According to research conducted by Strategy Analytics, there are currently more than 20 billion IoT and connected devices deployed across the globe. In 2020, the number of IoT devices will exceed 50 billion due to proliferation of these devices in the home and work place. Smart device manufacturers continue to release frequent software and systems updates to address the global IoT trend, satisfy customers, and maintain market competitiveness resulting in correspondingly high data transfer costs. ioeX, a team from Taiwan with a strong technical background in IoT and blockchain technology, has combined distributed networks with decentralized blockchain technology in their quest to “connect smart devices and build a secure global distributed network”; with the global M2M data transmission market estimated at USD $18 billion, the distributed network solution provided by ioeX can reduce 70% off costs of traditional OTA update for nearly USD $12.6 billion in savings.
The ioeX distributed network is a secure data network based on distributed smart devices that act as transmission nodes for the purpose of providing commercial value; the network consists of 3 types of nodes: “bootstrap nodes”, “peer nodes”, and “phone nodes”. Basic network structure consists of fixed IP bootstrap nodes that assist the spreading of floating IP peer nodes in the distributed network. Bootstrap nodes provide file transfer relay functions to peer nodes but do not participate in the application layer while peer nodes participate in application layer functions. Additionally, phone nodes are categorized as smart devices that do not share storage space. ioeX continues to establish and connect physical and cloud-based bootstrap and peer nodes and the company continues to forge partnerships with other companies in order to increase the number of smart device peer nodes to expand the decentralized, distributed network and provide a new solution for online data transfer, temporary file storage, and OTA software updates.
ioeX began as a project to reduce operating risk and cost for smart device suppliers by creating a comprehensive ecosystem through a healthy and stable distributed network combined with the ioeX duo-chain (public and consortium chain) system.
ioeX distributed network provides a suite of functions such as X-Cloud (Personal Private Cloud
), X-Surfing (Home Node Access), X-Talk (Private Messengers), and X-Searching (Content Searching) integrated into the ioeX app so that users can enjoy the full, convenient services within the ecosystem.
· Personal Private Cloud (X-Cloud): Similar to cloud storage solutions such as iCloud, Google Drive, and Dropbox but users need only the smart devices (with storage capabilities) in their home or on hand. Renting storage space from third parties will no longer be necessary.
· Home Node Access（X-Surfing）: Use smart devices in the home or office as a proxy that sends data to the user for connecting to and browsing the internet.
· Private Messengers（X-Talk）: X-Talk is based on direct point-to-point connections for the decentralized data transfer of text, images, audio recordings, and videos. The lack of a third-party intermediary means all transferred files are only stored on 2 devices belonging to the sender and receiver.
· Content Searching (X-Searching): The content searching function can search, download, decrypt, recover, and access backup files stored within the distributed network.
At the end of January 2019, South Korea’s largest opposition party “Liberty Korea” held a press conference to announce their foreign partnership with Taiwanese startup ioeX who will be implementing a blockchain voting system with the company’s technology solution. ioeX has a strong background in IoT and blockchain technology and their customized platform solution will allow Liberty Korea to conduct party elections with all records directly preserved in the blockchain. Additionally, the platform will include a petition function to facilitate the gathering of public opinion while also providing up-to-date records of representative activity for the general public.
ioeX Founder and CEO Aryan Hung stated: “ioeX is deeply honored to partner with Liberty Korea and we hope to give the public hands-on experience with using blockchain technology through this application landing. The voting system is only the first step in our continued expansion of the ioeX distributed network and duo-chain system.
For more information please visit ioeX official website or business platform:
ioeX official website: https://www.ioex.co/
ioeX business platform: https://www.ioex.vip/