In the few years ahead, our world will be full of “IoT” devices to make our lives more convenient and comfortable than ever before. However, our comfort does come with a cost, at which Atonomi will try to solve; security compromise.
What is Atonomi trying to do?
Atonomi will try to keep the issue of IoT’s security compromise to a minimum by involving blockchain technology in IoT device registration since the manufacturing process. In details, Atonomi including its networks, partners will themselves choose factories in line with their standards and evaluate them with “scoring system” calculated by a number of factors such as usage behaviors, security, contact frequency to other devices.
Scores will be used to evaluate the credibility of a certain device; for example, to allow device B to exchange information with device A, device B must have credibility scores enough to pass device A’s standard in order to make the transaction between the two devices happen. This will help improve security performance of IoT device and reduce risks related to other devices owned by hackers.
Token Metric
Total supply is 1 billion; 50 % to ICO and the other 50 % is to be announced.
Hardcap 25m.
Token Usage
- Used to register devices in blockchain via smart contract and to enable one IoT device to verify credibility of other devices in the system.
- Used to pay transaction fee among devices if the transaction is for commercial purpose while information exchange transaction will not incur such fee
Team
Vaughan Emery has more than 20-year experiences in cyber security, acts as CEO for both Atonomi and Centri which is the parent company of Atonomi.
David Fragale Co-founder and Atonomi’s head of product department. Previously head of blockchain department at PwC.
Mike Mackey CTO of Anotomi and head of engineer department at Centri.
Dr. John Clippinger Atonomi and Bancor’s advisor. Currently a researcher at MIT lab
Market Potential
IoT market is expected to reach the value of 457 billion dollars by 2020 (equivalent to the total market value of crypto currency as of present)
The number of competitors is very limited; therefore, the potential seems very promising for Atonomi.
Red Flag
- No MVP at the present.
- Atonomi’s parent company, Centri, has limited public information available on Google although the company was established more than 7 years and claimed to have achieved many rewards.
- Unclear token metric
- Scoring system stated in the White Paper was not clearly define; therefore, readers cannot have a clear picture how one IoT device will rate another in the system. Presumably, one hacker when realizes that his/her device does not have a good score, just buys a new one and tries to improve the score to sneak through the standard.
- Atonomi broke a promise that they’ll show the mvp on 15 May but they have postponed until token sale.
Conclusion
Atonomi aims to solve security issue of IoT devices which is very important to the market growth. Solid team and strong support from Centri are the core advantages of this project. We, however, are concerned about the unclear details of scoring system used to evaluate IoT devices. We think that this is the main issue because without well-defined system, the project may not succeed.
This is not your financial advice. Please, do your own research before invest in anything.
