Preface
Blockchain technology is definitely one of the future infrastructures of the information technology.
Just as cryptocurrencies are being generated day by day, the blockchain technology is being improved day by day.
In December 2016, the “The 13th Five-Year Plan for National Informatization” which was issued by the State Council of China includes the blockchain technology.
Blockchain technology is now collaborating with the various fields of businesses in the world. This is going to be the part of Internet of Things (IoT) for the future information technology.
Major platforms consider this IoT for the communication of the future technology. The communication is being done by the number of smart contracts through number of devices in data form.
Though the IoT communication is going forward, there are issues with the security and other transformation blocks. IONChain aims to solve the issues of the IoT industry through Edge technology.
What Is IONChain:
IONChain is defined as the blockchain bone for the things of internet (IoT).
IONChain is a non-profit organization founded in 2008 in Singapore. This is a IoT infra project for the solutions of the internet issues such as,
- Data security, circulation, sharing, and transactions.
IONChain is focused on a point of "One Device, One Coin, and One Code". It communicates from the same platform even if from the various devices.
Origin:
The Swedish physicist, Arrhenius, proposed the theory of ionization in 1887. The theory says ions are also a fundamental particle int the formation of substances. Similarly, IONChain will act as the underlying link between all IoT devices to support decentralized communication just as ions are the integral elements of the atoms.
IoT Developments and Weak points:
IoT means Internet of Things. At this stage of Internet development, smart devices are connected each other. This is applied in the integration of network through IntelliSense, Identification technology, Pervasive computing and other perceptive telecommunication technologies. So IoT can be treated after the computers and Internet.
The international data company, IDC, stats that the investment in IoT was 736.9 billion dollars in 2015, and it predicts that it could be 1289.9 billion dollars by 2020.
Weak Points:
There is no business model for the IoT market:
Every business needs a particular model, but IoT market still has no model for its business.Privacy and Security:
IoT communication doesn't have strong security or privacy from the threats. We heard a lot of stories of losing by hackers in the data market.There is no clear ability to exchange the systems between the platforms. It needs interoperability between the platforms.
Edge Computing Technology
It is an open platform that integrates network, computation, storage and apps at the network egde. Due to this, IoT can get fast connection, real-time operation, application intelligence, data optimization, security and privacy protection. It will be a bridge between the physical entities and industrial connections.
IONChain Network Built for Edge Computing:
IONChain project first focuses on the data security and circulation, but its intention is breaking the regular platform barriers and establish the network with IoT network nodes of any type or scale though decentralized blockchain technology.
It meets the requirements of the Edge computing so it can make use of full power nodes themselves.
Internet of Things go beyond the interrelation of different computing devices. It was first mentioned by Kevin Ashton in 1999, at the time "thing" could be a person with a heart monitor implant or a farm with a biochip transponder and the list is endless.
On the edge computing, every device is being acted as mining on the network and forms the value. So the data device will be mined by the IONChain Ionization algorithm.
Data Circulation and Exchange
Usually in normal IoT network, data owner can only improve the value and data can be analyzed within a certain scope. But IONChain network removes the limitations and it can speed up the data circulation and exchange.
Value Generation Process:
The process is divided into 4 layers.
* Value Creation
All the devices arre connected in IONChain and they have default on the IONChain consensus protocol, identification code, device identification and other related information are included. All this information encrypted with zero knowledge proof algorithm. All devices on IONChain are mining machines. They can produce IONC coins after certain algorithm verification.
All the IoT devices embedded in IONChain ommunicate via customized IMQTT protocol by IONChain.
Value generation layer is a combination of IoT devices and Edge Computing centers. Due to the limited computing capabilities of IoT devices, it is hard to calculate the value created by IoT devices. On the netowrk, IoT devices upload the relevant information to the minin machines, and the mining machines calculate accordingly to use the DataQuality Proof and Time Lapse Proof algorithms.
* Value Verification
The parties which are interested in the data provided by an IoT device arerequired to complete the value verification. Ater that, the value will be moved to the next layer for evaluation. If the verification fails, the created value is returned as invalid.
* Value Evaluation
This layer is the 2nd tier of value verification. This layer was set up to make sure that the IONChain system is able to counter malicious attacks.
* Value Confirmation
This layer passes the verified value,and then pass on the packaged into the value transfer part, so that the value created by the IoT device is officially present in the IONChain ecosystem in the form of a digital currency.
IONC Token Distribution:
IONChain will give away IONC tokens for the promotion. In this promotion, up to 25% of the total tokens will be issued.
20% of the currency of IONChain platform will beused to support the various IONChain-based DAPPs. After the completion of achitecture, it will work on other commercial applications too.
Every device on the IONChain is a mining machine. IONChain incentivizes IoT to join inwith 25% of the tokens.
10% of the tokens used to incntivize the nodes to provide computing power and storage gaurantee.
20% of the tokens will be provided to the R&D team because of the reason they provided the resources and technical support for the development of the IONChain.
Road Map:
Stage 1
15 August 2017:
- IONChain was founded, core team established.
- Market research and feasibility analysis.
February 2018:
- IONChain Foundation established.
- Released IONChain whitepaper.
- Set up IONChain community.
- Fundraise for IONChain.
May 2018:
- Release of IONChain substructure.
- Release of Genesis Block of IONChain.
- Validate core code and realise cross-platform token transfer.
Stage 2.0
August 2018:
- Launch token incentives. Mainnet start to operate.
- Release Smart Contract version 1.0.
- Optimize Mainnet functions iteratively.
- Launch IONChain wallet.
March 2019:
- Complete patent application of IONChain ID and integrate the telecommunication functions among ID, wallet, and IoT devices.
- Announce 1st batch of IoT devices connected to IONChain.
June 2019:
- Complete examination of 1st generation IONChain Smart Node.
- Construct basic data platform, forming the foundation of ecosystem.
October 2019:
- Launch the first IONChain-based DAPP.
- Smart Nodestrail mass production, and the first IoT application scenario is released.
- Publish industry data analysis.
December 2019:
- Form the preliminary IoT ecosystem ased on blockchain.
Stage 3.0
April 2020:
- Update IONChain service infrastructure for optimal functions.
- Release more Smart Contracts and 2nd generation Smart Nodes.
Team:
Terry Liu, CEO & Founder.
Robert Feng, Tecnical Director.
Danny Yu, Product Director.
Chun Chieh Li, Marketing Director.
Eric Fang, BD and Ecological Construction.
Daniel Wu, Chief Architect.
Consultants:
Useful Links:
IONChain Website
IONChain Bitcointalk Explanation
IONChain WhitePaper
IONChain YouTube
IONChain Twitter
IONChain Medium
IONChain LinkedIn
IONChain GitHub
IONChain Steemit
IONChain Telegram
Use Case:
In future, when the IONChain network comes to use, users can implement this for various cases. A user can user this for censoring his home or office on rapid time to transfer the data.
Conclusion:
It clearly shows that IONChain will be the real solution for all IoT industry problems along with benefits. It connects all devices to one device and do the verification, evaluation, and do the final transformation along with mining by Edge Computing technology.
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