Internet Node Token INT
August 27, 2017
Internet Node Token(INT) token will take a two-tier structure. The first tier is the traditional token structure that participates in exchange transactions. The second tier uses the first tier token structure, launches a timed auction and float aiming at fiat money, mainly to solve the problem of token volatility, reduce volatility which is easy billing. INT will build a framework for machines and devices, and create a token, which will be used to facilitate the resource exchange between nodes and heterogeneous links (different nodes may create independent internal links). For example, a node may make a request and pay corresponding tokens to request other nodes (or links) to provide power, network, data, service and other possible resources. In addition, through zero knowledge proof (specific improvement as necessary), optional masking may be conducted to protect user privacy and improve security. The Internet of things has developed rapidly in the last a few years, however, concerns have been raised for the standards of communication and data exchanges among manufacturers, the interests of manufacturers, user privacy, as well as fragmented model constraint on the overall IoT development. It is expected that more than 25 billion nodes will be connected on the internet in year 2020, however, if the interconnection within the whole network is not smooth, the fragmented Internet of Things would not fully realize value of the nodes. Without defining a common set of protocol standards, seeking support from individual manufacturers is but inefficient and costly. Through decentralized and economy driven methods, it is a new way to make standards for device interconnection. INT is the acronym for Internet Network Token. INT attempts to build a scheme that allows data and resources to flow freely within the network and to ensure user privacy in untrusted and decentralized machine federations. INTchain is a fundamental application platform of blockchain for promoting the ecological evolution of the IoT. From the perspective of the evolution of the IoT structure, INTchain is the new generation of bottom-up created system of IoT and blockchain. INT will provide series of decentralized IoT applications and industrial ecology with a reliable data source, transmission and storage security, confidential and untrusted infrastructure and shapes a new business model focused on devices, which opens up a new market. Description of Token (Utility/Use Cases): INT will build a framework for machines and devices, and create a token, which will be used to facilitate the resource exchange between nodes and heterogeneous links (different nodes may create independent internal links). For example, a node may make a request and pay corresponding tokens to request other nodes (or links) to provide power, network, data, service and other possible resources.