Ionchain; creating a new era of the IoT
Preface
That's crypto currency and blockchain Since its initiation has experienced enormous growth and development, for it has been seen as a frontier for the future and present of the internet.
The IoT
The IoT is just an abriviation for "internet of things " the IoT is a key component of a fresh new generation of information technology. IoT sees a future where the smart devices we use will be used in an inter connected Wat in the integration of network via;
Identification technology,
Pervasive technology and other
Perceptive telecommunication technologies.
The IoT is exponentially expanding the range of possible internet application as it collaborates with emerging technologies in different fields.
In this publication, I'll be discussing a platform that has stormed the IoT ecosystem with great impact this platform comes with laid down strategies embedded in its Vission to make user-IoT experience a worthwhile experience ....... at this juncture may I present to you ,
Ionchain
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According to statistical analysis gotten from the IDC an international data company based in USA, in 2015 that overall investment in global IoT market was 736.9 billion dollars so it was predicted that certainly, this number will increase up to 1289.9 billion dollars by 2020 ,s this implies that it experiences a 15.02% increment annually.
Even with this exponential growth/adoption there are still some serious unresolved issues and Ionchain comes with a Vission to eliminate this bottlenecks ranging from
Lack of data security and data privacy
There is also inefficiency in data sharing / circular
And making value transactions is also difficult.
Edge computing technology
This technology "is the practice of processing data near the edge of your network, where the data is being generated instead of in centralised data processing warehouse " so by this it implies that the (IoT) device will process it's data instead of of sending it to a data center to be processed this technology will help to eliminate most of the major problems encounterd by the IoT since it existence, it's modificationhas gained attraction from many industries Ionchain making use of this technology will enable then archieve their primary Vission.
One device, one code one coin
Ionization came up wit this concept of the "One device, one code one coin" this will help break the barrier of communication amongst devices and enhance coexistence of different devices in a universal standard .
Ionchain will initiate this through inherently decentralized architecture of the blockchain which itself is optimal for edge computing apps
Origin of ionization
Ionchain has its concept derived from a theory of ionization postulate by a Swedish physicist Arrhenius where he proposed that "ionization is the process by which an atom or a molecule acquires s negative it positive charge by gaining or loosing from ions, often in conjunction with other chemicals "
Ionchain wishes to get in partnership with "global manufacturers and then endowed physically embedded ID codes into all smart device"
This code will act as an identifier on the Ionchain such that any other user who has issue tendering the code will be dinnied access and this will boast security and privacy.
The IPFS
IPFS simply means internet planetary file system. Due to large block of data on the blockchain it's realised that transaction become a bit slow but the IPFS being built for Ionchain for the purpose of tackling transaction speed "without compromising access to relevant data by distributing the storage over multiple devices "
So by separating storage from transactions the data block size and transaction speed problems will be resolved.
. Technical architecture
Based in the concept of ionization, Ionchain uses a unique ionization algorithm to meet the requirements of internet of things;
Ionization algorithm seprates value creation from value transfer as data can now be created locally on smart device i.e IoT smart device and this is made possible through the affiliation oftgr blockchain and edge computing technology.
Let's see how the value generation works
The value generations process is divided into four stages that is the
Value generation
Value verification
Value evaluation
Value confirmation
Value generation
All information is processed and stored separately in smart device as its being converted into a universal standard format and then passed for verification
Value verification
Here "data is processed through a pow/pos combining consensus mechanism unique to ionization "
Then passed on for authentication
Value evaluation
This is simply am authentication stage and here also the data is being protected against infiltration and other security risk then passed for confirmation
Value confirmation
Value confirmation is the final stage of value generation, the day is confirmed and IONC is generated
Value transfer on Ionchain
The value transfer process is divided into 6 different phases ;
Application Layer
Service Layer
Protocol Layer
Smart Contract Layer
Blockchain Layer
Data Storage Layer
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