KuCoin is thrilled to announce the listing of CPChain’s native and transaction currency, CPC. Deposits are now available with trading pairs including as CPC/BTC and CPC/ETC. Buying will commence at 19:30 UTC+8 while Selling/Withdrawal will start at 20:00 UTC+8. Transactions can be performed using KuCoin’s App or direct to their website at www.kucoin.com.
CPChain endeavors to reduce the cost of system connectivity, increase the advantage of open data sharing, guarantee user privacy and system security for IoT. It’s estimated that there will be roughly 31 billion IoT devices deployed by 2020. They want to create a new generation of IoT architecture, which provides a full process solution for data acquisition, storage, sharing and application in the IoT industry. CPChain is focused on multiparty data transactions and artificial intelligence decision applications based on significant data analysis.
Currently the IoT industry has three major problems: Cost, The centralization characteristics of the present IoT system induces the problem of poor operability and high connection cost between devices and among IT systems; Isolability, The traditional IoT architecture is a specific structure for specific application scenarios, which is likely to result in isolated data islands. Moreover, the data value cannot be fully utilized; Privacy and Security, Privacy leakage and cyber attack are frequent reported recently on IoT, which shows that users’ private data and system security are not well protected. By establishing multi-party trust and realizing the interconnection of heterogeneous data, it answers one of the problems in the traditional IoT industry.
CPChain wants to win the bottleneck problems in the current IoT system by considering four technologies which include: distributed cloud storage, data security cryptography, blockchain technology, and a large-scale distributed network consensus protocol. The four technologies are explained below:
- A decentralized system is developed by integrating blockchain technology to guarantee that the data on the chain is permanently valid and tamper-proof. It provides verifiability and traceability for various IoT application.
- A new technology of connecting cryptography and distributed hash table (DHT) is proposed to solve the scalability problem of the data storage in the traditional blockchain.
- A distributed consensus protocol is designed to encourage users participation and promote the cooperation of all parties involved in the system.
- Both re-encryption and homomorphic encryption technologies are implemented to guarantee the operation of the system, protect users’ privacy data, and further enhance the confidence of users.
The other function is operating CPC a symbol of participating in CPChain community administered. To guarantee the balance of communication and computing means, DAPP application developers must keep a corresponding value of tokens according to the resources to be occupied by the application and may let them if the quantity of tokens is not sufficient. For transactions resulting from DAPP applications, DAPP developers bear the similar costs and pay leasing fees to miners who give rental tokens.Be the first to know about our price analysis, crypto news and trading tips: Follow us on Telegram or subscribe to our weekly newsletter.