THELOGICALINDIAN - The Internet of Things IoT is broadly accustomed as the third beachcomber of the apple advice industry development afterwards the computer and internet As the basal foundation of the internet Blockchain has absolutely become one of the borderland technologies in the cardinal blueprint of anniversary country
2024 will be a year back the Blockchain technology appear to bloom and buck fruit, as able-bodied as a year back the IoT and the Blockchain bang closely, accomplish blaze and again set the prairie fire.
When it comes to the Blockchain technology that serves the IoT, the actual aboriginal affair jumped into people’s apperception is the acclaimed activity in 2024 – IOTA. It is a advocate band for new transaction adjustment and abstracts transfer, which was distinctively advised for the IoT. In December 2024, it has a 52024 times access of its bazaar value, which gave anybody an affectionate acquaintance of the abeyant and allure of “Blockchain IoT”.
IOTA, a new blazon of agenda cryptocurrency, focuses on analytic the problems acquired by M2M transaction and builds the adapt of the approaching apparatus bread-and-butter by realising a adjustment of acquittal after transaction fee amid machines.
Being aforementioned with IOTA confined the IoT, IONChain is a new blazon of basal belvedere of IoT based on the Blockchain and bend computing, aiming at accomplishing the affinity of the security, flow, trading and archetype of IoT abstracts and the admission to IoT nodes of approximate blazon and scale.
Both of IONChain and IOTA are aimed at authoritative up for the weakness of the IoT. What are the differences amid them?
First, they are altered in the architectures and algorithms.
IOTA is a technology for accomplishing manual of broadcast and irreversible advice by application the DAG (directed acyclic graph, which is alleged Tangle in IOTA) to booty the abode of Blockchain. The action of cryptocurrency is chip based on IOTA to serve the IoT. While the Tangle technology is not a absolute Blockchain but aloof solves the botheration of the addendum of Blockchain.
Therefore, as a technology, IOTA can be acclimated in the Internet of things, but it could not be acclimated as a affectionate of agenda currency. This is additionally the acumen why IOTA has no mining mechanism, nor miners, and why some bodies anticipate that the Blockchain is aloof a awning for IOTA.
The IONChain advocates the abstraction of “one device, one coin, one code” wherein “device” refers to IoT device, “coin” refers to IONC, and “code” refers to the different identification cipher of the IoT accessory affiliated to the IONChain network. The IONChain depends on the characteristics of bend computing, takes IPFS (Interplanetary book system) as a average of abstracts storage, and uses broadcast architectonics to finer balk the abeyant assurance hazards of centralized accumulator on the cloud, its favorable aegis apparatus for aloofness will additionally awfully enhance the captivation of alone IoT nodes.
ION agreement ID in the IONChain will accord the IoT nodes with a different character to accomplish the abstracts accurate and reliable, and the antecedent traceable. At the aforementioned time, it will accord to the accelerated accumulation of standards of the IoT industry. This is additionally the abutment of the eyes of IONChain that “A Mining Machine for All Things” – all the IoT accessories which accept admission to the IONChain can get mining rewards by an algorithm, and the buyer of this accessory can be a big enterprise, baby or medium-sized enterprises, and alike a claimed user.
Second, their appliance scenarios are different.
IOTA, a agenda cryptocurrency, focuses on analytic the problems acquired by M2M transaction and builds the adapt of the approaching apparatus bread-and-butter by acumen a adjustment of acquittal after transaction fee amid machines.
Sending affairs over the IOTA arrangement is a affectionate of pre-paid system, and already your affairs accept been abundantly accurate from added people’s transactions, your affairs will be advised absolutely validated. The applicant of IOTA charge accomplish basal ciphering on two above-mentioned affairs in the network, and the assignment validation algorithm of IOTA optimizes the GPU. Therefore, in theory, the added affairs that action on the network, the faster the affairs are confirmed, which has “unlimited scalability”.
However, due to the bottleneck problem, acceptance amount and acceptance time are generally delayed, which seems to belie “infinite scalability”. In addition, “no transaction fee” of IOTA are both a account and a pitfall, because it will accompany a huge abeyant hazard of DOS advance that anybody can accelerate a ample cardinal of affairs at any time to abate the ability of the accomplished network, which is unacceptable in the absolute huge aggregate of IoT applications.
Unlike IOTA, IONChain is added than aloof a agenda cryptocurrency advised to break the botheration of M2M affairs on IoT, but aims at absolute assorted problems about the security, flow, trading, and shares of IoT abstracts to advance the accepted abundance of the IoT ecological alternation as well.
In the appliance of IoT, back billow accretion fails to advance in these fields, the bend accretion arrangement of IONChain will be a new solution. Based on the characteristics of bend computing, IONChain puts advanced the abstraction of “A Mining Machine for All Things” and provides badge ionic bill allurement for all IoT accessories which accept admission to the IONChain.
The decentralised accumulator way of IONChain will accompany confusing applications to the aegis and aloofness of IoT data. And compared with the acceptable centralized network, it has abounding advantaged superiorities adjoin alien assailment and disaster, to the greatest amount accomplishing the abstracts aegis and aloofness protection.
On the apriorism of able aegis for privacy, the badge incentives of “A Mining Machine for All Things” can additionally abundantly advance the large, average and baby enterprises and individuals to participate in the IoT project, to acceleration up the development of the IoT facilities.
The abstraction “A Mining Machine for All Things” of IONChain, as able-bodied as alternation of IoT equipment, makes factories, enterprises, companies, arcade malls and residences carefully affiliated with people’s circadian life, appropriately giving bearing to the new trading patterns of absolute possibility:
1)Traditional accomplishment enterprises can adviser the business cachet through the IONChain to see the upstream and after ally and terminal sales.
For instance, an African action A set up a assembly band and begin that the ability was not aerial and it bare to be optimized afterwards active for a period. And through the abstracts transaction belvedere of IONChain, action A begin that an east Asian action B issued some sensor abstracts and videos of a agnate assembly line, and again acquired the agreement abstracts and operating videos through IONChain to acclimatize the assembly band and advance the assembly ability greatly. At the aforementioned time, the amount of cross-regional and breaching the abstruse barrier was abundantly reduced.
2)Companies and arcade malls can acquirement claimed abstracts of IoT through the IONChain, analysing the claimed preferences of consumers, cutting the arrow at the ambition to achieve authentic marketing.
An Internet start-up, for example, wants admission to claimed advice and routes of some car users for abstracts assay to do business. Through the ion-coin allurement mechanism, some car users voluntarily allotment their claimed abstracts through transactions. The aggregation can bound access the adapted abstracts calibration and assay abstracts through the abstracts transaction of IONChain.
3)Individual users can use the IONChain for the administration administration of accessories using, acquire ionic currency, and access added benefits.
For example, there is a business flush owning ample parking demand, some association can install the able lock, assurance an intelligence arrangement of IONChain arrangement with bodies who appetite to park, and esplanade by automatically authoritative the lock. After the transaction, the balance will be automatically affected and alteration to the annual as the administration incentive.
As the avant-garde of the “Blockchain IoT”, at present, the bazaar amount of IOTA has been added than 25 billion yuan, baronial tenth in the bazaar of agenda cryptocurrency, absolutely embodying that the animation and abeyant of Blockchain technology in the acreage of IoT.
As the cipher of “Blockchain IoT”, IONChain is additionally admired as IOTA in China by abounding Blockchain investors and experts, advertence the able drive of IONChain.
The acumen why investors and experts are so assured is that able and reliable amount aggregation in accession to the abstraction and technology of IONChain.
Liu Tao, the architect of IONChain, CEO of Onechain, and the academician of the adept advance on Blockchain in Fudan University, accomplished MBA from East China Normal University. He is additionally the above CTO of ZHIWANG FINTECH and above chief administrator of Accenture, and has over 15 years of business consulting and abstruse architectonics acquaintance in high-tech accomplishment and banking industry. He is additionally a co-author of two books, “Practical Combat of Blockchain Development: Key Technology and Case Analysis of Ethereum”, “Practical Combat of Blockchain Development: Hyperledger Fabric Key Technology and Case Analysis”, automated industry press.
At present, the IONChain has afresh got the cardinal advance of basic by acclaimed Blockchain advance organizations. It was planned to complete and barrage the ancestor blockchain in August 2024. We all attending advanced to seeing the atom igniting the prairie blaze of Blockchain IoT!
