itBit exchange What is itBit Guide on ... - Coinpedia

IoT Chain (ITC): A new paradigm in IoT technology

Ticker code ITC
Current market cap $146.7m
Current coin supply 38,320,985
Comparables IOTA (marketcap $6.7b)
Website https://iotchain.io/
Whitepaper https://iotchain.io/pdf/ITCWHITEPAPER.pdf
 
IoT Chain (ITC): A new paradigm in IoT technology
Internet of things (IoT) is one of the emerging mainstream technology platforms in recent times, allowing ordinary physical objects to send and receive data through the internet. By 2019, IoT devices are expected to reach 3.054 billion.
IoT Chain seeks to pave the way in this industry by offering the following:
 
 
Each of these features will be addressed in turn.
 
Lite operating system for IoT devices
As you will be aware, traditional blockchains require significant amount of data storage and processing power to run. It would be impossible for your Fitbit to download and contiually update the Bitcoin blockchain data!
Here is a table showing the efficiencies IoT Chain's technology provides:
 
Comparator Traditional Blockchain ITC
CPU Core Duo Quad 2.4 GHz 0.08 GHz
RAM 8GB 0.002 GB
Hard Disk 1TB 0.012 GB
Transaction confirmation speed 10 seconds (BTC & ETH) Milliseconds
 
DAG Technology
DAG needs no introduction now, with the massive upsurge in IOTA and Raiblocks, DAG is a strong contender for the technology of the future.
 
Instead of Bitcoin's longest-chain consensus, DAG uses heaviest-chain consensus, confirming transactions through transaction weight and partial consensus among nodes. This effectively solves the scaling and centralization issues that is apparent in Bitcoin, while lowering transaction costs.
 
Simple Payment Verification for speed and efficiency
SPV plays into the need for IoT technology to be lite-weight but powerful. SPV works through verifying a payment as long as a block's headers are preserved (without needing the entire block). This saves data space and bandwidth and speeds up the entire process - a necessity in the IoT space.
 
ChainCode - Own your own data
In the world of Big Data, major corporates own your data - they probably know more about you than yourself.
With ITC, data belongs with the user. A company seeking to access this data must use ChainCode. To access a user's data, the corporate must pay ITC to the user in question. This puts ownership and power back to the user's hands, who now benefit from what was once stolen from them.
 
ITC - Unknown in the Western world
ITC's technology sounds very impressive and well thought-out. So why the miniscule marketcap? My theory is because ITC is only listed on Chinese exchanges, and not even Western/Asian exchanges such as Binance or Kucoin.
 
Purchasing ITC
The closest exchange would be Bibox (Non-referral link here).
 
Bibox is an upcoming exchange that lists top coins in China, much earlier before they hit Western exchanges. This allows you to make some significant profit purchasing these coins as an early-investor while they are still relatively unknown.
 
While Bibox is unknown to the Western world, it is still reputable in Asia and is ranked #28 globally in volume (above Cryptopia and YoBit).
 
If you use my invite link, thank you - feel free to message me at any time if you have any questions or want further insight on ITC or any other coins.
 
What do you guys think about ITC?
submitted by TMMEN to CryptoProfits [link] [comments]

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