The price of ITC is currently $ 0.00012642. It has increased by +0.00% in the last 24 hours.
IoT Chain (ITC) is a crypto token that's designed specifically to address the security concerns of the IoT (Internet of Things) ecosystem. The team behind it claims that through the use of technologies like asymmetric encryption of cryptography, semi-homomorphic-encryption ciphertext computing technology, and a distributed architecture that does away with the need for data centers, they can offer a level of security that's currently missing from the IoT world.
In theory, this means that not only are users' devices protected from hackers, but the data these devices generate are also securely stored and can only be accessed by the users themselves. For example, the feed from an IoT-powered security camera could not be viewed by anyone but the authorized user.
The specific creators of IoT Chain aren't mentioned on the project's website or in their white paper. However, the team's overall goal is quite clear: to offer a level of security to the users of IoT devices that not only protects the devices themselves from being compromised but also ensures the privacy of the data these devices generate.
At its heart, IoT Chain aims to achieve its security goals by leveraging a host of advanced encryption technologies and a decentralized architecture. They use asymmetric encryption, which involves a pair of keys—an encryption key to encrypt the data, and a decryption key to decrypt it.
They also use semi-homomorphic encryption, which allows certain types of computation to be carried out on ciphertexts and generate an encrypted result. This promises to preserve users' privacy since one can carry out computations on encrypted data without knowing anything about the original data.
The distributed architecture adds another layer of protection by eliminating a centralized data center which could potentially be a target for hackers.
One thing that sets IoT Chain apart from other cryptocurrencies is its dedication to IoT security. While many other blockchain projects aim to offer generalized security enhancements across a wide range of industries, IoT Chain focuses solely on the IoT sector.
The platform's use of leading-edge encryption technology like asymmetric cryptography and semi-homomorphic encryption also makes it unique, as these technologies ensure both the device control right safety and the data privacy for users.
The current circulating supply of ITC is 71.5M, and the token has a total supply of 100.0M.
The current market cap of IoT Chain is $ 9.0K, which places it at rank #3726 in the cryptocurrency market.
You can buy ITC on any of the following exchanges: Huobi.pro, OKEx. Remember to conduct your due diligence before making a purchase and never invest more than you're willing to lose.
Like all cryptocurrencies, you should store your ITC tokens in a secure wallet that you control. Hardware wallets are typically considered one of the safest options, as they keep your private keys offline and safe from hackers. Always remember to keep your wallet's recovery phrase in a secure location, and never share it with anyone.
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