“Proof of Assignment” (POA) algorithm can be applied to different industries with a flexible blockchain reward system and instant transactions.Our system can achieve 3,000 TPS (transaction per second) for cross pacific transactions before any optimization. The overall network deployment cost is significantly lower than traditional blockchain solutions. PoA makes the network leaner and faster, hence more suitable for IoT devices.
IOTW’s unique Micro Mining technology allows any IoT device to mine IOTW coins without hardware changes or additional costs. Electricity cost per device is only 0.5 USD annually.
“Block Witnessing Protocol” provides extra network security compared to traditional blockchain architecture. It does this by utilizing a witnessing pool, making the network smaller and holding hundreds times less copies of ledgers, while providing robust security, thereby significantly reducing the cost of the network. Moreover, the witness is strategically placed in high-security cloud servers to further enhance network integrity and the system can still operate even if more than 51% of the trusted nodes are attacked.
For both domestic and commercial applications – such as TVs, set-up box, air conditioners, cell phones, Apps, computers, LED lightings, logistics, RFID, QR Code and bar code readers.
Instant transactions at 3,000 TPS scalable up to 1 million TPS via clustering, interoperability and network advancements. On Average only 1- 1.5 second to process across the Pacific.
Connecting manufacturers with end users through targeted marketing channels designed for enterprises. End users can then sell their device usage data to manufacturers, research institutes, and other data analyzers. It reduces reliance on middlemen, centralized marketing channels and selling expenses.
Hosting of of Big Data is decentralized and more cost effective.
A small Digital Power System (DPS) chip, embedded with Wifi and blockchain technologies, can convert non-IoT devices into IoT devices by simplifying the power system hardware, making cost lower than using traditional analog power systems in appliances.
Our IOTW ecosystem directly connects the consumers and manufacturers through the blockchain, allowing each to profit from the efficient and controlled shared use of data.
Specific hardware/CPU required
General purpose
Must run on their own CPUs/boards
Mining
Instant transaction
Reward system flexibility
System construction costs
1/100s of norma
Expensive
Expensive
Security
High
Low
High/Medium
Mass deployment partner in semi- conductor, IoT hardware industry
Application
Decentralized E-commerce platform, Payment system, Big Data Collection, Other enterprise usages
Micro-transaction
IoT information exchange with privacy
Token Utility
Payment, Micro-transaction, Purchase of Big Data
Micro-transaction
Unclear
IOTW micro mining can run on IoT devices with low memory and computational power. IOTW is a highly secure Instant transaction payment system. Enabled by green micro mining from any IoT device - no extra hardware, no additional cost.
The IOTW project is focusing on incorporating its blockchain in IoT devices and will facilitate fast transactions between IoT devices, also enabling them to participate in crypto mining.
AnApp is taking an innovative approach to put IOTW's "Proof of Assignment" and "Micro Mining" blockchain algorithms into IoT devices without adding any hardware cost.
IOTW, a blockchain-based platform that enables crypto mining on IoT devices, pays users in digital currency for their mining services.
This will greatly simplify several task for enterprises and allow them to focus on their core activities thereby enhancing their revenue and key skills.
Proof-of-assignment was developed by IOTW, a blockchain project aimed at bringing any internet-connected devices into the blockchain network.
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