IoT Chain ITC

$0.1021
Market Cap $ 6.399 MM (#296)
24h Volume $ 551.256 K
Chg. 24h: 0.17%
Algo. score 3.3/5  (#329)
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IoT Chain project purpose and description

IoT Chain clarity of purpose

IoT Chain purpose and aspects

Build a secure, lite operating system for the Internet of Things that is ready to meet the demands of a connected, digital world. IoT on Chain (also known as IoT Chain or ITC) looks to solve current IoT security and safety issues using distributed ledger technology. Using a hybrid approach of blockchain, Practical Byzantine Fault Tolerance (PBFT), and blockless Directed Acyclic Graph (DAG) architecture, we are able to create a decentralized IoT network with unparalleled speed and security that allows users to maintain their data sovereignty.

IoT Chain additional differentiation against competition

While the ITC tokens are currently ERC-20, they'll be swapped on a 1:1 basis when the IoT Chain main chain is released

IoT Chain categories

Short description

ITC is designed to solve the severe safety problems of present IoT. ITC applies a combination of asymmetric encryption of cryptography, semi-homomorphic-encryption ciphertext computing technology and distributed architecture without data center. Therefore, ITC can not only protect the users' devices from being attacked by hackers, ensuring its controlling right safety; but also defend users and their devices' data safety sovereignty and privacy security. For example, the data of intelligent device, such as the camera, can only be checked by users themselves.

Abstract

Based on the internet, traditional telecommunication network and other information carriers, IoT (Internet of Things) is the network that enables interconnection between all ordinary physical objects which can be located independently. IoT has three key features: the equalization of ordinary objects, interconnection of automatic‐management terminals and intellectualization of pervasive services. Through IoT, all the things can be connected to the internet for information exchange and communication to achieve the goals of intellectualized recognition, location, tracking, monitoring and management. There are two implications of IoT. First, the internet is still the core and foundation of IoT, which is extended and expanded on the former. Second, the user‐ end of IoT has extended to information exchange and communication between all things, namely the thing to thing interconnectivity. IoT has been applied widely in network convergence by means of communication perceptive technologies such as intelligent perception, recognition and pervasive computing. Consequently, IoT has been called the third wave of the world’s information industry development following the first and second waves of computer and internet respectively. Since IoT is an expansion of the internet, it should more correctly be referred to as business and application rather than network. Hence, innovation of application is the core of IoT’s development and creation centered on user experience is the soul.

Link to Roadmap: https://iotchain.io/#timeline
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