IoT Chain is a secure, lite operating system for the Internet of Things. The Internet of Things (IoT) is a term used to describe the interconnection of computer devices embedded in everyday objects enabling them to share data. 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.
Protecting ownership and usage of data is of utmost importance to us. The decentralized nature of our network ensures your information remains secure, while at the same time you can choose to provide your data, abstracted or not, to third parties who want it. This ensures your privacy is protected while allowing a data marketplace to emerge. Businesses can obtain the data they need but you are always in control of what is yours.
By 2025, IoT experts anticipate that most electronics will contain some level of smart technology enabling them to connect and share data. These devices will require an IoT operating system in order to interact with the network. By implementing our technology at the chip level, IoT Chain is positioned to become the go-to platform for such devices by providing manufacturers with simple access to a powerful IoT ecosystem.
The TC token acts as a carrier of value and ownership, exchanged among intelligent devices. Once an ITC-enabled device is connected to the network, users can obtain the right to use that device through the payment of tokens. These connected devices generate large amounts of data that can be used for AI, machine learning, business analytics and more. Those who want access to the data can purchase it from the users with ITC tokens. As more devices join the network, the demand for the ITC grows as more people need tokens to facilitate transactions. This demand is compounded by the demand for the additional data generated.