IONChain - A New IoT Platform based on Blockchain and Edge Computing

mundarainale (48)in #originalworks • 6 years ago (edited)

Introduction

Any object that can be assigned an IP address and given the ability to transfer data over the network is part of "The Internet of Things" or well known IoT, an extension of the Internet that merges operational technology (OT) with information technology (IT). Although this technology does not reach its highest point since various concerns are already raised, by the fact that when it reaches the highest level of adoption and the reach of the Internet is further developed, all devices will be connected. This makes us wonder how private and secure our data will be and whether we really have absolute control over it.

IoT has decades in development but it is until this nascent digital and computer age that its development and application in different fields has been boosted. As we have realized the IoT is not the only technology that is booming because if you have read my previous post Blockchain technology has also been able to incorporate and / or merge with different tools profitable and innovative, but what would happen if both forms of technology came together?

I'll tell you what has already happened! In 2017 the IOTA project created its system based on "Blockchain+IoT" to solve the problems in M2M transactions and some weaknesses of the IoT but without any mining incorporated. This year was born a project whose premises seem to be the same as those of IOTA "to solve the weaknesses of the IoT" but that comes with a much more worked and complete structure, is called IONChain!

IONChain

Based on the theory of the Swedish physicist Arrhenius on ionization this project aims to solve several problems present in the IoT becoming an underlying particle of it. Its objective is to provide security, circulation and data transfer, which is why it uses encryption and other features of Blockchain technology.

Its main premise is:

"a device, a coin, a code"

This concept perfectly sums up the idea that IONChain presents to the market, i.e. a network of IoT devices with a unique identification code whose stopclock is its IONC monera.

The blockchain technology comes into play together with Edge Computing to make the network a fluid network in which the creation and transfer of value is effective, on the one hand the blockchain technology connects to the nodes of the network and Edge computing decreases the response time of the IoT because the data are processed in the devices but when they are very past is made from the cloud, with both ingredients the nodes will be connected despite how decentralized they are because IONChain is the link between the devices.

Network Complements

The IONChain network incorporated in its architecture different computing tools to create a broad and effective ecosystem, another of its ingredients is the protocol "InterPlanetary File System" (IPFS) whose purpose is to solve the problem of slowness that exists when in the blockchain there are very large blocks, with this protocol is provided to the platform a block storage model of high performance and content.

On the other hand, the ionization algorithm implemented in the network separates the transfer and value creation as an adaptation to the fact that in the IoT there are a variety of devices and each of them creates different value. Both processes are carried out separately and layer one fulfills certain stages until its completion.

Value Generation Process

Value Generation
Value Verification
Value Assessment
Value Notification

Value Transfer Process

Application layer
Service Layer
Protocol layer
Intelligent contract layer
Block chain layer
Data storage layer

Currency IONC

The IONC is the digital crypto currency that activates the entire IONChain network and symbolizes the ionization used by the system in its architecture. With this coin all IoT devices have access to the network and with it access to a variety of functionalities within it.
This token serves as the basis for other premises of this platform:

"One mining machine for all things"

That's right! IONChain incorporates into its network a mining system that allows all IoT devices that are connected are favored to receive as a reward the amount of token that corresponds, that value will be measured according to the value provided by the device through a consensus algorithm that will measure their contributions in scales of quality and time.

This incentive system is made for everyone, both companies and independent people acting as miners within the network and may opt for classification charges according to their results.

Contributions to IoT

The IoT is considered by many as the third wave of information and will continue to expand if it is merged with the tools that reduce to a minimum level the problems that arise in it from now, is for this reason that the excellent team of IONChain has taken the task of joining two great technological powers in full swing as the technology blockchain and IoT itself, is thus born from a scientific theory of ions an economic network that will be a driver of "the internet of value".

When I talk to you about the problems that already arise in the IoT, I mean the lack of security and privacy that we all worry about when we talk about the Internet, data and assets. Addressing different premises and conceptualizations IONChain sets its goal in achieving security, flow and trade that is sought in the IoT. In it each node will have its identification so that the data generated are authentic and reliable without the need to centralize the nodes in the same place.

The blockchain provides that security and encryption of the data and decentralizes the information through P2P methods that spread the information but keep it encrypted for the user who has the access key, this is how we move away from hacks and fraud but keeping traceable information for us as owners of the same, in addition to facilitating the integration of IoT devices worldwide.

IONChain has many applications and no doubt will positively change the IoT industry, otherwise Chinese investors and companies would not be investing millions in this project, with 800 million in IONC tokens this network is ready to make history!