In order to understand the value and potential of IoT Chain (ITC), it is important to first delve into a bit of background on the Chinese Internet of Things market, and why DAG networks like ITC are uniquely suited to IoT applications.
China and it’s massive Internet of Things future
China is the undisputed largest Internet of Things market in the world, a market that by 2020 is projected to be worth nearly $1 trillion USD as smart cities, autonomous vehicles, and evolving mobile devices such as wearables increasingly come online in the inevitable march toward an inextricably connected future.
This market is, however, largely untapped as the problem of data/value transfer has been hitherto difficult to approach. Internet of Things applications will rely on instantaneous transactions of miniature values that enable a network of at-home power grids to transact excess solar power, or a smart car to pay a smart meter in real time for its parking (what is paid is thus no more and no less than the exact amount of parking time used).
Blockchain is problematic for approaching these types of nano-transactions because of the lag involved in creating consensus on the network. On a blockchain, many transactions occurring at the same time or in very close sequence will all end up on the same block which will then need to be mined (proof of work). This makes current blockchains very poor at scaling and unable to handle the sheer volume of transactions occurring per second in the very near-future of IoT device connectivity demands. Blockchains are, on the other hand, extremely secure because the consensus they create makes their data immutable, authentic, and distributed.
IoT Chain (ITC) is not a pure blockchain network; it is a hybrid network combining blockchain with DAG (Directed Acyclic Graph) subnets. Instead of requiring blocks to be mined for creating consensus around a transaction (proof of work), DAG networks do away with blocks all together and have transactions verify each other, allowing for highly scalable and instant transactions. ITC takes blockchain into a new paradigm by combining the best aspects of hyperledger blockchain & DAG technology (lead ITC developer commenting on this: imgur.com/a/NG4aO). The ITC testnet release is due within the next two weeks and will be capable of scaling from 1,000 to 10,000 transactions per second. ITC main-net release is, according to the team, ahead of schedule in Q2 (main net release in April seems very possible). The ITC main net will be capable of scaling up to 100,000 transactions per second. For reference, Ethereum and Bitcoin are capable of between 4 and 15 transactions per second, depending on network congestion.
Because of the security inherent to ITC’s network, it will be virtually impossible for malicious bots to infect IoT networks as recently happened with the Reaper IoT bot. This aspect alone makes a compelling case for the adoption of ITC and gives way to a very high ceiling in terms of market value potential.
ITC has attracted some of the biggest blockchain funds in Asia as early investors:
- Hitters Xu is the founder of Antshares (now known as NEO), Nebulas ($500million USD market cap), and FBG Capital, a pioneering and very well known Chinese blockchain fund. FBG Capital was the first and largest backer of ITC.
- HASHED, formerly known as Blockchain Partners Korea, is the largest and most well known blockchain fund in South Korea. They are early backers of ICON, Omise GO, and many other stellar projects that went on to huge valuations. Hashed has invested in ITC and formed a partnership with them which involves a rebrand in February, bringing them to South Korean and Western exchanges, and a marketing campaign in South Korea: medium.com/@IoT_Chain/itc-accepts-bpks-investment-and-forms-a-strategic-partnership-9c3a053dfd88
ITC has several partnerships that are announced, and many more undisclosed partnerships (due to Non-Disclosure Agreements). They are also strongly linked to Cheetah Mobile after the ITC team confirmed they met with Cheetah’s CEO in a private meeting. Cheetah Mobile is a Chinese $2 billion company with 634 million customers.
- Shanghai High-Flying Electronics Technology Co. Ltd. Shanghai High-Flying Electronics Technology is an IoT hardware manufacturer. IoT Chain is working with this company to produce chips that contain IoT Chain firmware. The chips will allow other manufacturers to easily integrate IoT Chain functionality into their hardware. This is a key benefit that IoT Chain has over Iota because manufacturers will not need to pay consultants to integrate the platform into their hardware enabling fast and widespread adoption especially among smaller manufacturers.
- Shenzhen Galaxywind Network System Co. Ltd. Galaxywind produces high performance routers and smart devices such as smart thermostats for air conditioning, smart power points, smart LED bulbs and smart door locks. IoT Chain firmware will be integrated into their products.
Carson Allen
What is a potential valuation? What is coming up for ITC?
- ITC has a current marketcap of about $145 million USD. IOTA by contrast is valued at $7 billion USD. Considering ITC's backing, connections, and position in the world's largest and most profitable Internet of Things market, ITC appears extremely undervalued with great potential as its currently NDA'd partnerships are revealed with the project's progress.
10/10. rare case of: now you dont need to dyor anymore kek
Samuel Adams
brainlets take notice, this is how you shill.
op. what about cpchain and int tho. cpchain was torque, etp, ven, qtum, hpb all behind them.....
Nathan Cruz
I own this
Tyler Lewis
stardawg777 or copypast
Kayden Anderson
IoT Chain (ITC) = DAG + Hyperledger = A revolution for IoT.
I smell new paradigm fomo
Asher Powell
TL;dr
Brody Green
the most elaborate shill ever on biz? Yeah but really good read
Aiden Gomez
Can sb tell me if there are better holds for february than this one? It has so much coming for it but idk. Hpb?
Alexander Carter
okay the 1d chart looks really bullish. every candle closing above the last one. and news are still to come, many rumours, much not priced in
very comfy
Austin Rogers
This coin is bullshit. INT gonna deck this bitch
Owen Powell
why? what's better about INT? shill me
Joshua Baker
both r shitcoins
Jace Lee
man I fucking hate bitcoin bravado for what they did.
Levi Bell
DELET
I don't get payed for another 6 days
Caleb Price
Mainnet released soon after huge conference 1st Feb. ITC is lightyears away from getting anything that resembles tech out. VERY likely NDA's will be revealed which involve; IBM HUAWEI RUFF Microsoft Research IMECAS But as always you should; Look into it
DUMB FUCK DELETE WHY ARE YOU SHILLING THIS RN=??????? I STILL NEED TO FUCKING BUYYYYY
Isaiah Murphy
kek.
INT is borderline scam and a total shitcoin. Anons check OPs shill (10/10) and then check this faggots shill here.
Let me tell you
INT was coordinately hyped by big discord groups The Martian/Caps, and fomo set in after the famous crypto-youtuber Supoman advertised it.
The circulating supply of INT got increased by 66% after the community was told the circ supply is only 150million tokens (cmc still says it is 150million)! >imgur.com/XqR6J3e According to an admin in their telegram, the 100 million tokens were given to a "silicon valley agency" on which we got NO informations whatsoever, we dont even know if they exist. It is too very unusual to give large amounts of non-circulating tokens to a single investor and instantly release them to the circulating supply.
And it won't end there! Read the last sentence of the statement, it is just the >new< circulating supply, not the finalized current one (with the rest locked in smart contracts). They will, from now on, release more of the remaining 75% of the not yet circulating supply into the circulation.
This is inflating the price, and most investors didn't yet realize this happened because the informations on coinmarketcap are WRONG.
(1/2)
Josiah Brown
Beside of that, there are tons of red flags:
> 75% of the tokens in the hands of private-ico participants and devs (NOT LOCKED AWAY) > first the admins said 150mil tokens are circulating, then they raised it to 250 mil, the whitepaper states it is actually 350 million tokens circulating > the github is inactive and we weren't able to review code yet, no statement on if their code will be open-source. > they won't use DAG and don't really address scalability-issues in their whitepaper, how are they planning to deal with the huge amount of transactions/data in a IoT-network? > the roadmap is very unspecific and vague, we know of a mainnetlaunch, but that only after INTERN TESTING, it could be flawed a lot at release, or worse, the code could be not made open source > the partnerships with neither IBM nor HuaWei are verified or announced > whitepaper only a placeholder with 10 pages, bad grammar and spelling
A whitepaper-placeholder and promises are not worth an evaluation of currently over 200million.
Look at it, its tanking, it will stagnate for ages. (2/2)
Jayden Perez
Idk man int is shit and the devs are liars. CPC still has to prove itself worthy. RN ITC is out of competition imo
This shit will moon hard in Feb, Elliot waves #2 and #3
Kayden Jackson
Ill fucking kms if this moons before I could flip my shitcoin hpb
Adam Nguyen
Tfw bought for 2.5usd some 2 days ago
Owen Campbell
WHY INVEST ITC
William Lopez
I can't wait for big youtuber reviews once the testnet is out and they were the fucking first project to be able to combine hyperledger + dag tech. fucking nerd shit. will be marketleader
Andrew Lee
IOTA faggots will cry
Adrian Nelson
Because it's literally the most promising 3.0 coin around. IoT Chain makes IOTA and ETH look like a joke
