Why the IOEX is Worth Buying: a View from a Blockchain Insider

Lessing, the German literary giant of the Enlightenment era, once said: “The true value of a man is not determined by his possession, supposed or real, of Truth, but rather by his sincere exertion to get to the Truth,” which faithfully reflects the current status of the blockchain industry.

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The value of the ioeX: Face the Problem, Deal with it!

For an open-minded insider, it is exactly the best time for the pragmatic technology and application to shine globally in the face of market adversity. Taking a look into the past, present, and future of blockchain, what would be the next opportunity after the new technological wave grows and the bubble pops.

It seems thepremise of an outstanding project is to have a great concept, a big framework, and a revolutionary breakthrough. Along with the more diversified participants, even our next-door neighbors shout slogans like: “Decentralization!” The holy war seems to lose its spirit.

The author considers to return to the basics and to propose a progressive solution are the keys to solve the problem, so to respond to questions and doubts properly and to achieve success step by step. The ioeX is exactly a project like that.

The one thing that bothers most of the IoT device providers currently is the overwhelming amount of Internet-connected devices; since online update service is a must, the cost has become a big problem.

You may ask: “What’s the big deal about the online update? It’s just an excuse for raising their prices.”

However, don’t we update our phones quite frequently? Looking into the future, there will be more and more devices, more frequent updates, and larger file sizes. No one can stop technology from creeping into our lives.

The idea of distributed storage applications starts earlier than the ioeX project itself. The founder of the ioeX Aryan Hung has led many successful projects in the IoT industry, and that gave him the opportunity to see the major pain point in the IoT industry, that is, the hefty value transfer costs.

The forms of value transfer are not limited to payment that we are familiar with, data also has value, so the data transfer becomes a type of value transfer. Adding that the transfer services have limits and consume energy, the company will feel the pinch when offering those services.

In this scenario, the challenge would be to decrease the costs that might put companies out of business. It has to be addressed, otherwise, it will hugely influence our daily lives. This is where the value of the ioeX lies, it is to provide a proper solution to this problem.

Decentralized network + the blockchain: creating a win-win situation between providers and customers.

To those who purchase a smart speaker, can you imagine bringing yourself a free employee who earns money for you diligently day and night at the same time?

To those who sell the devices, can you imagine reducing 70% of online update costs in the future?

It is not tacky to talk about money in this era of capital. It is a matter of survival. Once a product is sold, the company earns the fixed gross profit and facilitate online updates as an after-sales service, which may put the company out of business if not controlled properly; on the other hand, the consumers will no longer debug the APP running on their phones if the device manufacturer shuts down, leading to a no-win situation!

A “decentralized network” can be established between devices once having your devices equipped with ioeX SDK. You may perform distributed storage, P2P direct link transmission, recording value transfer data and so forth with others; this approach may solve the dilemma mentioned above and be beneficial to both parties.

With the designs of direct links between devices, the device providers will no longer need to worry about the costs of online updates operated either by themselves or by outsourced companies, for that can be replaced by the ioeX P2P network.

The server-level nodes can serve as “bootstrap nodes” by joining the ongoing “ioeX Node Partners Recruitment Plan.” Through assisting peer nodes in joining the network and provide relay transmission services, the ioeX will offer rewards for the contributions to the network.

Moreover, a smart device can work as a “peer node” by sharing storage space and bandwidth to earn transmission rewards.

The accurate and fair reward allocation mechanism reliaes on what the ioeX established- the hybrid blockchain which has the advantages of a consortium blockchain and a public chain.

The above two blockchains can assist each other. It requires different services offered by different devices when conducting the value transfer; the consortium blockchain adopts DPOS (Delegated Proof of Stake) as its consensus mechanism, and an arbitrator among all bootstrap nodes will be selected to generate blocks, which will be recorded as contributions in smart contract, and will be the rewards allocated to the owners.

With the trustworthy records, main chain miners can be chosen by bootstrap nodes in the public chain and to allocate IOEX as the reward for the device owners.

The consortium blockchain is to maintain the operation of the network, while the smart contract records the contribution and value transfers between devices; and the public chain is to allocate IOEX as rewards, which is recorded in the transaction ledger of IOEX.

During value investing holding periods: no big words, be practical.

People in coin circle value the coin prices, while people in chain circle evaluate the feasibility of the solutions and the White Paper, and people in mine circle care more about the profit allocation mechanisms. For companies, they can reduce costs; for users, they can improve the availability of their device by gaining more IOEX.

And yes, “value” stands for different things among different groups of people; but do remember, anything worth having is worth waiting for. The project worth supporting is a project that is practical and keeps developing.

Apparently, we all expect the coming IOEX private sale; and all the good coins have something in common, such as the effective solutions, powerful technology support, a cohesive team, practical operation and updates, continually refining and honed details, solid communities and ecosystems.

It takes time and a large amount of participation to develop the Internet of Everything and to broaden the scope of our services. We value the feasibility of our “ioeX Node Partners Recruitment Plan” as much as that of our private sale event. If you’d like to learn more and get IOEX sooner, please go to our website for more information.