IoTon (ITN) ICO Rating, Reviews and Details

Sep 1, 2018

Sep 30, 2018

100% completed

Raised funds - no Data

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Token Details

Ticker

ITN

Additional Details

About IoTon

The Internet of Things (IoT) is a networking technology that allows users to integrate and use various devices over the internet. With this networking technology, human-human, human-device and device-device interactions have become extremely active, and Big Data is constantly generated through these interactions. Big data is used for Deep Learning that aids any system’s Artificial Intelligence (AI) in producing better services. It has been predicted that 100 billion devices will be included in the IoT Network by 2050, and that technology investment for the sector will reach one Trillion US Dollars by 2020.

However, for IoT networking to occur globally, a hyper-connection system with powerful security is required. Currently, most devices are not included in IoT networking, showing weak compatibility with one another. Also, due to the centralized nature of the current IoT network, security problems caused by hacking of central clouds are occurring repeatedly. IoTon, hence, helps as a Blockchain IoT (BIoT) General Purpose Platform which safeguards device democracy and data ownership to solve the problems of interconnectivity and security.

IoTon uses a decentralized and distributed cloud network to enhance connectivity, speed and security. It also utilizes the Blockchain’s transparency and anonymity to secure data ownership and promote data use. Devices and people networked by IoTon automatically become members of an intellectualized hyper-connected society.

Features

In DAG Data Structure, a unit of record is not a block but a transaction. As soon as a transaction occurs, it is verified by another transaction. This process gets rid of the waiting time required for a block generation and achieves faster speed and greater scalability than blockchain.
hrough PBFT, the consensus among nodes can be reached even when there are some dishonest or malfunctioning nodes. Through DPoS, only the nodes selected through voting are delegated to engage in block verification. These two consensus algorithms will solve Byzantine Problem and maximize transaction speed.
With the combination of DAG Data Structure and PBFT DpoS Consensus Mechanism, IoTon blockchain achieve much higher transaction speed compared to Bitcoin blockchain. IoTon can accelerate its transaction speed to 300K Transaction Per Second (TPS) while Bitcoin shows 7TPS performance.
IoTon uses smart contracts to carry out transactions without third parties on the decentralized network. IoTon adopts AI-based contract execution mechanisms. The contract execution process is not only automatic, but also truly intelligent.
Through non-speculative utility tokens and various IoT service partners, individuals can use and pay for services jut as in the real economy.
IoTon network is fully decentralized, allowing things and individuals to hold equal power on the platform. Decentralization also means no central server hacking and higher security.
As a blockchain platform, IoTon does not require intermediaries for payment, thus reducing transaction cost to near zero.
By registering cell phone on IoTon, individuals can easily access all IoT services. No other device is necessary.
IoTon tokens will be rewarded to device users, artificial intelligence and service providers for the various forms of data generated, incentivizing the building of hyperconnected society.