IoT Chain (ITC) blockchain is a kind of a big relief the businesses as it solves many of the problems that Blockchain technology offers. Nowadays, there are many homes and businesses out there that depends on the Internet of Things(IoT) for their work. Thus, they need a good way of storing data and the security of the data.
IoT Chain (ITC) being a blockchain network, developed as a lite Operating System and using SPV, PBFT, CPS and DAG technologies provides a solution for data storage and security. It makes it possible to store data in a layered decentralized form.
IoT Chain (ICT) blockchain technology combines with DAG technology and helps to tackle the major problems of security and transfer speeds experienced when using the Internet of Things. This allows IoT devices to run with low computing power. This in turn drastically reduces the cost of running and operating interconnected IoT devices.
IoT Chain is also known to be very scalable due to its vast note network system around the globe. This enables the network to handle the increasing demand for data storage and transactions. With IoT Chain scalability, users are entitled to transactions speed of above 10,000 transactions per second.
Some of the fields where this blockchain has been accepted and incorporated for use include:
- Automation of the supply chain management.
- Automation of the verification of the identity and security from cameras.
- In the smart street lighting.
- Making micropayments, especially using the ITC Tokens.