Currently there is a problem with the Internet of Things, or IoT for short. While the concept allows multiple items to share data that can help people in their day to day lives over the web as well as internal private networks & even improve locations like factories in a kind of 'fourth industrial revolution', there are problems. There are security issues with the Internet of Things with insecure connections allowing companies and hackers alike to spy on people through their own devices. On top of that, applications for the Internet of Things require a certain amount of processing power in order to function and without dedicated servers, this amount may not be met. These issues need to be dealt with soon since it is predicted that in 2025, over 150 billion devices will be linked to the IoT worldwide. However, there is a new way that these issues can be tackled using blockchain and the new DEXToken.
Enter Flowchain: a blockchain that ensures data transactions can occur in real time among devices linked to the IoT. Those working on the project see Flowchain as a “new blueprint for the future” that adopts blockchain technology in addition to artificial intelligence. This blockchain and its AI allows for more data privacy. The way the IoT currently works, anyone sending information through the network basically loses ownership of that information and a say on how it is stored. Flowchain encrypts this data and allows applications to decide how its users' data is stored without having it revealed instantly to others attached to the network.
Flowchain also allows for sharing of processing power. The technology has a decentralized computing pool where miners can share idle computing power and extra storage space. This allows developers to create applications with practically all the computing power and storage they need without having dedicated servers. In the words of the developers themselves, the Flowchain “can easily customize their products and services and build their own IoT blockchain on the Flowchain platform.” Flowchain isn't an untested technology either. Peer-reviewed academic papers like Hybrid Blockchain and Pseudonymous Authentication for Secure and Trusted IoT Networks & Devify: decentralized internet of things software framework for a peer-to-peer and interoperable IoT device, both by Jollen Chen, that talk about the benefits Flowchain from the perspective of scientific experts.
This technology is powered by the Dextoken protocol. This protocol is a based around an algorithm called the Speculative Automated Market Maker that was designed to fight strong price fluctuations and regulate the 'true' value of tokens. It is also based around peer-to-peer trusted computing and building a trust-less network against tokenized hardware, which is quite useful for a system like the Internet of Things: a system where hardware is connected to the Internet and a more personal peer-to-peer network. With Dextoken, a token called Flowchain Coin (or FLC) can be mined and distributed to those who want to buy into Flowchain technology or provide some of your own processing power to the larger system. So whether you are a company connecting the Internet of Things, a person wishing to make extra money by offering your processing power to others, or a normal person who wants to use apps with your network to the Internet of Things while knowing said apps will protect your data, Flowchain offers something for you...
