IoT Chain (ITC)
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IoT Chain (ITC) is a cryptocurrency made by Xie Zhuopeng and Lyu Xinhao in 2017. It is developed as a lite operating system using a hybrid system of distributed ledger technologies including blockchain, Practical Byzantine Fault Tolerance (PBFT), and blockless Directed Acyclic Graph (DAG) architecture.
With IoT Chain’s distributed ledger infrastructure, data can be layered and stored in a decentralized and secure manner. The technology is said to enable millions of IoT nodes to securely and instantaneously interact with one another resulting in an economy of sharing for Internet of Things (IoT) devices. IoT Chain’s technology could also produce a wealth of valuable user data that can be monetized by users with the ITC token and used for the development of AI.
IoT Chain aims to become the standard for all interconnected IoT devices used in homes, businesses and cities. Some of IoT Chain’s solutions include: an IoT chain for vehicles for automotive interaction and tracking; vaccine tracing for security and efficiency; privacy solutions for splitting user and personal data; and business solutions for monetizing data.
Currently, IoT Chain has 5 primary investment partners including FBG Capital, Link Capital, Hashed, ChainFunder and RedNova. IoT Chain received the Blockchain Excellence Award at the 2018 World Economic Forum in Davos, Switzerland and is recognized by IoT device manufacturers and other related companies.
The IoT Chain (ITC) token has a total supply of 100,000,000 ITC and a circulating supply of 83,264,658 ITC. As for the ITC token distribution, 5% of tokens were distributed to early supporters, 30% are in a community fund, 15% are reserved for the founding team, and 50% of tokens were sold privately to investors.