IONCUSD Price & History

IONChain Facilitating an Internet of Things Economy. A platform to design and automate transactions between smart devices. IONChain aims to become the underlying particle in the Internet of Things (IoT) ecosystem. Through their IONChain Protocol, IONChain will serve as the link between IoT devices, supporting decentralized peer-to-peer application interaction between devices. In the IONChain ecosystem every IoT device that provides valuable data can act as a mining machine. Once connected to the IONChain network, a device will constantly contribute its calculative power via the Ionization Algorithm and in turn, receive IONC tokens as mining reward. IONChain has created a unique consensus algorithm to determine the value contributed by IoT devices. A device’s contribution is jointly determined by the Data Quality Proof Consensus and Time Lapse Proof Consensus (Check official names again). This consensus mechanism will consider a devices' function, data quality and quantity in calculating its contribution. Out of this analysis, the number of IONC token distributed to them as a reward can be determined.