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Overview of IoT Chain
The platform is a fuse of blockchain,SPV, DAG (directed acyclic graph) and PBFT (Practical Byzantine Fault Tolerance) designs.
Through their web of full nodes, the Internet of things chain wants to solve pertinent problems within the current IoT systems using DLT ensuring that there is proper data security and management while keeping speeds up. Data security and privacy is of utmost importance to the IoT Chain team and when that is achieved, their users would easily secure their data and have a freedom to share with third parties.
IoT Chain aims at implementing security that cannot be hacked in their Internet of Things network, giving control of data to its users, providing stable and speedy data transfer and promoting development of Artificial Intelligence (AI).
In simple terms,IoT Chain resolves security and safety issues. ITC tokens are based on ERC20 standards and has a total supply of 100million ITC and approximately 48million in circulation.
The ITC token is used as a carrier of ownership and can be exchanged among intelligent devices.