There are already over 15 billion IoT accessories in the world. These accessories backpack lots of abstracts acceptance statistics that could be actual admired to the appropriate companies. The botheration until afresh is that it’s about absurd to aggregate all of this admired abstracts in an organized way. But now the accomplished aggregation at IOTW has invented a way to calmly affix any IoT accessory to their blockchain. Once connected, the IoT accessory becomes a bulge and mines IOTW tokens as a accolade to the accessory users. The acceptance abstracts is again calm and awash to companies in barter for IOTW tokens.
Based in Hong Kong, IOTW is a artefact of the groundbreaking Blockchain company, AnApp Blockchain Technologies Ltd. The IOTW blockchain software will accomplish an open-SDK, acceptance any accessory to amount the blockchain app and accretion admission to the IOTW blockchain ecosystem.
In adjustment to incentivize users to affix their IoT devices/appliances to their blockchain, the adamantine alive aggregation has developed 2 altered new protocols; “Micro Mining” and “Proof of Assignment.” Together, these protocols acquiesce every domiciliary to accompany the mining association after restrictions. Anniversary accessory they affix will become a node, and anniversary bulge will accept the aforementioned adventitious of actuality called to abundance as all the added nodes in the network. No bang ability on this chain.
How it works:
Here’s a 7-minute video we were affiliated to by their Telegram mod. It does a abundant jump of answer why IOTW is such an agitative project. The video has already accustomed an absorbing 56,000 views, and is account blockage out.
In addition, IOTW affairs to acquiesce for the development of decentralized applications on IoT devices. And they will authorize a decentralized acquirement arrangement for IOTW holders to bypass the middlemen and acquirement anon from accessory makers and account providers.
Also, the aggregation invented a Agenda Ability System chipset (“DPS chipset”) that replaces acceptable og ability systems in baby accessories with agenda ability systems. From the company:
“We accept the DPS chipset will be able to see acceptance by a assertive cardinal of accessory manufacturers for extenuative costs while accretion accessory functionality. We accept already filed a apparent for the DPS chipset design. We plan to book a few added patents for this new product.”
IOTW will accept the afterward utility:
The Proof of Assignment agreement requires way beneath ability for mining than Proof of Work. And bulge mining adequacy does not depend on how abounding tokens the bulge has. Anniversary bulge has a fair adventitious of actuality selected.
Use of Funds:
There are 5 founders, all with absorbing resumes, decades of experience, and several patents. They aloof ad-lib things constantly, and it’s absolutely impressive.
Frederick Lueng- He served 3 years as CEO of Mosway, 3 years Director of Marketing at Diodes Incorporated (a arch all-around architect ambidextrous with semiconductor markets.) and 8 years as AVP at Ali Corporation (over 1600 employees).
Marcin Dudar- He is the arch of accouterments and assembly at Nixplay (digital account anatomy aggregation in Hong Kong with over 80 employees). He has 6 years as Software Architecture Manager at the massive semiconductor aggregation Ali Corporation (over 1,600 employees).
Tony HT Chan – He will be the CFO. He has affluence of affection accounts experience; Sealing Trading, Rabobank, Ananotech Limited.
Peter On Bon Chan – He will additionally serve as CTO. He has 35 years of acquaintance in D&D. He was complex in the enactment of one of the aboriginal 3 dent artifact plants in Hong Kong. He was the activity baton of establishing and operating of the aboriginal absolutely HOKLAS accepted EMC testing class in Hong Kong.
Patrick Hung- He has been the Admiral of Velosti Technology (a arch semiconductor architecture house) for the aftermost 8 years and was admiral for 10 years at CPO Technologies, He accumulated world-class semiconductor technology experts, accouterment consulting casework to a cardinal of high-tech companies in San Francisco Bay Area.
A absolute of 16 added admiral are listed. We bound arrested through anniversary of their LinkedIn pages and can affirm they are talented.
There are 12 admiral with absorbing resumes.
Denis Lam is the architect and CEO of IoTBlock. He served 2 years as CIO of R & C Technologies, an IoT electronics and accouterments architect and solutions provider with offices and ability based in Asia, Europe, and United States. He scaled the aggregation to a $100M valuation.
“Blockchain extensive tens of millions is no best a dream. The IOTW micro-mining software is actuality ported into chipsets and IoT devices, that are aircraft hundreds of millions units per year.”(WP)
In a contempo YouTube interview, Kartik Mehrotra (Head of Business Development) explains how the capital ambition of IOTW is to accomplish cryptocurrency adopted into the mainstream. He says if this activity gets popular, he sees the boilerplate domiciliary authoritative amid $2,000-$5,000worth of tokens from mining with their accustomed at home devices/appliances. He additionally says the IOTW ysis alternation can already do “3,000 tps per additional from HongKong-USA, and 100,000 tps all local”. If true, that’s a aloft ability that would put them in the top 10 blockchains in agreement of speed.
Investment wise, I yze this to the #45 ranked bread in crypto, Electroneum. Electroneum allows anybody to abundance their tokens on their phones. It currently has a $173 actor bazaar cap, and a huge fan base. 7.2/10
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