divided into four main categories:
Generation of value:
All information is processed and stored in each individual smart device. The data is converted to a standard format and that data is passed to the value verification.
Verification of value:
This is the part that we are all familiar with as blockchain. The data is processed through an exclusive PoW / PoS combination consensus mechanism of IONChain.
This is where the data is authenticated and protected from double-spending attacks.
The data is confirmed, and IONC is generated!
The process of generating value can be divided into six layers:
- Service layer
- Protocol layer
- Smart Contract Layer
- Blockchain layer
- Data storage layer
IONChain use case
By integrating the [IONChain] protocol (https://www.ionchain.org/) into various IoT devices from different manufacturers and industries, a large amount of dAPP can be created to help facilitate the optimization of these devices.
Think of the exchange of data between your air conditioner and an intelligent lock. Allow the air conditioner to turn on automatically when you enter your building. All IONChain Connected devices can be programmed to execute actions that depend on the data received from other IONChain Connected devices. This can be applied with multiple devices. The more manufacturers implement the IONChain protocol in their devices, the more possibilities there will be to automate their operation in relation to the dAPP. IONChain has already partnered with several large IoT producers and aims to unify these manufacturers by incentivizing them to use the protocol by creating revenue in the IONChain ecosystem. As a result, IONChain users are also encouraged to use IONChain Connected devices in traditional smart devices for the reward they are given in exchange for data extraction. The more useful the data (the more the dAPP use them), the more IONC can be extracted.
All intelligent devices that implement IONChain at the manufacturing stage can be part of IONChain’s largest ecosystem. The air conditioning system of your home, television, kitchen appliances and more.
Imagine that your dishwasher turns off when the bedroom lights come on, as that indicates that you want silence. Imagine that the engine of your car starts when you leave your house. Imagine a world where all intelligent devices can work together to determine the best course of action based on the DAPPs developed through IONChain!
Conclusion of IONChain
IONC, the IONChain token can be used over the IoT in many different ways: rewarding miners, allowing users to be elected as members of the IONchain board, compensation for intelligent calculation of contracts and deployment of DAPP, liquidations of transaction fees, rewards for connecting other ION nodes, etc.
It is also incredibly robust and resistant to dynamic and variable network failures and vectors of malicious attacks. It requires the practicality of PoS and the strength of PoW to create a true hybrid that separates the verification and the transfer of value so that both can be performed with exceptional speed and security.
IONChain.org is the IONChain website. It is in no way related to ionchain.io. That is a completely separate entity.
Ion chain team
More information and resources:
IONChain website: https://www.ionchain.org/
• Explanation of Bitcointalk from IONChain: https://bitcointalk.org/index.php?topic=5034569.0
• IONChain YouTube: https://www.youtube.com/channel/UC-wi7uAGZ9Wr5yeVVOycm_A
• IONChain Twitter: https://twitter.com/IONChain
• IONChain Medium: https://medium.com/@ionchain
• IONChain Steemit: https://steemit.com/@ionchainofficial
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