INTRO
The internet of Things (IoT) presents a very interesting frontier, where smart devices are able to communicate with one another, and carryout tasks automatedly.
It has not been smooth sailing however, and some of the problems experienced by the industry are the problems associated with cloud computing architecture-not being adequate, the lack of a business model for the industry, data/privacy protection issues, and lack of interoperability.
IONChain makes use of some innovative solutions to solve these problems.
WHAT IS EDGE COMPUTING?
Edge computing is the technology that IONChain uses in solving issues related to connection, real-time usage and application intelligence. It is an open platform that makes it possible for network, storage, applications and computation to be positioned at the edge of the network.
INTER PLANETARY FILE SYSTEM (IPFS)
Data needs to be encrypted to be better protected. IPFS makes this possible on IONChain, and also ensures that this data can be easily distributed when it is needed. Private keys are required, for users to have access to such data. This ensures that only those that have the necessary clearance are able to have access to it..
The security aspect is handled by the combined computing power of all mining devices in the network. This ensures that hacking ones way through is almost impossible to achieve.
IONChain uses distributed nodes or local nodes to store data.
TECHNICAL ARCHITECTURE
The ionization algorithm is the technology that is used to separate value creation and value transfer. This will ensure that future needs will be met adequately.
IONCHAIN VALUE GENERATION PROCESS
VALUE GENERATION
Calculations are done with the help of data quality proof and time lapse proof algorithms. On completion of value generation calculation, they are moved on to the next stage.
VALUE VERIFICATION
For everyone with a stake in generated data by a smart device, they will need to complete a value verification.
VALUE EVALUATION
Verification of authenticated data is done here, and it involves everyone that has a vested interest. This part is also responsible for stopping malicious attacks.
VALUE CONFIRMATION
Verified value is packaged and sent on to the value transfer portion. Value generated is shown to be officially present in the ecosystem by taking the form of a digital currency.
VALUE TRANSFER
- Application Layer
- Service Layer
- Protocol Layer
- Smart Contract Layer
- Blockchain Layer
- Data Storage Layer
TOKEN
The token of IONChain is called IONC, and also having a max supply of eight hundred million.
USE CASE
Luno, is a startup with interests in smart cities. They need to be able to have data sent back and forth quickly when it is needed. Also the security of data received and sent is a primary concern, and they have lost quite a number of clients, by using data solutions that are based in centralized channels.
Moving over to IONChain will ensure that security is at the best it can be, data flow is unrestricted, and it is also free from hacks.
CONCLUSION
The impact of IONChain on the industry will be felt in many ways, because it intends to lay the groundwork, via its One Device, One Coin, One Code solution, which ensures that a business model for the industry can be set. It also ensures that participating devices can earn mining rewards.
Also, solutions such as IPFS and the application of Edge technology will ensure that high high latency is struck out of the list of problems, and creators can have access to materials that will give them a springboard, from which they can create solutions for the mass market.
The communication between smart devices will be smooth, and secure. Flow of information will not be hampered by this.
A global standard for DApps will also ensure that applications can communicate with one another without any issues. The lack of interoperability will be a thing of the past, when this is implemented.
Edge technology ensures that security is improved and high latency is also eradicated. The blockchain brings an added layer of security, and ensures that the IoT industry can expand and go to the next level. Combining these two will ensure that great progress will be made, when it comes to development in the IoT industry.
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