Nyron Chain an enterprise solution system being developed on the blockchain to build the first smart cities in China. They will use the introduction of BLE beacons that are already being deployed in IoT companies. They will be used for supply management and are said to implement this year. They are integrating IoT technology with BLE on a decentralized ledger to get it working correctly.
How Does Nyron Chain Work?
The platform works by using beacons for asset tracking. They don’t require any scanning of the goods, they work with BLE solutions that can handle multiple cases at once and there is no interaction of any kind whatsoever for the scans to operate in real time. Everything is broadcast to the identifier from hardware transmitters that communicate with nearby devices.
BLE is a new type of Bluetooth that stands for Bluetooth Low Energy technology. And unlike normal passive RFID and barcodes, no manual scanning has to be done to update the location of a product. Instead, the devices identify the range of the beacon and update the app automatically.
Using a distributed ledger to track beacons information is the essential function of the blockchain. And that is
What Is The ICO On Nyron Chain?
The crowdsale for the company ends in a little more than 22 days. You can join it right now on the company website. There will be a total supply of 100,000,000 tokens for distribution. And as of now, 60,000,000 are ready for the crowdsale with a soft cap of 5,000,000 USD and a hard cap of 30,000,000 USD.
The token allocation will start with 60% for the public investors on the ICO. 10% will go to private investors on the ICO. 20% will go to the Nyron Chain Foundation, it will remain locked for 480 days. And the rest or 10% of it will go to the team of developers and advisors on the network.
To join the ICO you have to register with the website for their Ethereum Address to get whitelisted on the crowdsale smart contract. 1 ETH is equal to 1800 NYR not counting any bonuses.
Everyone who participates in the crowdsale will get a massive 20% discount off the token price until the soft cap is reached. Investors who want to invest more than 5 ETH can do so during the crowdsale, after that, they have to sick to KYC for legality. If you can’t pass the KYC, you get fully refunded within a week.
Investors who put in less than 5 ETH will be able to trade their tokens as soon as they get them from the smart contract and they don’t need to send any more documents for any reason. And that is why they are building a IoT friendly blockchain that is public. This will in turn create more trust between the IoT devices and the Blockchain.
Who I Behind Nyron Chain?
Ryan Zhao is the CEO and Denny Dong is the CTO. Steve Wu is the Chief Scientist for the company. Other than that, there are no bios or social media links. And you can’t the click the pictures to go anywhere for more information. There is also no location given for the company headquarters. You can see a roadmap to the company on the website under the team section.
Nyron Chain in Conclusion
They’re basically making shipping, tracking and delivery tracking completely automated in China. It’s a huge industry to take part in and can make a lot of people some serious profits. But without more info about the team members, or the location of the company – it’s simply to risky to invest with Nyron.