IoT Chain (ITC)
The present IoT industry is facing challenges related to security and efficiency. IoT Chain is a high-security network designed to solve the problems in the IoT industry. The architecture behind IoT Chain can satisfy high-concurrency environment of the IoT. Best known as ITC, the platform offer users a place where they can be assured of their data security and efficiency and the same time makes sharing data easier. How does it achieve that?
ITC is designed in a way that its help solving the issues with safety. The network applies a combination of semi-homomorphic-encryption ciphertext computing technology, asymmetric encryption and distributed architecture without the data center. This allows for the protection of users and devices from attack by hackers.
The problem with efficiency is rampant in the IoT industry. ITC has adopted the PBFT consensus strategy which allows for interconnection on the platform. Through the combination of a point-to-point communication network and simple verification technology to Merkel structure, ITC can meet the requirement of thousands of concurrency.
Under the circumstance of big-data, ITC puts forward the idea that data sovereignty belongs to the users. Non-circular data is valueless and ITC provides technical protection for valuable data. It also applies a zero-knowledge proof and other probabilistic models to provide access to smart contracts.
ITC use cases
Although there are many platforms that claim to offer IoT services, IoT Chain is considered the best because of the way users can use it. Users can use to share economy, thing-to-thing pay, property digitization trade and safe access.
The roadmap of ITC according to the official websites shows the technology R&D schedule. The roadmap is as follows:
- November 2017: ITC main chain entered the test stage
- 2018, January: Wallet will enter its test stage
- April 2018: main Chain test will be accomplished
- May 2018: ITC main chain wallet test will also be accomplished
- September 2018: DAG network will enter its test stage
- December 2018: DAG will go online
- February 2019: join debugging of main network and DAG network will be accomplished.
The business action plan of ITC includes lighting field is the latter half of 2017, acquiring electronic equipment in the first half of 2019 and industrial IoT in 2022.
ITC team is led by CEO Xie Zhuopeng, who has been engaging in smart hardware field four over four years now. Other are Ding Ying (CTO), Zhao Tan (CFO) and a team of advisors which include Liang ran and Lv Xinhao.