IONCHAIN.ORG: THE PRESENT AND FUTURE BLOCKCHAIN BACKBONE FOR THE INTERNET OF THINGS (IoT)
In the world where people are engaged with so many activities and barely have spare time to get things done at their desired time; technology, innovations and inventions has made things a little much easier by reducing the task and workload of humans.
Our appliances at home and in our work place has reduced the work burden to a very large extent. A lot of devices and appliances have been created for our comfort but the little challenge is that we still have a role to play in operating those devices to function when and how we want them to. This process could be stressful especially when we have so many things to get done with.
For example, turning on a celling fan, requires one getting up to turn it off when he no longer want it on.
ABOUT IONCHAIN NETWORK
IONChain is a non-profit foundation ,founded in Singapore in early 2018 by a team based in Singapore and Shanghai. Its name originated from the Swedish physicist Arrhenius's theory of ionization: thus, IONChain, the ions which will bring the molecules that represents all devices across the globe of IOT together.
IONChain is an internet of things(IoT) designed project which aims at solving challenges such as:
• Data Security
• Data Circulation
• Data Sharing
• Data Transactions
IONChain will bring about global standardization of the way data is interpreted and make the communication of all devices over the IoT network the same, no matter what device is been used for operation.
IONChain aims at creating a compatible ecosystem which can be accessible and used by virtually all, thereby making it part of their everyday lives.
THE INTERNET OF THINGS (IoT): ITS OPPORTUNITIES AND CHALLENGES
The internet of things is seen as the third on the hierarchy of global information, following computers and internet. It has an increasing market and a future investment of over 1289.9 Billion USD. Speculation has it that the number of devices expected to key into this technology is over 30 Billion within the same timeframe.
The two major challenges faced in the IoT industry are lack of security and privacy protection. Users are not in charge of personal data submitted to the system. This is because the system is centralized in nature and further gives room for hacks and fraud.
IONChain comes in as a decentralized solution to these problems by increasing security and the ability to integrate to devices worldwide.
EDGE COMPUTING WITH BLOCKCHAIN TECHNOLOGY
The blockchain is an incorruptible ledger of financial transactions that has been designed to take record of financial transactions and everything of value.
Edge computing is a technique used in optimising cloud computing systems. Here, data is been processed at the edge of the network, close to where the data is generated. The device will fully be in charge of processing data and not having to go through any data center for processing. This method will bring about lower operating costs, reduced network traffic, real-time data analysis and an improved application performance.
The collaboration of blockchain technology and edge computing will achieve IONChain goal of decentralization. Edge computing which do not have to send data to a central point for processing will to a large extent protect users personal information, thereby ensuring privacy to a large extent. A users private data not having to go through processes will also encourage fast transactions on the network.
IONChain makes it possible for individual devices and clouds to collectively share the task of precessing data. Smaller data can be processed on the local device while cumbersome data can be processed on the cloud.
IONChain AND THE IoT INDUSTRY
The longtime vision of IONChain is to partner with manufacturers around the world and physically embed unique ID codes into all smart devices. This ID will make the device stand out, secure and standardized. This will also be joined with its system software in the form of data conversion, data packaging tools, data processing and nodes for the internet of things foundation.
IONChain will have a great impact in the IoT industry because it will bring about security and exceptionality in its operations.
The IONChain ecosystem will greatly improve the way smart devices are used and communicate with each other because its ionization algorithm enables each device on its IoT network to be a miner. The rewards users based on data volume, time, volume, space......
This will also bring about a mass adoptability of IoT because every time spent has value
THE IMPACT OF ONE DEVICES, ONE CODE, ONE COIN
IONChain looks forward to implement its core concept of one device, one code, one coin. The device stands for the "IoT devices" within the IONChain ecosystem, Coin stands for "IONChain cryptocurrency" while code stands for the "unique ID" and alternatively, a wallet within the IONChain network.
The IONChain will help break whatever barrier of Communications that might arise between different kinds of devices and allows them to work and function together using a global standard. Here, no device will be excluded from partaking in the transformation which will greatly influence majority who have embraced IoTs.
IONChain VALUE GENERATION
The four(4) generation value includes:
• Value Generation
• Value Verification
• Value Evaluation and
• Value Confirmation
FOUR LAYERS OF VALUE TRANSFER
(1) Application Layer
(2) Service Layer
(3) Protocol Layer
(4) Smart Contract Layer
(5) Blockchain Layer
(6) Data Storage Layer
Use- case
Mary brought her aged parents to come live with her. Their presence kept her on her toes because she has to multitask to ensure they are comfortable. This affected her job in a bad way because she had to be always present to put on and off some devices for her old parents. When she heard about IONChain, she keyed into it because she could now Programme the house activities as she wants without necessarily been around her parents all the time. With this, she could now focus more on her work with the assurance her parents are fine.
IONChain TOKEN
The IONC is the token of IONChain ecosystem. It can be utilized in so many ways over the IoT:
• Rewarding miners
• Enables users to be elected as council members
• Transaction fee settlement
• Compensation for smart contract computation and DApp deployment
• Rewards users who connects to other ION nodes, e.t.c
Conclusion
The IONChain network in collaboration with the internet of things will greatly ease the workload of humans and will enable them focus on other things. This will help them produce more results each. It also ensures security of private information of users.
PLEASE NOTE
IONChain.org is the IONChain website. It is not related to IONChain.io. That is an entirely separate entity
For More Information & Resources:
WHAT I HAVE TO SAY ABOUT IONChain
• IONChain Website
• IONChain Bitcointalk Explanation
• IONChain WhitePaper
• IONChain YouTube
• IONChain Twitter
• IONChain Medium
• IONChain LinkedIn
• IONChain GitHub
• IONChain Steemit
• IONChain Telegram
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