IONChain : A NEW IOT PLATFORM BASED ON EDGE COMPUTING AND BLOCKCHAIN TECHNOLOGY

INTERNET OF THINGS

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Before I go into the main stuff of today, permit me to take you down memory lane as to how IOT came into existence

First, What is Internet of Things?.

The Internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers ( UIDs ) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
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Kevin Ashton who is referred to as the father of IoT in 1999 made use of the words "Internet of things" during a presentation at Proctor and Gamble (P&G).

BENEFITS OF IoT

Efficiency and Time saving:
Activities carried out by IoT tends to be accurate and it works according to the how it has been programmed to, no more ,no less. This in turn help save time as other chores can be carried out while IoT performs its task.

Monitor:

Some IoT devices used indoors helps monitor the activities of the house in which the owner itself might not take note off. For example, running low on food stuff, running low on juice, all these things help save the resource of needing to check everyday

Workforce productivity ;

IoT devices now ease up the stress undergone by employees. With IoT, communication is improved, some task can be left for the IoT to handle while the employee performs something else, some also help to improve employee's decision making and helps monitor supply chain. All these help relieve the employee off cumbersome works and increases employee's productivity.

Communication :
It enables communication between machines, known as M2M. For example, when the front door shuts, all lights left on, goes off and vice versa.

Disadvantages of IoT.

As IoT is connected to the Internet like an extension of the Internet, it is therefore vulnerable to some of attacks the Internet experiences.
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Data Security:

Data are required to fully operate the device. Some data are stored while some are used during transmission. Those data used during transmission can be hacked as they mostly contain information that shouldn't get leaked to a third party. They include details like password, account details and username.

Network Security:

This is the process whereby a hacker lay siege in between the iot device and its network source. Network shortcomings are usually the first to be exploited by hackers as it can be done remotely without the need to access the IoT device physically.

Complexity:

IoT is associated with a high degree of complex intertwined networking, that a single maladjustments or malfunction could lead to the breakdown of the device.

Compatibility:

Some IoT devices are not compatible with each other and this is disrupting the global standardization feature. An IoT device that could be used in the tropical region, when taken to the Arctic, could start malfunctioning.

Total investment till date is estimated at around $800 million and an increase is expected. But with increasing remarks about the loopholes the IoT possesses, many organizations have started investing heavily in security measures if they want to stay in business. So far so good, haven checked all, IONChain still top the chart of those organizations.

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INTRODUCTION TO IONChain

Though being a newbie in the system, they have carefully looked around and identified those main disadvantages the IoT has and have outlined some cogent aspects that needs to be attended to, such as:

• data security
• data circulation
• data sharing
• data transaction

They came into existence as a non profit making foundation to put an end to global standardization which is one of the main issues facing IoT, and to successfully deal with this, they introduced the "One device,One code, One coin" and to make these a successful project, they must first implement a generalization policy, which will make all devices under IONChain to enable connectivity, no matter the devices involved.

EDGE COMPUTING

Edge computing is a distributed computing paradigm in which computation is largely or completely performed on distributed device nodes known as smart devices or edge devices as opposed to primarily taking place in a centralized cloud environment. Edge computing is seen as important in the realization of physical computing , smart cities, ubiquitous computing and the Internet of Things .
[Wikipedia] (;;;;;;;;;;)

BLOCKCHAIN TECHNOLOGY

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Blockchain is know for its security and privacy measures. It's not controlled by a central authority but rather by users. They control their data and give access to whoever they wish to have access to their data. Blockchain technology offers vast opportunities that will deliver IoT from the old system.

IONChain will combine the benefits of Edge computing and blockchain technology.

There have been mass adoption of blockchain technology and for that, transaction speed tends to be slow. Therefore, to solve the problem of speed, IONChain introduced the use of interplanetary file system (IPFS).

One Device, One code, One Coin

The one device policy is put in play to achieve global standardization of IoT devices. No restriction will be placed on device connectivity. This is to ensure that when a device leaves the aspect it was specifically designed for to another department entirely, connection will still be established. No barrier will be placed on the device to connect with. This will be achieved through the implementation of both edge computing and blockchain technology.

Just like placing a microchip to track the movement of a car, IONChain will make use of embedded codes carefully placed into devices under IONChain. This is done so as to be able to identify device under IONChain so that such device can have access to the service to be offered by IONChain such as standardization, blockchain equipped IoT.

“IONChain's ionization algorithm will enable each device on its IoT network to be a miner. “The system will accurately calculate the precise rewards from the functions [such as], data volume, time, ... space, and etc.”
Steemit:Original works

Why is it important to have a global standard where dAPPs can be developed once to work with all IONChain implemented devices?

This will help promote the standardization policy of IONChain. This will help integrate and achieve true connection of various forms of devices. For example, your safety bulb turns on immediately night comes, all your home appliances shuts down automatically when you exist the compound. When decentralized apps are integrated globally, all devices will work with each other with smooth and fast connectivity.

Use Cases;

√ Jessica is a well established business man, she has large amount of workers who works for her and get paid. Of the total amount of profit made monthly, Jessica spends 50% to pay workers which gives her about 10% profit monthly after deducting production cost. She has Iot in her organization but it has been altered by some of the workers so that she wouldn't keep a correct track of her assets and revenue. She noticed this and look for ways to implement a new idea that deals with this setback.she later learnt about IONChain and the data security they preach. She adopt the use of IONChain IoT devices and now, Jessica is able to correctly monitor his revenue chart. All thanks to IONChain.

√ Kimberly operates a uber service. She's a versatile learner and she learnt about IONChain from its inception. She uses it to monitor the movement of her cars, to detect default before it makes the car dangerous, to detect traffics so as to avoid one of her cars getting stuck in one. Her business is booming and all thanks to IONChain.

IONChain Token(IONC):

The maximum supply of the IONC available for distribution. The coin distribution is unlike other platforms as the distribution will last for 20 years. The IONC will be used to reward devices and data providers.
Source:whitepaper

In conclusion:

IONChain is the future of IoT with various implementations that have been put in place to solve the problems facing the IoT world, by putting an end to data security, data circulation, data sharing ,data transaction insecurity o enable mass adoption of the system and increase the number of adopters of IoTs through IONChain.

IONChain website
IONChain Whitepaper

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NOTE: THE WEBSITE IS IONCHAIN.ORG NOT ionchain.io.. It's a separate organization and no form of association exist.

IONChain2018