1. Technology promotes the outbreak of the Internet economy in the past ten years
The Internet industry has developed rapidly in the past decade, and our daily life has undergone tremendous changes. At the same time, the competitiveness of various companies and countries is closely related to the development of the Internet.
In addition to the above, the rankings of the top 5 companies in the global market capitalization have changed. 10 years ago, the top 5 global market capitalization companies were Exxon Mobil (oil industry), GM (manufacturing), Microsoft (software industry), Citigroup (financial industry), and Bank of America (financial industry); but 10 years later, the top 5 companies are Amazon, Microsoft, Apple, Google, Facebook, collectively known as “FAMGA”, all of which belong to the IT industry.
Figure 1: Top 10 companies in the world by market value 2018
In the era of information, the largest IT giants have ascended the “iron throne” of global market capitalization in a shorter period. From the personal computer (PC Era) to the mobile phone (Mobile Era), the Internet has produced huge economic benefits over the past decade.
The analysis shows that advancement in technology is a powerful driving force for the Internet economy in the past 10 years. Cloud computing, smartphones, big data and other Internet technologies and network technologies, which make people use the Internet at a lower cost,grow the market share, and spawn more business models, such as Internet taxi (Uber, Didi), Internet finance (Ant Financial), Internet hotel service (Airbnb), Internet food delivery (Uber, Grubhub).
Nowadays, technology is constantly updated, China-United States trade war is the battle for technology leaders. 5G will become the new economic engine of the future, because it has a large capacity, runs fast, and enables more applications and businesses to run more efficiently.
2. The future of IoT is coming
5G has a great impact on the Internet of Things industry. The 5G speed is 40 times that of the 4G speed, and the power consumption is 1/3 of the 4G. The volume is reduced to the size of the backpack, and no new installation facilities are required. More and more IoT devices will be connected to the network in the future, which are industrial sensors, industrial equipment, Internet of Vehicles devices, smart home devices. 5G will accelerate the number of IoT devices to access the network and meet the speed and capacity requirements of these devices.
IDC report shows that the number of connected devices on the Internet of Things (IoT) will exceed 50 billion by 2020, and China alone will have 10 billion, comparing less than 4 billion connected devices on the Internet now. The IoT will have a deep impact on all aspects of life, agriculture, industry, and services.
Due to the diversity of fields and scenarios, the Internet of Things has several characteristics:
- Heterogeneous Network and interoperability
The communication protocols between the various scenarios are not uniform, and there are 11 common communication protocols.
Figure 2: IoT communication protocol (from INT Chain Promo)
- High-security requirements
Security threats to IoT devices are grim and complicated, because of a lot of confidential information and data in the IoT devices. A large number of IoT devices have been hacked and used as “weapons” for DDoS attacks. These botnets, formed by a large number of IoT devices, affected Internet services on the East Coast of the United States in 2016. Making Dyn and other well-known websites to remain disconnected at different times of the day.
- High scalability requirements
As the area is more dispersed and wider, IoT devices will have very high scalability requirements for the network.
In terms of the above typical problems, INT Chain promotes the IoT ecosystem by building an economic-driven model. At the same time, Use Case Driven is the strategic approach of INT Chain for research in different industries. INT Chain tends to implement IoT project practice in various smart industries.
Figure 3: IoT problems solved by INT Chain (from INT Chain corporate video)
3. INT Chain IoT blockchain solutions
As one of the IoT blockchain public chain projects, INT is the first one to use “Use Case Driven” as the research principle, the primary goal of the INT technical team is to implement the use of blockchain technology in IoT applications, which is to solve the blockchain business. INT Chain developed INT double-chain architecture and the dBFT+DPoS consensus algorithm, conforming to the properties of the Internet of Things, Which completes the mechanism of “calculation and bookkeeping separation” – the master nodes complete the calculation, the miner nodes complete the record, and finally overcomes the cross-chain. Communication technology to achieve scalability of the main chain in the business scenario.
Figure 4: INT Chain double-chain architecture (from INT Chain Promo)
4. INT Chain application
Smart home product (The Esurfing Blockchain Router) which developed by INT Chain and China Telecom. It is a super high-profile product with dual-core 880MHz CPU + 512 MB DDR3 memory + USB 3.0 + USB 2.0 + 32GB TF card. Its functions include: smart routing (smart network) + shared revenue (bandwidth can be shared) + private cloud server (App can access the server directly, high-speed data transmission) + decentralized node (blockchain router becomes the node of blockchain), It can be said that this is a very good application of blockchain, which not only gets rid of the disadvantages of the traditional mining router but also benefits from the advantages of the era of share economy.
Figure 5: blockchain router
INT Chain provides a mature blockchain traceability solution for the supply chain, which enables product information to be queried at any stage, ensures the inquiry and auditing services of consumers, manufacturers, merchants, and intermediate transporters.
5. Future plans for INT Chain
INT Chain will integrate the practice of IoT and blockchain technology to extend blockchain applications to the new IoT field.
The INT Chain blockchain technology enables IoT devices to store data on the chain more efficiently and securely. After the IoT device’s data is upload to the blockchain, all validated and reliable data and even resources can be used for transaction sales. This motivates all individuals to participate in the blockchain ecosystem because IoT devices will not only be a costly device but will also be a potential path to making a profit.
The expected INT Chain blockchain solution will not only be limited to the following aspects:
- Data uploaded to the blockchain, traceability queries, IoT data audit service, transaction settlement services.
- As Blockchain as a Service (Baas), it promotes the solution of security, data validation, and traceability in the Internet of Things.