IONCHAIN: A NEW MINDBLOWING LAYER FOR IOT BASED ON BLOCKCHAIN AND EDGE COMPUTING TECHNOLOGY.

crystannson (43)in #originalworks • 6 years ago (edited)

INTRODUCTION

In my article today I will be introducing another mindblowing development, based on the blockchain technology. Blockchain is starting a revolution, providing the basic infrastructure required for the successful establishment of a new generation of Internet which transferp values. Also, it is important to know that the revolution has already begun, with numerous collaborations of the blockchain technology with emerging technologies in all ramifications to widen the scope and range of application.
My article today is basically introducing and discussing IONChain, its origin and goals, its applications, a brief look at the overall technical architecture and Economic model.

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Origin of IONChain

The genesis of the platform's nomenclature is scientifical (The science students and scientist will understand better).
The name is derived from the scientific process of ionization as proposed by the famous swedish scientist, Arrhenius. He proposed that apart from the then known atomic and molecular fundamental particles, that they existed ions which are the charges (+ve or –ve) versions of this particles and should also be regarded as fundamental. IONChain is predestined to act as an underlying connecting medium between all IOT devices in other to support the P2P communications among every device.

Setbacks Of The Internet Of Thing

The IOT, its integration and application is widely growing. Below is a statistic showing its development trend in the next 5 years.

However at this stage of uncommon advancement, the following major problems still remain unresolved.

Currently No defined business model has been established for the IOT industry, which is very important factor in every information industry revolution.
Inadequate data security and privacy protection is another tough setback for the IOT industry.
Due to the centralization of the IOT, many obstructions to data sharing and circulation are created.
Another has been the speed problem. The current cloud computing architecture has not been able to deliver in real-time transactions.

IOT INDUSTRY AND EDGE COMPUTING

In terms of fast connection, Edge computing will stand in as a major solution to IOT sector. This is an open platform that enhances network integration, computation and storage at the edge of the users network traced from the data origin. When the conditions are okay, Edge becomes a very paramount optimization layer of the cloud.
The ARM architecture defines processors to include all kinds of nodes connected to the IOT network. Examples range from smart phones to the UAV industrial terminal router.
IONChain is built to compute on the adge this two will merge because IONChain meets the requirements of the Edge computing technology satisfactorily. This allows the concept that any device connected is a miner. After through research the IONChain team designed a concept known as the “One coin code, One device” “device” representing IOT devices, “Coin” represents the IONC and the “code” represents the unique Individual ID code that will be embedded in the IOT devices on the network.

IONChain and IPFS

The problem of large blocks which is always accompanied by show transaction speed is now a known challenge of the blockchain. With IONChains IPFS protocol this issue is addressed satisfactorily. This is achieved by distinguishing data storage from transaction process, which cuts the block size, hnce solving the speed problem. (IONChain smart contracts) with the provision and use of smart contacts tech, users are allowed personalize and design digital agreements which will inturn direct the data trade automatically. This will promote multiple innovative business models since there will exist a significant Data trading Evolution. (IONChain Application) Any economic sector covered by IOT and the blockchain is open to the application of IONChain.
They include;
Because of the decentralized nature of the network it provides efficient Data insecurity and privacy protections.
IONChain is aimed addressin the dilemma of IOT data and monetizing the process which ensures speedy data circulation and Exchanges some Exchanges include B2B and C2B data exchanges.

IONChain Technical Architecture

N/B: this is just a brief overview, for full information, visit the whitepaper.
In other to achieve its goals, [IONChain] network has developed an algorithm (IONIZATION ALGORITHM) which separates the two core functions of the system which are value creation and transfer.
This two layers work Independently that is value creation is solely responsible for creating value, value created by various IOT devices on the network can be merged to form new algorithms which will translate the value generated into IONC coins. Also the transfer layer allows value transfer within the network

Value Creation Process

this is comprised of four categories:

Value Generation. Information Processed to stored in a format later sent for verification.
Value verification. Data is verified using the blockchain pow/pos hybrid consensus protocol.
Value Evaluation. Here data is Authenticated and protected against double spend attacks
Value confirmation. Data is confirmed and IONC is generated.

IONChain value Transfer

All this processes are categorized into six layers;

Application Layer
-Service Layer
Protocol Layer
Smart Contract Layer
Blockchain Layer
Data storage Layer

Used case

Mary has always had the problem of leaving the dish washer on while going to bed. Shewould never believe that automation could be provided by IOT. She is informed about IONChain and luckily she can purchase a smart dish washer with the IONChain protocol embedded to respond her smart lock on the kitchen door.
After Installations, Mary doesn’t have to worry about the dish washer anymore because by locking the kitchen door, the dish washer automatically trips off.