What is IoT Chain? IoT Chain (ITC) is a Blockchain network designed to solve problems in the Internet of Things (IoT) space. cryptocoin.com In this article, we have answered the questions asked by investors such as what IoT Chain is, what it offers, what is ITC, what is it for, how to buy it. Let’s examine together this Blockchain project, which focuses on the interoperability of technological devices.
What is IoT Chain?
The current IoT industry is facing security and efficiency challenges. IoT Chain is a highly secure network designed to solve problems in the Internet of Things (IoT) industry. The architecture behind IoT Chain has a number of advantages such as being able to satisfy the high concurrency environment of IoT. The platform, best known as ITC, offers users a place where they can be assured of data security and efficiency. It also facilitates data sharing between devices.
What does the IoT Chain offer?
IoT Chain is designed to help solve security-related issues. The network implements a combination of semi-homomorphic encryption, ciphertext computing technology, asymmetric encryption and decentralized architecture. This ensures that users and devices are protected from hacker attacks. However, the network also solves the efficiency problem of the IoT industry. For this, it implements the PBFT Proof-of-Work consensus mechanism that allows interconnection.
The network executes thousands of transactions simultaneously. In addition, in the big data environment, IoT Chain supports the view that data sovereignty should belong to users. Non-circular data is worthless and ITC provides technical protection for valuable data. It also prefers to implement other probabilistic models such as Zero-Knowledge to gain access to smart contracts. As a result, this is how the project solves various problems of the IoT industry such as efficiency, speed, security and privacy.
What is ITC? What does it do?
Although there are many platforms that claim to offer IoT services, IoT Chain is ranked among the best because of the way users use it. Users use the network to share the economy, pay for everything, property digitization trade and secure access. However, IoT Chain has a native cryptocurrency called ITC. ITC is an Ethereum-based ERC-20 token. Users run smart contracts that allow their smart devices to work together by paying with this cryptocurrency.
What is IoT Chain? How to get ITC?
With a market cap of around $10,000, IoT Chain is currently listed on the Huobi exchange. Interested investors must first access this exchange, follow the steps to become a member and verify their membership. After that, they need to deposit an asset in the account they created according to ITC parities. Investors who do this can place buy orders for varying amounts of ITC depending on their balance.