IoT Chain : Security for the Internet of Things - ITC Token

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What is IoT Chain & What Problem Does It Solves?

IoT Chain (ITC) is designed to solve the severe safety problems of present IoT. ITC is developed as a lite operating system using the blockchain concept and implementing PBFT, DAG, SPV and CPS technology, allowing data to be layered and stored in a decentralised manner and providing protection with the combined strength of the millions of IoT nodes within the network.

Therefore, ITC can not only protect the users' devices from being attacked by hackers but also defend users and their devices' data safety sovereignty and privacy security. For example, the data of intelligent device, such as the camera, can only be checked by users themselves.

Because of the centralization design of tradition IoT architecture, the user’s behavioral data is stored in the center servers controlled by merchants. Thus, the user’s data is prone to be leaked out and the user’s privacy as well as safety will face severe threats.

The blockchain has provided decentralized ideas and technology, which are very suitable for the self-service, self-maintenance, self-transactions and shares between machines in IoT industry . But there are still some key problems to be solved when applying the blockchain technology in IoT, such as the form of consensus, quick pay on small amount and protection of data privacy.

Users can access smart devices connected on the blockchain with the use of ITC. At the same time, as the ITC ecosystem generates large amounts of data, abstracted data can be sold for and bought with ITC while protecting the privacy of users.

Token

ITC - 100M total. No additions. Current circulating supply 50 Million Tokens. The remaining tokens are said to be locked-up to prevent any extreme price fluctuations caused by early investors taking profits.

1 ETH = 1000 ITC

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