The IONChain Foundation
The IONChain Foundation is a non-profit foundation operating in Singapore since the beginning of 2018. The foundation holds firm to the vision that our future society will be more connected and interactive. The foundation funds the IONChain Research Center, whose main task is to research new technological advancements to improve IoT connectedness. IONChain Foundation it is currently developing IONChain, a public blockchain that will be used in combination with IoT technology. IONChain aims to solve a wide range of problems with current IoT networks in terms of data security, data circulation, data sharing, and data transactions, thus enhancing the efficiency of the whole IoT ecosystem. The IONChain Foundation will supervise the development of IONChain and its industrial application. It will also regulate the valuation of IoT data at the initial stage, the community voting mechanism of IoT data valuation at the later stage, as well as the circulation of coins in the IONChain ecosystem. These tasks will be carried out in such a way that the IONChain ecosystem can quickly evolve into an autonomous entity which operates without human interference.
The IONChain Foundation duties&responsibilities
The IONChain Foundation is a not-for-profit oriented entity whose primary duty is to
govern the ecosystem of IONChain. These duties include:
Admission of IoT devices into the IONChain
Establishing the basic rules of IoT data transferability
Facilitating the economy of IoT data trading
Establishing the regulations for IONChain community’s voting mechanisms for data
value verification
IoT research
DAPP development
Industry partnerships
Being is value. Every Device is a Mining Machine.
IONChain aims to build an Internet of Value by bringing Internet of Things together in one place. In the IONChain network, every IoT device can be a mining machine. IONChain will serve as an underlying infrastructure platform on which all IoT devices can contribute data, quantify its value and then exchange it for IONC coins. IONChain introduces the concept of "One Device, One Code, One Coin" which facilitates the integration of IoT devices with the IONChain network. With the use of Edge Computing technology every device on the IoT network can be utilized as a mining machine, making every IoT device that uses IONChain subject to mining rewards. Owing to the use of blockchain technology, the data source will always be reliable and verifiable on the IONChain network. Furthermore, the value of the data is quantified and data transfers are fast and secured. This makes it easier for IoT standards to emerge, unlocks a plethora of new IoT application scenarios and boosts the whole industry to enter the next level of development.In the future, there will be more and more devices with "IONChain Connected" sticker for easy identification of their data mining capacity.