IoT Chain (ITC) is a decentralized blockchain lite operating system that is designed to seamlessly interconnect devices for Internet of Things enabling data to be transferred at very high speeds within very secure environments. In addition to enabling impenetrable security in IoT, this system will also promote Artificial Intelligence (AI) using the data from the users on the platform.
IoT Chain will be efficient for energy solutions. It will be possible to intelligently distribute cleanShow more [+] ergy using this platform avoiding wastefulness. It will also be useful in medical care especially in the area of data consolidation and management. It also brings about business solution where companies will be in a position to buy and sell user data without infringing on the users' privacy.
IoT Chain's currency or gas is ITC. This is a token based on Practical Byzantine Fault Tolerance (PFBT) and Directed Acylic Graph (DAG) proof. This proof is characterized by topological ordering and side chains where different transactions can occur on different chains at the same time. This proof keeps the network within a manageable range that can enable quick processing of transactions. Since this system is blockless, there are no miners hence faster transactions. The token is premined and has a total supply of 100 million ITC. The token is listed on several exchanges like Huobi, Bithumb, Kucoin, Bibox, Conrail, CEX.com and Tokencan.
The experts behind this technology include Xie Zhuopeng, the CEO, Lyu xinhao, co-founder, Ding Ying, the CTO and Zhao Tan, the CFO among others.