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.
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,
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.
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.
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.
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.
* 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.
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.
15 August 2017:
February 2018:
May 2018:
Stage 2.0
August 2018:
March 2019:
June 2019:
October 2019:
December 2019:
Stage 3.0
April 2020:
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.
This post is published for the contest of 
Here is the link for the post of the contest:
https://steemit.com/crypto/@originalworks/1300-steem-sponsored-writing-contest-ionchain-org
ionchain2018
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