“Blockchain-Driven IoE, Innovative Smart Device Application Ecosystem”. From this slogan, we can know that this solution is the one that integrates IoE and blockchain. Upon seeing these two words, you know this is something magnificent. In this article, we will introduce the two major features of ioeX and also explain the “driven” mechanism that links the two.
The First Feature of ioeX: Decentralized Network
According to CEO of ioeX Aryan, based on his previous working experience, one of the biggest problem faced by smart device manufacturers and providers is the high data transfer cost of traffic and storage of software/firmware update after-sales and data transmission between devices. The situation is even worse in the era of IoT where smart devices are everywhere. The first feature of ioeX, decentralized network, is thus introduced.
Through the establishment of numerous bootstrap nodes, peer nodes, and Phote nodes, the network can largely save the data transmission cost for smart device providers by conducting relay/encrypted/P2P transmissions. More details about the network can be found in this article: https://goo.gl/gnrGvL
The Second Feature of ioeX: Hybrid Blockchain
However, how to promote the consumer’s willingness to purchase or download smart device-related products with peer-to-peer networking functions and how to encourage brand owners, solution integrators, CPU vendors, and ODM vendors to join this business ecosystem as nodes? The fairness, incorruptness and token incentive system of blockchain make it the second feature of ioeX. The solution plan is a Hybrid blockchain containing Public chain and Consortium chain.
Public chain: works on a proof-of-work (PoW) consensus and is responsible for recording transactions. It issues corresponding IOEX digital currency base on the contribution of the decentralized network recorded by Consortium chain.
Consortium chain: uses the Delegated Proof of Stakes (DPoS) consensus and acts as arbitrators. It’s responsible for recording the resource contribution and usage records of each node in the ioeX decentralized network, including bandwidth, traffic and storage. After validation and confirmation, the token will be issued to the Public chain through the arbitration mechanism as agreed
Integrate Decentralized Network with Blockchain for a Symbiotic Ecosystem
In this way, the network with incentives by blockchain enables a set of mutually-driven symbiotic ecosystems between smart device providers, general consumers, and ioeX networks.
Smart Device Providers: with ioeX decentralized network, the operating cost reduced. Smart device providers are more willing to increase the number of smart devices that have built-in ioeX functions. The scale of the network grows bigger and better
General consumer: owners of devices that are ioeX peer nodes will be rewarded because of their contribution of bandwidth, traffic and storage. People are more willing to purchase this kind of resource sharing devices
ioeX network: with an enlarged network, the operation efficiency improved. We can provide better quality service to smart device providers and attract more partners to the ecosystem
We will continue to encourage more collaborative partners to join as peer nodes. We invite you to join us and establish the ecosphere of decentralized network together!
【Read More】
Part I: How Does ioeX Integrate with Blockchain?: http://bit.ly/2Gxht0j
Part II: Personal Cloud Storage and Distributed Backup Functions of the ioeX
：http://bit.ly/2V5AUkk
Part III: Privacy Connection Messengers：http://bit.ly/2V3J9gx
Part IV: At-home Internet Access (X-Surfing)： http://bit.ly/2V5PGav
Part V: The relationship of ioeX and Elastos Carrier: http://bit.ly/2I5hdWm
Part VI: Duo-chain System: https://bit.ly/2I5ZUFx
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