The cost of data transmission is slowing down IoT industry development.

ioeX’s here to help. It is startup company from Taiwan which has developed a "decentralized networking" solution based on existing servers (as bootstrap nodes) and smart devices (as peer nodes), which combines blockchain technology to integrate peer-to-peer (P2P) transmission to save 70% cost for IoT equipment manufacturers - ioeX is new network transmission and consensus mechanism offering practical solution for IoT equipments.

General information:

Available for Token Sale: 55% (Start July - August)

Ticker: IOEX Token type: OWN WALLET.

Whitelist: YES (JOIN)

Website: https://www.ioex.co/

Medium: https://medium.com/ioexnetwork-en

Whitepaper: https://files.ioex.co/whitepaper/ioeX_whitepaper_en.pdf

Whitelist: https://www.ioex.co/white/register

Youtube introduction video: https://www.youtube.com/watch?v=fKsS0iJBKro

Youtube channel: https://www.youtube.com/channel/UCoHDowIgVFFy14b9VV6uWpA| 37

Facebook: https://www.facebook.com/ioeXnetwork/ | 10,382

Twitter: https://twitter.com/ioexnetwork | 7,540

ioeX is a Blockchain Taiwan's new company to create a new business model to save cost on software updates. It's a B2B2C solution for IoT hardware firms.

Areas: Cloud services, machine learning, data, AI, Security Protocol, IOT

#1 #2 #3 #4 •Distributed-network-based architecture, Internet integration, IoT and blockchain solutions. •Provides the chipset vendor, device manufacturer, software company or solution provider with the ability to transmit data, exchange information. • Considerably mitigate operating costs for businesses, making commercial crowd practical. • Users can choose to share their bandwidth and storage capacity by using the ioeX P2P network and be rewarded iOX coin.

IDEA

Problem 1: The software in most smart devices have to be updated online via Google Play or App Store, these devices are usually connected to the central server of suppliers through the Internet, which can be only done through the vendor's own OTA server.

With ioeX, by the interconnection between nodes, its network could update software with no need to go through the OTA server. At the same time, ioeX rewards “ioeX coin” as incentive for smart devices which shares their bandwidth and relay storage.

Problem 2: Various smart networking devices have been present in customer routine. Because smart devices need upgrading and as there are several upgrades for each smart device, the data server will need to face high-volume smart devices, support multi simultaneous downloads.

When using an external network to connect, mobile side and the indoor devices cannot directly connect, but must connect with a relay server, which will increase operating costs, and even require a great number of relay servers to deal with the heavy traffic. Let’s imagine, there are 10 million smart devices around the world, when an upgrade package is 0.1 gigabytes the transmission alone will cost over $100,000.

How to solve?

IoeX's network solution is based on Elastos’s blockchain architecture. It would also be an open approach to communicate with other blockchain platforms; IoeX's business model is to connect directly with manufacturers and network equipment vendors. More and more industries will join this system, more smart devices will become peer nodes and the scalability of this decentralized network will greatly improve. Some video game production companies provide virtual treasure trophy players to build peer networks similarly. ioeX will be the first to target B2B business models. The market can save over $12.6 billion in just 1 year ($12.6 is equal to 70% of Amazon Web service’s revenue in 2017). They aim to expand the decentralized network universally.

Specifically, ioeX platform is the combination of bootstrap nodes and peer nodes. They use a great deal of bootstrap nodes with relays and encrypted storage functions in decentralized network, then put ioe acts into their smart devices which will later become peer nodes. When the system requires upgrades in the future, these 2 kinds of nodes are combined to form a decentralized group network.

Team

It seems that there is no LinkedIn attached with core team yet, but it does not affect much because some core information is published on their website. Let’s take a look:

The executive team includes people from Foxconn, one of the world's largest makers of electronic and computer components. Some team members already serve their 11 years, as the CEO Aryan Hung. Other members also serve in many big corporations, with their senior positions. Then we have Kenneth Kuo, who invested in more than 30 blockchain projects, which is concluded that he will know how to make ioeX trended in ICO. We also have Michael Wu as the leaders of 12 top fintech projects in Taiwan.

Technical team is strong with their own experience in Linux and C++ development, PHP background development, Acer, Linus, Windows, and Android development… It must be referred that the team is quite qualified for what they are doing, in IoT things.

Consultants

Rong Chen, Founder of Elastos and DingHe Hu, Chairman of Elastos Capital are consultant of ioeX respectively. Actually, Elastos is one of the main partner of ioeX. They also have Raymond Lee, Chairman of Everex Group, ioeX’s vendor. And Board Director of SBI E2-Capital Hong Kong, Simon Szeto. These other consultants serve as PR and Law.

In can be seen from the team that it includes good people in all field of a running business, with experience from investors who can set the smart strategy for ICO, PR people for the coverage of the project, and senior experience from technical team in terms of IoT area. Though the technical team is not quite experienced much in blockchain, but they have their expertise in IoT and stuff. The team already have their investors and is not dense in technology, some PR person-in-charge can boost the image, but it can buff the project also. I see it can be advantageous for the project, but for the investors like us we don’t know if it is buffed in this regard. However, after all, we can rest assured that this team is good altogether, because we can see the union and coherence from them to pursuit the good target.

Partners

As mentioned above, Elastos have formed their partnership with ioeX, and join the consultant team. Besides, ioeX claims to have received the support of many large companies, including Hong Kong's blockchain investor EOS Global VC, SBI Capital E2 director. They are planning to extend their business overseas, embarking on UK and US market after ICO, and further cooperate with big firms such as Hon Hai, Cisco, Fujitsu, and Huawei to develop its ecosystem and application scenarios.

Token

ICO:

There is clear and sufficient information about ioeX tokens as of now. ioeX tokens are limited in number:

ICO Token sale: 55%. Purchasers can convert ioeX into GAS tokens by a dedicated wallet with 1 click and perform the necessary P2P network functions

55%: private sale and crowdfunding: used in the ioeX ecosystem and its partner ecosystems.

17%: ioeX Foundation for the future development of ioeX coins, the ioeX review committee will pass the content and announce to the general public.

10%: Team, reserved 30 months, released every 6 months.

5%: Angel investors, lock for 30 months, released every 6 months*. They will be sold to well-known manufacturers and related organizations in the ecosystem to build the initial ecosystem together.

5%: Strategic investors: Sell to chipset vendors and solution providers to build the initial ecosystem together.

3%: Consultants.

3%: Initial mining reward

2%: Promotional incentives as marketing expenses for project promotions.

Post-ICO:

40% Future P2P network development 30% Marketing, exchange listing 15% Alliance building in strategic manufacturers investments 15% Reserve fund for future development use

Roadmap

Roadmap is in 2 years, start in July 2018. It is in its infant stage. As of now, P2P Network SDK and basic APP/Service is what they are working on. The follow up stages are in every each month. July - August - September - October - November - December 2018. Up until Jan 2019, when P2P Network Upgrade official release is also when reward mechanism complete. From Jan 2019, they absolutely finish new feature development and extension. The roadmap is set regularly, each month they set a clear activity, so we can look at its feasibility.

Many new steps are going to be done in 2019, including peer-to-peer communications software, smart home appliances, and set up cooperative relationship with strategic partners.

Why ioeX is worth looking at?

It is one of very few projects that have done developed product and partly completed infrastructure before ICO. It is a strong stance that ioeX team gains in order to keep their promise of real-world problem solving. They really can disrupt the blockchain industry as well as IoT aspect.

Recently, blockchain industry has a good news: HTC introduces Exodus smartphone which supports cryptocurrency trading between users. It is used as nodes - a universal wallet and hardware that support cryptocurrencies and decentralized applications. By that each will hold their own keys, ID and data within their own phone, and no price is a plus. Read more. It seems that now is the time IoT should be applied in every device. And this idea from ioeX team is moving forward.

Media coverage is good, they usually update what they are going on, nothing’s hiden. They hold their belief and keep things motivated that everyone could also set their belief in it. Medium, Twitter, Telegram are kept up to date everyday, with clear news from team: ioeX launch event, Computex, etc…

Everex Electronics Limited - a leading company in the consumer electronic devices industry in North American and European market - early partner of ioeX, will be able to expand ioeX Decentralized Peer-to-peer Network by 1 million peer nodes in 1 year.

CONCLUSION

The project is clear about everything, from problem scenarios, the way to solve, token, idea and roadmap. Investors can directly look at all the aspects to decide what to go on. It has potential for development with goodwill cooperation from partners and ideas that solve. The real problem is still there, with ioeX financial burden for smart device will gradually mitigate in the future, business will fetch incentives and maximize its profitability. However, 70% of cost for IoT equipment manufacturers is the amount that ioeX can solve, but not 100%. The idea seems to be easily copied by competitors because it’s quite obvious to be honest. Team profile has not attached with LinkedIn or any of such to verify, it should be looked into more. Chinese projects are numerous, but Taiwan projects may be few, or barely no, whether or not it affects something is unknown also. The main team is not rather familiar with the blockchain technology, but advisors are really good, and technical team is the one who experienced in blockchain industry, I think that it is an ordinary team as the number of people is complete. To introduce blockchain technology into the real world is one of thing ioeX is focusing on, that is a good purpose for a project. Nevertheless, the technology is not very advanced or make a breakthrough, hype is not too much. I remember that Vite and ioex are on icodrops the same day but Vite is on the way but ioeX’s HYPE is still normal. What is more, IOTA, IoT Chain, Taraxa, all these IoT-related use DAG but there is not any special advantage from ioeX over these competitors. Therefore, investor should look more to decide on because every aspect of ioeX is just OK, but it’s not quite excel to become a storm in the market.

RATE FROM ICOGENS.COM

HYPE RISK ROI TERM ICONGENS’ SCORE HIGH MEDIUM NOT RATE SHORT NORMAL

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HYPE: is defined as the level of concern over a project and its FOMO. This score is based on the number of people joining a project’s social channels such as Reddit, Telegram, Twitter, Facebook, Bitcointalk, Medium or Slack as well as the number of review articles produced by the third party.

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ROI: (Return on Investment): the rate of profit a project can bring to investors (ROI is considered separately from RISK. ROI can be rated High and RISK can be rated High as well).

TERM: this factor reveals the length of time you should hold token or coin of a project. The period of time can be Short, Medium or Long.

ICOGENS’ SCORE: this score can be decided by scores of four other scores or it will reflect the level of interest ICOGENS’ team has in the project. This score is separated from ROI score. It just shows how much Icogens core team concern the project.

You are reading: [ICO REVIEW] IOEX - Internet Of Everything - the first blockchain-based business use case that solves real world problems by decentralized peer-to-peer network, from Article

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