The internet of things describes the interconnection/connection that exist in smart objects, anything from cars, watches, home appliances that can connect to a network, pass and receive data, it's basically just that. The IOT have been around for a long time but became more established with the obvious increase in connection of "Things" as against human or traditional devices - 2008/2009 saw the birth of the Internet of Things due to this increase.

source: https://bit.ly/2spJ4av







As IoT gradually builds more momentum, gain more and more presence in our life and daily activities, becomes one of the largest global dominant internet services following or taking over from traditional method of the internet since it's just about anything connected to the internet, we would pay more attention to it's potentiality, harness it's effectiveness and improve upon it's security, of course if we do not want to come into harms way say data leaks.







The above statistic shows the growth projection of IoT in the coming years per several devices, looking closely further we can not agree more that by the big year 2020, the Internet of Things would hit mainstream with the huge expectant growth that will come with it.







"The global IoT market will grow from $157B in 2016 to $457B by 2020, attaining a CAGR of 28.5%. #IoT"

"Bain predicts B2B #IoT will generate more than $300B annually by 2020, including about $85B in the industrial sector"

"Discrete Manufacturing, Transportation and Logistics, and Utilities will lead all industries in IoT spending by 2020, averaging $40B each"

"Internet Of Things Market To Reach $267B By 2020 according to Boston Consulting Group. #IoT"...... Forbes





But this is not without it's own problems, biggest of this problems is the attacks IoT devices faces, centralization of the IoT infrastructure have seen an increase case of hacks, DDOS attacks since traditional security is essentially through obscurity as against publicity, which causes vulnerability, coordinated attacks and government interference.

source: https://bit.ly/2L6N8UC



IoT Chain (ITC) adopted the asymmetrical encryption using the blockchain approach. As long as the private key is kept properly, the data cannot be cracked even if it’s collected. At the same time, all the nodes in ITC are equal, which protects the users’ privacy, no one gains access over user data save for the user not even the government. Owing to the high consumption rate of the blockchain and the fact that Internet of Things devices has a short battery life as well as low computing ability and network capability, ITC has develop it's own workable solution that includes PBFT, SPV, DAG, CPS cluster technology, big-data-analysis smart contract ChainCode and so on.





ITC uses the main chain of PBFT and DAG as Sidechain:

"Sidechains are emerging mechanisms that allow tokens and other digital assets from one blockchain to be securely used in a separate blockchain and then be moved back to the original blockchain if needed, creating a utility economy, efficiency and guaranteeing speed of delivery"... Hackermoon (https://bit.ly/2uidFeh)





With a total supply of 100,000,000 ITC and a circulating supply of 49,421,876 ITC of what potentially could be the biggest project in the blockchain there is today in the IOT ecosystem(the first I have come across) due to its very large target market of over 7 billion users of IoT services in a world that seem to balance its population currently with the amount of internet and IoT users even projected to see a growth of IOT devices with 1 billion over the population, as China, Europe and America takes the lead in high user population while the rest of the world catches on.





What could possibly happen when the rest of the world catches on? Your guess is as good as mine. Thank you!







https://iotchain.io



https://coinmarketcap.com/currencies/iot-chain/

https://twitter.com/IoT_Chain

https://medium.com/@IoT_Chain









