IonChain transaction system with high throughput
IONChain is a new blockchain project, whose goal is to compete with its western predecessor, IOTA, to become a block-chain for artificial intelligence in the Asian market.
IoT is one of the technology areas with a more promising forecast in the coming years. As you well know, this is the connection of objects to the network that are trying to provide a service available to the end user. However, this revolutionary technology includes problems that arise from M2M transactions (Machine-to-Machine), mainly because of the large number of queries that need to be performed so that objects can perform their network functions.
Given these possible shortcomings of the future that is approaching us, the IOTA project was launched, which tried to take advantage of the blockbuster to create a revolutionary level for resolving new transactions and data transfers, which would eliminate the costs of data exchange between machines.
However, some of the critical voices of the blockchain universe were not too convincing in the IOTA project because they claimed that this is not a true block-chain, and therefore can not be used as a crypto currency, although it can be used for IOT. IOTA actually uses the DAG (directed acyclic chart) to transmit information, which is called Tangle within the project.
In addition, one of the biggest risks of the western project is the high probability of receiving DoS-attacks due to the large number of transactions that will occur.
Today we bring you a project offering to become a Chinese IOTA, although in this case we are talking about a real block chain for IoT: IONChain.
IONChain is a new block-chain that from the very beginning focuses on the scalability of the block chain to solve the problems associated with IoT networks, especially in terms of the number of requests, data transfer between devices, and security during the process.
This also represents another sensible difference with its European namesake: being a true block-star, it can be extracted, and not only this, but using Edge Computing technology allows each connected node to be used as a device with maximum performance. , so that the rewards will be distributed more fairly. In addition, the use of Edge Computing will allow nodes to comply with the requirements for a close connection for the calculation and storage of IoT devices, which in turn will provide better privacy protection and improve the efficiency of devices.
Therefore, unlike IOTA, IONChain is a crypto-currency, focused on solving the problem of M2M transactions in IoT, although it is also aimed at determining the priority of security and attracting as many nodes as possible, regardless of their ability to work. The IONChain decentralized form of storage will lead to failures in the protection and confidentiality of IoT data.
The project is supported by the professionalism of its team, especially the founder and CEO of IONChain.org Terry Liu.
Website : https://bitcointalk.org/index.php?topic=3641957
Whitepaper : http://ionchain.io/whitepaper.pdf
ANN Thread : https://bitcointalk.org/index.php?topic=3641957
Bounty Thread : https://bitcointalk.org/index.php?topic=4547460.0
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Twitter : https://twitter.com/ion_chain