Chinese company building high speed IOT blockchain
Headline
IoT blockchain of China with transaction speeds 10,000 faster than Ethereum
Advantages
Strong investors (FBG)
Strong comparable with IOTA at ~$10bn+ market cap
Little advertising so far
Strong technology (PBFT, DAG Network, CPS)
Partnerships with
Shanghai High flying electronics technology
Peoples daily digital communication
Shenzhen Galaxywind Network system
Shanghai Shuncom Smart Technology
Telink semiconductor
Shanghai BeTiger Network Technology
Shenzhen Lenze Technology
Why is it Important?
Security
IoT devices are susceptible to botnet attacks with existing IoT software. The Botnets of Things have infected more than 2m IoT devices.
Centralised IoT management structures are not good at securing private data
Cost
Centralised IoT cloud infrastructure is expensive to maintain.
Solution
IoT Chain is a new blockchain utilising PBFT consensus and the DAG network
By combining SPV technology in nodes, PBFT consensus algorithms and a CPS IoT layered architecture, IoT has a big-data IoT ecosystem that can scale with high usage, provide intelligence and securely store data.
IoT Chain prevents IoT botnet attacks by using asymmetrical encryption on its blockchain.
IoT Chain is highly scalable in design with architecture for up to tens of thousands of nodes. This allows it to scale to meet the needs of IoT data storage.
Core technology
IoT Chain leverages the PBFT consensus protocol, leading to vastly improved processing performance compared to other consensus protocols.
IoT Chain leverages the DAG network, improving the network’s throughput capacity and lowering transaction costs. The DAG network also improves security, enabling IoT Chain to protect against Quantum attacks.
IoT Chain leverages Simple Payment Verification (SPV), enabling faster and cheaper payments between IoT devices.
IoT Chain leverages Cyber Physical System (CPS), to integrate cloud computation within IoT devices
Valuation
Low circulating market cap: less than $100m
Potential circulating market cap: $1bn-$10bn
Summary
This is a high quality blockchain project
The circulating valuation is less than $100m
IOT Chain has the potential to become a $1bn-$10bn valuation blockchain by 2019.
