IoT Chain is a digital token of the project, which is the main competitor of IOTA. IoT Chain wants to become a basic network for the Internet of Things. This blockchain project is being developed by the Chinese team of developers, who focus on the speed of processing operations. The development of this project began in 2017, and the end of the development of the project is scheduled for February 2019. The main task of the project developers is to create a platform with all suitable conditions for the interaction of “smart devices”. The use of such a network will contribute to the faster development of artificial intelligence.
Given the errors and problems of the existing Internet of Things, the IoT Chain team decided to create a product that would function on 3 basic principles:
Every person who connects their device to the so-called Internet of Things should be sure of the security of their data. All information transmitted within the network must move from one node to another instantly. This function will be provided by the Dag algorithm. The last principle on which IoT Chain platform is based is decentralization. Thanks to this principle, the Internet of Things network will not be dependent on large data centers that provide the Internet.
By mid-2019, all the team's plans should be implemented. But, for the project to be 100 percent relevant, the world needs to step forward a little bit. According to analysts, around 2022, the use of Internet of Things technologies will be much more active than it is now. Therefore, for maximum benefit, the IOT Chain tokens shoul be kept for at least 5 years.
Where to buy
The total number of ITC tokens is 100 000 000, of which 49% are in use. The cost of 1 ITC is $0.96. IOT Chain tokens can be bought on such exchanges as Huobi, OKEx, Bibox and others. On May 25, 2018, the capitalization of IoT Chain project is $ 47 million.