IONChain Blockchain IoT Project Set To Rival IOTA Market Share in China
IONChain Challages IOTA
IONChain is a blockchain and internet of things upstart that aims to influence both industries with its introduction of algorithms and architecture that address a range of issues, including security, flow, and the sharing of ideas. One particular platform is currently the leader in this space and it is the internet of things market leader, called IOTA. To gather influence over the space, IONChain plans on challenging IOTA.
IONChain plans on gaining superiority over IOTA by providing superior quality in various areas, such as edge computers, the use of IPFS to protect against centralization of private users or device data, and enhancing the involvement of individuals internet of things nodes in a decentralized network.
The difficulty for IONChain comes when it comes to performing better than IONChain in areas that the platform specializes in, such as the facilitating of data transmission via blockchain and eliminating fees from transactions and no mining rewards.
Those who are part of the IONChain network will also be able to generate mining rewards, thereby giving devices that are a part of internet of things more utility. Mining rewards are also crucial to the IONChain system.
The rewards promote the increase of the adoption of internet of things devices in different industries. As a result of the increased used, there may be new applications for the internet of things network, such as business monitoring upstream and downstream, terminal sales, and greater manufacturing configurations.
In August 2018, IONChain blockchain plans to launch a parent network, and additionally., the platform received contributions from several leading Chinese organizations.