IONChain price is $0.00041940
The current price of IONChain (IONC) is $ 0.00041940, with a 24-hour trading volume of 762.2. In the last 24 hours, IONC has increased by +0.00%%.
IONChain (IONC) is the official cryptocurrency token of the IONChain ecosystem. This ecosystem concentrates on addressing some of the pressing issues in the current Internet of Things (IoT) networks in aspects such as data security, data circulation, data sharing, and data transactions. The purpose is to boost the efficiency of the entire IoT ecosystem. The philosophy of IONChain is encapsulated in the concept of “One Device, One Coin, One Code”, enabling the integration of IoT devices with the IONChain blockchain network.
The administration committee elected by the IONChain users through the consensus mechanism oversees the IONChain ecosystem- thus they're responsible for its creation and maintenance. This committee decides whether additional IONC tokens should be issued after 20 years, based on various parameters like data being processed, on-chain devices and the general abundance level of IONC in the system.
IONChain operates on Edge Computing technology, which allows every device connected to the IoT Network to potentially serve as a mining machine. Therefore, each IoT device that employs IONChain becomes eligible for mining rewards. The unique feature of this system is that the yearly supply of IONC tokens will increase proportionately to the demand for data access, but up to a set upper limit.
By leveraging the capabilities of blockchain technology, the data source across the IONChain network will always remain reliable and verifiable. Also, the whole data transfer process is both fast and secure, and facilitates the emergence of IoT standards, thus unlocking new IoT application scenarios
IONChain (IONC) stands out for its distinctive approach to integrating IoT devices with blockchain technology while ensuring secure, swift, and verifiable data transfers. Through its "One Device, One Coin, One Code" philosophy, IONChain has effectively incentivized the usage of IoT devices in the network by offering potential mining rewards. Not to mention, the value of data is quantified, helping increase transparency and reliability within the network.
There's a total supply of 800 million IONC, which is scheduled to be gradually released over a span of 20 years. The exact number of currently circulating IONC stands at 427.7M.
IONChain (IONC) tokens can be purchased on a number of exchanges, including Hotbit, FCoin. It's essential to remind that you should conduct your own due diligence before participating in any cryptocurrency transactions.
To store your IONChain (IONC) tokens, you can use any wallet that supports ERC-20 tokens since IONC is an ERC-20 token. Just make sure to keep your private keys safe and secure to prevent loss or theft of your tokens.
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