How ioeX provides applications and services for smart device providers and consumers? (Part B)

We Provide Applications and Services for Smart Device Providers and Consumers by the IoT Network Applying Distributed Storage and Transfer Technologies on the Blockchain Platform.

(Since it is a long-form article, it is divided into Part A and Part B to make reading easier. This article is Part B.)[本篇中文版連結]

Among the ioeX network functions, the bootstrap node works as the infrastructure that helps the peer nodes to enter the network; in order to connect with numerous peer nodes simultaneously, the device to be the bootstrap node has to function as a server. In the initial stage, we will invite collaborative partners, such as internet sensations who have their own websites, or e-commerce companies/chain store owners who have their own management systems, to enter the network through our bootstrap nodes/devices.

Fig.10: We employ the server-level device to be the bootstrap node and will invite our partners to join us through it.

We establish the “ioeX hybrid blockchain” by connecting two blockchains with each other. For a better distinction among them, we name them “main chain with PoW” and “side chain with DPoS” separately. Side chain is responsible for recording the contribution of each peer node in the network (like where and when), such contributive behaviors include a bootstrap node assisting a peer node to join the network, conducting relay transmission for a peer node, a peer node assisting ioeX in data storage and transfers, and so forth. The side chain records these contributions into a smart contract and issues side chain tokens accordingly (GAS). GAS is to help device owners to check their contributions and rewards, which will not be published, in a much convenient manner. The main chain, on the other hand, issues the corresponding ioeX digital currency according to the record in the side chain; the ioeX tokens can be transferred/received among the device owners. We will build the application scenarios of the ioeX token, such as making it available for paying for similar application services or other smart devices to create the real value.

ioeX team will also provide a business platform for contracted partners/smart device providers to expose, promote and sell their smart products.

The ioeX team has its own blockchain functions applied to the distributed cloud backup field; on top of that, it also works with the world-famous Elastos public blockchain to scale up the network. According to the usage of the personal cloud storage, Elastos will build a sub chain based on Elastos blockchain together with ioeX, allowing device owners to manage remote data transfers and backups. The business model will combine IOEX and ELA (digital currency issued by Elastos) token issuances.

Most of the bootstrap nodes/devices in ioeX network work as ioeX mining rigs simultaneously to help main chains to generate blocks; some of them will be selected to be the arbitrators for the ioeX side chains and be responsible for generating blocks for the side chains.

As to the above two roles of our bootstrap nodes, we will recruit VIP partner nodes and super partner nodes around the world to be our main chain mining rigs and side chain arbitrators. With their engagements, our collaborative partners would receive the digital currency awards due to the contributions of bootstrap nodes, main chain mining rigs, and side chain arbitrators.

Fig.12: The nodes/devices in ioeX network will act as the mining rigs and arbitrators in the ioeX hybrid blockchain.

The network and blockchain functions of ioeX are highly different than the blockchain myths that go after the features of blockchain, such as multiple applications, storable, and computable, also different than the concept that the blockchain is the root to all the platform functions. Based on the general function of the ioeX, it can be described as “the platform that establishes the value network driven by networking the smart devices.” We hope to ease the burden of massive expenses on software/firmware online updates for smart device providers, to address the problems of connecting smart devices and smartphones, and to upgrade the smart devices that have built-in ioeX functions into “personal cloud storage devices” for device owners; we strive to enter the market, set a firm ground in the first place, and then provide diversified services. We are dedicated to making collaborations with industries in different fields, such as self-checkout machine, smart brewery machine and so forth.

Fig.13: Smartphones can connect to multiple and diversified smart devices and control them remotely, the function has been the targeted development of smart device applications in the future.

If you are interested in collaborating with the ioeX team, applications of joining the ioeX network, or the global recruitment plan of the ioeX node partnerships, please send an inquiry letter or an email to info@ioeX.co.ioX. You may also apply for the recruitment plan on our website; the applications to manage a node as a person, an organization or an enterprise will be available on our website soon.

https：//www.ioex.co