Businesses and smart homes can now afford a smile after the announcement of the IoT Chain (ITC) blockchain. Blockchain technology has offered quite a lot of practical solutions to a number of challenges and IoT Chain solves the problems experienced with the interconnection of IoT devices is a major boost.
Nowadays, the majority of homes and businesses depend too much on the internet of Things and therefore require a good way of storing data as well as security for the data. IoT Chain (ITC) being a blockchain network, developed as a lite Operating System and using SPV, PBFT, CPS and DAG technologies provides the perfect solution for data storage and security. IoT Chain makes it possible to store data in a layered decentralized form.
Even with the short lifespan, having been announced a couple of months ago, IoT Chain (ITC) was awarded with the prestigious Blockchain Excellence Award at The Davos World Economic Forum (2018). This was a great achievement considering that it was competing with lots of blockchain networks some of which have been in the market for decades and have also proved to be crypto giants by amercing quite a huge number of users. This year’s economic forum was looking at the blockchain and distributed ledger technology used by blockchain technologies and IoT Chain proved to be best of them all.
Advantages of using the IoT Chain
By combining IoT Chain (ICT) blockchain technology with DAG technology, IoT Chain helps to tackle the major problems of security and transfer speeds experienced when using the Internet of Things. This is quite an achievement in the Internet of Things since one of the greatest concerns with internet users is hacking and also slow data transfer speeds. With IoT Chian your data is very secure and at the same you enjoy fast transfer of data among your devices.
With IoT Chain, you are guaranteed of operating IoT devices with low computing power. This in turn drastically reduces the cost of running and operating interconnected IoT devices.
IoT Chain is also known to be very scalable due to its vast note network system around the globe. This enables the network to handle the increasing demand for data storage and transactions. With IoT Chain scalability, users are entitled to transactions speed of above 10,000 transactions per second.
The post IoT Chain (ITC) is a breakthrough for the Internet of Things users appeared first on Statii News.
source http://news.statii.co.uk/iot-chain-itc-is-a-breakthrough-for-the-internet-of-things-users/
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