IONChain - Facilitating an Internet of Things Economy

in #contest2 years ago (edited)

"One device, one code, one coin"


Every day the technology advances, the world changes very fast that is why every day there are new platforms transforming the way in which life is known. The human being is constantly changing and seeking improvements and new technologies, so electronic devices have taken over the daily life of everyone, the more applications and functions have greater receptivity.



Currently the blockchain technology is booming and in fact is expected to grow exponentially over the years, thus creating a new era of the Internet, for its part for 20 years proposed the concept of IoT or "internet of things "That is to say, the fact that the devices have a connection with the virtual network that is internet, with the passing of the years the concept is still valid but its application is still not 100% exploited. The IoT is a concept that can be extremely innovative if it is mixed with current technology and made to grow, is what would lead the world to advance even more, to connect devices to connect even more with a virtual network that has increasingly become more real. If you think about the benefits of blockchain technology mixed with the IoT, you can see a world with a technology for devices that is more secure, more progressive, more connected to people.


However not everything is done there are still things to improve, you can always take a step further to the future and there are some weaknesses to solve with the IoT:

1. Business model for the IoT industry still not established: Although it is a very attractive concept, IoT is not yet linked to a broad business or industrial scenario. Currently, there is only one large-scale implementation which is RFID, which means that the main economic benefits of the IoT come from isolated devices that implement it but it is not used in a consolidated way on a large scale.

2.Lack of data security and privacy protection: Security is always a concept that everyone seeks and even more when it comes to data management. The IoT works with a large amount of data, that is, there is much to protect, both businesses that want to implement it and individuals feel uncomfortable with the fact that all the information is in the hands of only one company at the top of the ecosystem , then it is considered quite insecure and without privacy.

3.Lack of interoperability between platforms: The IoT network has always been a centralized network, therefore all data and information is protected behind a barrier, which does not allow an interaction with the platforms involved.

4. The shackles of cloud computing architecture: Currently the applications that need real time as VR or automatic conduction do not count with a System fast enough by IoT technology, since it has a trend system in a cloud that is not enough to handle data for millions of milliseconds.

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IONChain ​​a world of more connected devices.

IONChain ​​is a company founded in early 2018 in Singapore and Shanghai. It is important to mention that his name has a scientific origin.

In 1887, the famous Swedish physicist, Arrhenius, proposed his theory of ionization, which posits that similar to molecules and atoms, ions are also a fundamental particle in the formation of substances.
Source, whitepaper page 9

The reason for the name lies in the fact that the IONChain ​​platform works as a link to integrate the devices through the blockchain technology and the IoT. In other words, it is a fundamental component, like the ion for atoms.

IONChain ​​is a platform based on a proof of stake of the internet of things, this platform seeks to merge the blockchain technology with the IoT, it is a very intelligent concept since both are growing exponentially, and one can help the other , reaching the new age of the internet in devices.
The main aspect of IONChain ​​is to apply the IoT in all the desired devices in a decentralized way, so that the user can break the barrier to the data, on the other hand its implementation would provide more speed and efficiency for the implementation of a chain of blocks and as if that were not enough, every device connected to the IoT network would function as a cryptocurrency mining company that owns the platform in this way, creating more dynamism and a safer adoption of the technology through the incentive system.

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One device, One code, One coin

The vision of IONChain ​​is based on a philosophy of "one device, one code, one coin" with this refers to the device with IoT technology, the code is the unique identification created by the device to generate the data, and one coin It is about the currency used by the platform to create mining through devices and thus the use is more attractive for customers. This vision has a strong impact since it is very useful and concise the management of the platform based on those three aspects that encompass the above.

Communication between intelligent devices.

Currently it is very common to use smart devices to make life easier, but still has not taken full advantage of these, with the application of the internet of things the use of this improves but nevertheless they were still conditioned , with the appearance of IONChain ​​this change, since the ecosystem of this platform is based on the mixture of the IoT with the blockchain technology allowing a communication between the devices, that is, it simply works as a link to connect the devices to each other and so they fulfill a better function, the fact that they communicate improves the scenario of the technological industry, others that provide a layer of security and privacy because it is reinforced by blockchain technology. Therefore, the implementation of IONChain ​​gives an impulse to the way in which intelligent devices are used, taking them to another level.

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The IONC token

IONChain ​​has its own token, which is a single currency, its main purpose is to facilitate trade in data and other applications within the platform, it is also important to highlight that this cryptocurrency can be mined, all devices connected to the platform can work as IONC miners, working as an incentive for users "The more useful the data is (the more dAPPs are using it) the more IONC can be mined."

IONChain ​​has an economic protocol that is based on its IONC cryptocurrency, being this crucial then, the point that the IONC is undermined by the intelligent devices makes it an incentive for more people to join the platform.

Apart from that, IONC token can also be used in the following situations:
a) Rewards for the IoT devices used as miners;
b) The longer you hold the tokens, the bigger your chance to be elected as the IONChain council member, subject to the Constitution and requirements therein;
c) Compensation for the cost of running data search, statistics and smart contract analysis. Nodes running smart contracts will get awards accordingly
d) As the fuel for running DAPP on the ion chain, the node running the API called by DAPP will receive the reward corresponding to the running consumption of API
e) As a transaction fee for transferring the IONC currency between accounts, the billing node award is paid accordingly
f) Each IONC coin can track its origins, and can save and trace part of the data through the IONC currency
g) nodes responsible for the communication between IONs (access to IoT devices) on IONChain, and accounting will get corresponding awards;
h) R&D expense for the developers is a compensation paid by IONC users.

Source, whitepaper page 30



Token distribution



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Technical aspects

The technology behind the entire system is baptized by IONChain ​​as "IONIZATION" this term comes from the ionization of ions, relating the term to the formation of the atoms with gain or loss of positive or negative electrons. In this way, IONChain ​​has linked it to its value generation system, which is divided into 2 parts: value creation and value transfer.

  • First the generation of value: It is about that all the information is processed and stored in each intelligent device, in this way the data becomes standardized, so that it goes to the next phase.

  • Value verification: Here the well-known is implemented by the platforms that work with blockchain, pass to a verification through POW / POS

  • Value Evaluation: Here the dat is protected and authenticated.

  • Value Confirmation: Finally the data is confirmed and the IONC token is generated.

In the second part is Transfer of values ​​this is divided into 6 stages.

  • Application layer: Try the user interface

  • Service Layer: is the interface used for communication between modules.

  • Protocol Layer: this is a protocol used by IONChain ​​to schedule the main protocols that it has used in its ecosystem.

  • Mart contract layer: One of the most important layers since it is responsible for creating a bridge between the user and the blockchain, in this way the client can feel safe and also generates a legal factor in the platform so that the user is safe. trust your data and information.

  • Blockchain layer: There is not much to say about this as it speaks for itself, one of the main aspects of the platform and the entire ecosystem.

  • Data storage layer: this layer makes use of Interplanetary File System (IPFS) in combination with BigChainDB to make the data storage task much easier.


Edge computing technology

Currently Edge computing technology can represent a solution to the problems facing IoT as it is an open platform that integrates aspects such as network, computing and storage, so its application can greatly help improve the network IoT in terms of real time, security, privacy, data optimization among others. On the other hand, if it is mixed with the blockchain technology it forms an incredible key for the correct functioning of the IoT technology, it is also key for the IONChain application, the platform has a real time device communication factor that is possible thanks to the application of blockchain technology and edge computing, in addition to obviously the IoT.

IONChain and dAPPs

Nowadays, the speed of applications is being sought and more and more of these are leaving the philosophy of being centralized, so that they offer greater security and speed. IONChain offers the power to apply its global standard to the dAPPs in order to provide the best possible service to its users, with a faster and safer transfer and processing of data.

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Application of IONChain

This platform can be applied in different scenarios where the IoT is present, any intelligent device can access the use of IONChain. The platform can be used individually or in business.

Use-case 1

Dave is a very successful and busy entrepreneur who has a lot of work, paperwork and many things in his office, he loses too much time looking for what he needs besides he loses a lot of his things which stresses him, investigates what he does and one day in an article read on a desk and an intelligent organizer who remembered where everything was, it seemed perfect for him, he investigated more about it and realized that this was possible because those devices had an IoT technology driven by a platform called IONChain ​​that intelligently by a blockchain platform and allows everything to be organized and also offers a system of rewards and token mining, making its use quite attractive.

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Check my video explanation, enjoy


The technology advances day by day, IONChain contributes its part to help the advancement of life as it is currently known, through the application of edge computing and blockchain technology hand in hand with the IoT this platform offers the opportunity to provide greater comfort for the users, in a secure and private way thanks to the blockchain technology there is no loss of data since the information is in a decentralized chain, unlike the normal proposed IoT systems in which the information is in the hands of only one team , not of all people, therefore this platform works as a bridge between the different intelligent devices, in a fast and safe way with a very well thought ecosystem, with this platform is given an answer to data security, data circulation, data sharing and data transactions. The future is already here with the full use of IoT technology.

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The team


Know more about them here

Road map





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More Information & Resources:

IONChain Website
IONChain Bitcointalk Explanation
IONChain WhitePaper
IONChain YouTube
IONChain Twitter
IONChain Medium
IONChain LinkedIn
IONChain GitHub
IONChain Steemit
IONChain Telegram

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